#mortgage

What if all long term contracts were sealed with a kiss?

You may now kiss the landlord.

You may now kiss the car salesperson.

You may now kiss the recruiter.

Ron Butler says that when he started in the mortgage business 30 years ago, it was quite easy for a grocery store produce manager or part-time nurse to find the five per cent down payment needed to buy a home. "Those days are gone," Butler said recently at a parliamentary finance committee hearing looking into household debt in Canada. Asked how long it would take someone with a solid, full-time job to save up the minimum down payment on a home today, Butler said that when it comes to the Greater Toronto Area, "the reality is they never could." "If you're running about $110,000, $115,000 income, you have to pay rent, you have to eat, you have to live. You pay taxes," Butler said. "You could not possibly accumulate a satisfactory down payment for a house price that's still sort of just under a million dollars."

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Because of serious medical hardships, my mom and I are now facing a 10,000 dollar backpay on our home. My mom just got home from almost two months in the hospital due to a stroke, and other underlying conditions ( IE Hemispheric Migraines causing Paralysis on the left side of her body. )

Because of this she has lost her job, and my income is not enough to pull us out of the hole we’re in.

I’ve already drained my savings and paid 2,000 off of the 10,000, but I only get paid bi-weekly, and our forbearance ends on the 30th with no extensions.

I do not expect the full amount through this, but at this point, I’ve run out of options. If my posts have ever made you chuckle or exhale from the nose, please spread this around as much as you can if nothing else so my mom and I can continue to have a roof over our heads.

{ MASTERPOST } Everything You Need to Know about How to Pay off Debt

Understanding debt:

Let’s End This Damaging Misconception About Credit Cards

Season 2, Episode 10: “Which Is Smarter: Getting a Loan? or Saving up to Pay Cash?”

Dafuq Is Interest? And How Does It Work for the Forces of Darkness?

Investing Deathmatch: Paying off Debt vs. Investing in the Stock Market

How to Build Good Credit Without Going Into Debt

Dafuq Is a Down Payment? And Why Do You Need One to Buy Stuff?

It’s More Expensive to Be Poor Than to Be Rich

Making Decisions Under Stress: The Siren Song of Chocolate Cake

How Mental Health Affects Your Finances

Paying off debt:

Kill Your Debt Faster with the Death by a Thousand Cuts Technique

Share My Horror: The World’s Worst Debt Visualization

The Best Way To Pay off Credit Card Debt: From the Snowball To the Avalanche

The Debt-Killing Power of Rounding up Bills

A Dungeonmaster’s Guide to Defeating Debt

How to Pay Hospital Bills When You’re Flat Broke 

Ask the Bitches Pandemic Lightning Round: “What Do I Do If I Can’t Pay My Bills?” 

Slay Your Financial Vampires

Season 4, Episode 3: “My credit card debt is slowly crushing me. Is there any escape from this horrible cycle?” 

Case Study: Held Back by Past Financial Mistakes, Fighting Bad Credit and $90K in Debt 

Student loan debt:

What We Talk About When We Talk About Student Loans

Ask the Bitches: “The Government Put Student Loans in Forbearance. Can I Stop Paying—or Is It a Trap?”

How to Pay for College without Selling Your Soul to the Devil

When (and How) to Try Refinancing or Consolidating Student Loans

Ask the Bitches: I Want to Move Out, but I Can’t Afford It. How Bad Would It Be to Take out Student Loans to Cover It?

Season 4, Episode 4: “I’m $100K in Student Loan Debt and I Think It Should Be Forgiven. Does This Make Me an Entitled Asshole?” 

The 2022 Student Loan Forgiveness FAQ You’ve Been Waiting For

2023 Student Loan Forgiveness Update: The Good, the Bad, and the Ugly 

Our Final Word on Student Loan Forgiveness 

Avoiding debt:

Ask Not How Much You Should Save, Ask How Much You Should Spend 

How to Make Any Financial Decision, No Matter How Tough, with Maximum Swag

Your Yearly Free Medical Care Checklist

Two-Ring Circus 

Status Symbols Are Pointless and Dumb 

Advice I Wish My Parents Gave Me When I Was 16 

On Emergency Fund Remorse… and Bacon Emergencies

Should You Increase Your Salary or Decrease Your Spending? 

Don’t Spend Money on Shit You Don’t Like, Fool

The Magically Frugal Power of Patience

The Only Advice You’ll Ever Need for a Cheap-Ass Wedding 

The Most Impactful Financial Decision I’ve Ever Made… and Why I Don’t Recommend It 

3 Times I Was Damn Grateful for My Emergency Fund (and Side Income) 

Buy Now Pay Later Apps: That Old Predatory Lending by a Crappy New Name 

Credit Card Companies HATE Her! Stay Out of Credit Card Debt With This One Weird Trick 

Ask the Bitches: Should I Get a Loan Even Though I Can Afford To Pay Cash? 

The Bitches vs. debt:

I Paid off My Student Loans Ahead of Schedule. Here’s How.

I Paid off My Student Loans. Now What?

Hurricane Debt Weakens to Tropical Storm Debt, but Experts Warn It’s Still Debt

The Real Story of How I Paid Off My Mortgage Early in 4 Years

Case Study: Swimming Upstream against Unemployment, Exhaustion, and $2,750 a Month in Unproductive Spending