** This is part two of a longer story, if you want to understand what’s going on I recommend starting with PART ONE (which is packed full of intensely awesome action), but if understanding isn’t a priority… by all means… read on!**
Everything was falling apart because tax reporting is dumb.
Well, it’s not really dumb (it’s actually pretty logical), but allow me this moment of sulking.
But Mimi isn’t as easily daunted. She wasn’t ready to give up quite yet. She started looking into other possible arrangements, but it was me (after I was done pouting about dumbness) that asked if my numbers could possibly help the situation.
I don’t make a ton of money. I get by, but I’m not making “downpayment money” (still a few too many holes in the old freelancer schedule). But since she only needed a little bit of a boost to get over the line, it was my chance to be a knight in shining armour.
And so we talked about it.
It’s a big decision to go in together on a piece of property, and even though I wasn’t thinking of it as ‘mine’ in any way (it is all her money after all), legally it does end up showing up on both of our financial reports and there’s always enough liability to go around!
SIDENOTE: One of the best things that has come out of writing about money is the increased freedom I can talk about it with the people in my life. A conversation like this a few years ago would have stressed me out, maybe made me feel a little emasculated, but now we talk about money, finances, our goals, and our struggles so often that it’s a much easier conversation to have.
Over the course of this discussion lawyers and accountants were consulted. When you’re dealing with big assets there’s no room for flowery romantic language… it’s nothing but the cold and clinical baby. At the end of the day, even though it’s not always fun to talk about, all kinds of situations and possibilities need to be discussed, and the terms have to be set in stone by people who know what they’re doing.
So after all the dust had settled, and there were plans set up to protect everyone involved in what seemed like every possible scenario… we decided to try moving forward together. GOOOO TEAM CONDO!!!
What did I just agree to….?
It’s an honest question…. what are we even thinking of buying? At this point I still hadn’t seen this condo. So we went to meet the agent, see the place, and ask about a billion questions.
I won’t bore you with specs and thoughts except to say that it was interesting to look at a place not as a potential home (at least not a home for me), but purely as an investment.
It was fun.
It’s also a crazy learning curve whenever you’re jumping into a new arena like this… today’s lesson was about the 5 day financing clause.
My Financial Stage Fright
I talk a big game about financial transparency and not being ashamed about where you’re at… but I’ve got to tell you, when it came to sending all my stuff to the broker I was pretty nervous.
It’s like if I were a reformed hoarder. I had finally gotten my home under control and I thought it was looking alright, but right before you invite someone over you think…. Wait… just because it’s better does that mean it’s actually good? What if it’s still a disaster? What if I’m doing everything wrong?
I was so nervous that I actually bought myself a credit report so I could check it before the broker did (but I ended up buying the wrong thing and just ended up with a report… not an actual score… because the stupid website is… never mind). Not the best 15 bucks I’ve spent this month.
All that to say that it was interesting to me how fast my financial insecurities came roaring back, even after years of getting better.
Old habits die hard.
Certifiably Sexy Credit
The numbers came back, and with the help of my dollars we were back on track to qualify for what we needed.
In fact, if you’ll allow me some financial pride, my credit was dubbed ‘sexy’ by a certified financial expert.
So… a pretty good day…
We were still waiting for a few papers that I couldn’t locate (because my organizational system is, as I’ve discussed, a bit of a disaster… THIS is why you sort things!!), but we were all feeling pretty good about our prospects.
All we had left to decide was… whether we really wanted to do this…
Next time on the Mortgage Files: we take this whole thing to the next level. Don’t miss PART THREE: THE POWER OF MACE COMPELS YOU.
***Just for the record let me make clear that this is a story of OUR experiences with ONE MORTGAGE SITUATION. If there’s anything that I’ve learned about this crazy world is that every person and property brings up a whole new set of circumstances. If you have questions talk to a broker (I know a great one). ***
