Totally Off Topic

[Larry Reese]

Venting here guys...

I just got zinged by the housing bubble. Evidently, after the bubble, the banks changed all the rules and are now demanding, if you are self-employed, that you have two entire years of business records to show them before they will count one penny of that income on the income side of any mortgage balance sheet. So, even though the business I bought in Big Spring has been in operating in the same location for 30 years and we have all the financial records of the previous owner, the bank won't count let me count any of that as income for another two years. I was honest (as I always am) and told them the law practice would not directly transfer (it can't) and that there was no way to forecast what income would be generated from the part-time practice I planned to open there. So, the long and short of it is, they'll loan me a huge stack of money to buy the business, but won't loan to me now, with great credit and a good down payment, for a house to live in so I can operate it. Because I just bought it......

And know what the reason is? They wouldn't be able to resell the loan. Hell, I remember a time when American banks actually kept the loans themselves. Anyway, it irks me immensely. Now, though I wouldn't like it, I'd rent for two years or whatever if I had to, but with the oil/wind boom out there, there are no rentals. I mean ZERO in Big Spring. There are three in Midland (in the whole city), several three bedroom, non-descript homes, and there'd be a commute, but so what. And the rent? $4500, $7000, and $7500 a month. Can you believe that? It's difficult to wrap the mind around. So, now we're up against it.

Ha. Anyone want to loan me a couple of a hundred grand for a mortgage, we'd deed the property to you for security, and then in two years, refinance with a bank and pay you back in full? :-) Come on, I know most of you are self-made millionaires who plays CS all day while watching your trading programs run - we'll pay reasonable interest rate.

LR

[Antoni Chmielowski]

Vent away Larry ! - a problem shared is a problem halved.

I would love to help you out but I`m poor as well.

Good luck !

[Jim von Krieg]

Brother Larry,

Damn son, it sounds like I have it better than you do AND I'm in a combat zone where shit goes boom and some people would like to behead my behind.

I think to the show Hee-Haw growing up.

Gloom, despair and agony all day
Deep dark depression, incessant misery
If it weren't for bad luck, I'd have no luck at all...

Keep swinging for the fences brother... At some point you'll make it to open terrain and start running wild....

Regards from Kabul...

Oh BTW, I've done drove the bad streets of Kabul and done lived to tell the tale... Life is good here, much calmer than Iraq... And the bathroom is only a foot from my room.. Oh the small victories in life...

Jim

[junk2drive]

My wife has a friend near DFW that suggested that I look for a job in Midland Odessa. If you know of Mad Russian from various game forums, he lives there and said good luck finding a place to live in. We are having our own troubles right now and I had to read your story to the wife. Took me a while to find the posts from April and May to put it all together.

Good luck. A few years from now you will be dealing with ornery teenagers and aging parents.

[Larry Reese]

Greetings gents,

Well, we may have a place to live now. Looks like we can pick up a place I think is too expensive, too small, and badly designed, with some owner financing (to be followed up with a regular mortgage once that two year window passes). Or, we might be able to get an older home that needs updating, but has better potential in the long run (i'm talking real long run here, with some major modifications). Or there is a rental for $1800 that would still have to be shown (so in 30 days time we could be right back where we are now - so this one is a big "no").

The guy i bought the store from is doing yeoman work keeping the place open like he promised and still running his construction business, but I really REALLY want to get out there and take over the reigns. Hopefully we'll be in the house by July 1st, though I have to be out there one way or the other, no matter what, on June 15th. Which means I may have to leave the wife and kids here for nearly two weeks without me, which I'd rather not do. And of course, every case I have left here is ramping up in this hectic time and demanding loads of attention.

Thanks Junk - I've seen Mad Russian around; I'll have to look him up eventually once we get out there. And if you end up out there, you and your wife will have a standing dinner invite if you like.

Jim, thanks for the words; made me laugh. Tell Scott I said hello if you see him and both you SOBs stay suited up and sharp. Actually think about you guys being out there in the dirt pretty often. These problems at this end are completely insignificant to you to be in-country with your life on the line and away from your families for months if not years. I owe you guys since I can't be there myself. Hell, I know I've said this before, but I think we need a draft so all of America shares these kinds of burdens more evenly. Stay safe brother.

Antoni, appreciate the good wishes my friend.

LR