I bought an apartment in Jacksonville, Florida that was absolutely out of my price range.
The bank said I could afford it.
Nobody seemed all that shocked I was buying the place; Quickly after acquiring it I realized I couldn’t pay the mortgage. I started getting behind on mortgage payments as well as I was distraught about going bankrupt. I sold some of my stuff, worked extra hours, as well as still I couldn’t keep up. The apartment was just too much for me. I thought about listing it with a real estate agent. I then realized I might need to make replacements. I didn’t have money for that. I also didn’t want to pay closing costs as well as real estate agent fees. I needed a way to sell the house, get money, as well as not have anyone realize what a jam I got myself into. A local moneyed apartment buyer totally saved my butt. Oh my goodness I would have declared bankruptcy without them. I got them to take my apartment behind mortgage payments. They gave me a great price for it. I was able to get back in the yellow as well as afford a much smaller apartment not in the middle of the city. You know what, I prefer my modern place more. I like that making my parents cheerful is simple. I like that it isn’t so grand as well as valuable. I also like that I finally have spending money again. It is way better to not be freaking about a mortgage payment each month. The money apartment buyer was great to labor with but honestly I hope I never get in that situation again.