The Contract

I’m in the middle of a process that I call the most depressing thing in the world. I’m buying a house. I’d be happy to just pay for the house, but that’s not how a mortgage works. In the end I will have paid enough money for two and a half houses. (That’s more than 2 million Ramen Noodles!) The word “mortgage” begins with the first four letters of the word “mortuary” for a reason. You’ll be paying it off until you’re dead. I’ve signed a paper that says I’ll be dumping my income into a black hole for the next 30 years. Other fees include my firstborn son, my soul, a bucket of pretty pennies, two arms and a leg, and any other expression you can think of that means a lot of money.


You are right about one thing, the paying it off until you die part. But you were wrong about one thing, it isn’t the most depressing thing in the world. This is the most exciting thing that has happened to us in a while.

Been there. Buying a house is a scary thing. In some instances in today’s economy it is actually a bad move. Make SURE you’re getting a fixed rate for one thing and that you have some sort of guarantees on whether they can adjust your other “fees” like PMI insurance costs etc. In my mortgage I ended up spending $1300 a month on extra junk and interest and only $50 on principle for the first FIFTEEN YEARS. What a rip.

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