Wednesday, July 02, 2008

The fun never stops

Got a cheery letter from National City Mortgage Co. today. That's the lender for our house in Thorntown.

They want us to know that since our property taxes nearly doubled (WTF?), our house payment will increase by about $150 a month, effective next month.

Oh, and the insurance cost went up too.

This comes at a time when we're exploring a lease-to-buy marketing option for the property. Our Realtor says it's a good way to get some cash flow going and maybe actually end up selling the house to someone who can't get the credit approval to buy it outright.

Today's news has the effect of upping the ante for any prospective lessor/buyer by $150 a month, which I suspect is a deal-breaker for the family who had expressed an interest in that kind of deal a couple of weeks ago.

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