Hating banks very, very much right now...

[Ibicella]

Looks like I won't be getting my farm after all. With the meddling from the banks, we are severely restricted on our mortgage type in what we can get to purchase a home. For no real reason other than the banks are trying to gouge more loans out of us that we don't need and can't afford.

We're trying to find a place now with less than an acre where I can at least keep a few hens, a hive of bees, and a small vegetable garden.

I'm just frustrated with the delays in my dreams. Being a farmer is all I've ever wanted to be since I worked on one as a kid and loved every backbreaking dawn-to-dusk minute of it. It's how I want to spend my career and my life. *sighs heavily*

SO dissapointed right now, but trying to keep my chin up and look at the bright side that at least getting a home will help us build equity for later and we're getting out of this 600 square foot one bedroom apartment.

 

[sfw2]

Sorry you're having a tough time getting the financing you need. Have you talked to a local bank in the area you're looking to buy? Maybe you could qualify for a Rural Development Housing loan??

 

[MelanieR]

The whole housing market is in shambles right now. It's up to you whether you want to compromise on it or hold out a little longer to see if next year you can get the type of home you want.

We just tried refinancing our small home and 5 acres... it was a disaster. 4 years ago our property appraised for $135,000. This year it appraised for $92,000. We were hoping to move to a location with a little more land so we could get into farming a little heavier. Now we're going to stick here for awhile and lease some land off my mother-in-law.

Hope you can make the right choice for you! You have sympathies... there are many in your shoes.

 

[cassie]

You might try doing an internet search for real estate. And check into owner financing. I don't know about Washington, but there are many properties available here in Missouri that the owners are happy to finance themselves.

 

[sumi]

I've been haunting property sites for the past year as we're also looking to buy a piece of land. There are bargains out there! Try repossessed property auctions. You don't have to go bid, you can put in an offer on most beforehand. Don't give up your dream. I'm sure you'll find something. As MelanieR said, the property market is in shambles. It's a buyers market now.

 

[HeatherLynn]

I would skip the big banks. Try rural banks and farmers banks. Try usda loans also. Sometimes you gotta think out of the box.

We decided to skip all of the above and go mortgage free. It puts our dreams off another 2 years but then we can pay cash. The banks can stick it cause they won't get a dime of interest off me. A book by Rob Roy called mortgage free that I found at goodwill got us started on this plan. We got through the first year and now 2 more to go.

 

[EweSheep]

We won't be getting our house out in the country, a repo, and many of the banks around here would NOT touch a repo house at all. Frustrating and disappointed. They told us if we can find another country house that is more up to date instead of a minor DIYer (needing shingle replaced, new LP furnance and new windows) and they MIGHT finance us. However they did say they are very very nervous right now about loaning out big $$$$ but perfectly fine with cars and motorcycle loans as well as camper with wheels.

We are going to stop looking and sitting here, and save a bit more for down payment unless a health crisis comes up, taking all of our house savings up.

 

[ladychicken&Ducklover]

Credit Unions are an excellent way to get started. I dont know if you have them where you are but there are several types, such as Catholic Credit Unions..Hope it helps..

 

[chickenzoo]

Yep..credit unions offer a lot of nice loans. I know our Navy federal has loans for Mobile homes just like a house..unlike many other banks that treat it differentlybut other CUs have different membership like Vystar and many others and are open to the public.

 

[Habibs Hens]

i hate banks toooooo

i cant get my wife added to my account

silly and stupid thing too

her maiden name is on her passport but every other government offical document its her married name

but the bank wont go with any other official document but only her passport and her maiden name on it means she cant be my joint spouse on the account

grrrrr banks are so annoying


hope you get your farm and the banks pull throught for you