I am a young adult, just bought my first home. Feel like I don't have any money to do anything but pay the stupid mortgage.
124875
I know the feeling. I had to cut back on a lot of things when I first bought my home. You'll have to get used to the bills & the new budgeting you'll have to do.\n\nTry reading one of Suze Orman's books, I like 10 Steps to Financial Freedom, although she's had a few more since then.
326919
Your story breaks my heart, and the sad thing is, so many people across the country have a similar story. People today have not been properly taught to manage money. It's also pretty difficult since cost of living increases have risen exponentially and pay at most jobs has increased minimally if at all.\n\nCredit cards are a very dangerous thing. My best advice is to cut spending to a minimal. Cut out the things you don't need. Make out a monthly budget for you and your family and stick to it as best you can. Allow for emergency and a little for entertainment, but be careful about spending more than you need to.\n\nIt's OK to rely on family and friends for help. Ask people to babysit for you when you need them to. Have them help you look for a new, better job.\n\nIt's going to be an uphill battle, but you can do it. You have to for yourself and for your kids. Good luck. :-)
614619
Really straight forward:  no unsecured debt.  If you have credit card debt get rid of it.  Use your 25K if necessary.\n\nNo car payment - pay off any installment loans you have.  Use your savings if necessary.   You wil then be able to save expedentially each month.\n\nWhat kind of house are you after with $75K down?  That's a huge down payment for a first time homeowner of any age!\n\nYour first house should not be your dream house, it should be one that you can sell in 5-7 yrs to the next first time home buyer.  \nMake sure the location supports the property.  Buy the smallest/least expensive house in the best neighborhood.  \n\nDon't buy the biggest/most expensive house on the block...lose out on equity potential.
538547
Is your home your investment tool or where you want to live?  It's nice of course to expect to make some money when the time comes to sell your home, but there is actual value in liking where you live, not to mention having a mortgage well within your means.\n\nStay where you are, make your house your home.  Enjoy it and live with little financial stress.  That's better for your health, your marriage, your children and the country.
606379
What are you trying to get away from? Are you living with your or his parents or are you in a bad rental situation? Find a nice apartment to rent (condos are good). As others have said, you will not be able to buy a house until you are 18 unless you have an adult to co-sign. Do you have someone who is willing to trust you and back you up? \nGood luck, I hope it all works out for you.
584489
You make 2000 a week.  Your mortgage is only about 1400.00 a month.  You should have tons of money unless you are living beyond your means, and aren't we all?  Keep the stock if doing well, if you sell you'll get killed with the capital gains, especially in your income group.  OR, sell the loosers or a portion of thes stock and put it into other vehicles.  Pay a couple extra dollars every month on the mortgage and it'll be paid off quicker.  Start saving something, even if only $1000 a month.  Try living a little simpler, and getting rid of some of those toys.  Yes, you can live without that big boat, some of us only have canoes, and you don't need the luxury sedan, they have all the same toys in cheaper cars.
500756
Easy, as much as you can afford!, \n\nAt the minimum I would suggest no less than 25% but the more you put on, the less interest you will pay in the long run and you will be mortgage free years ahead of schedule!\n\nWhen we brought our first house we put every cent of savings we had on to the deposit (dont be fooled going for the minimum payment, it adds thousands to the interest!)\nwe also went for the shorter term (25 years instead of 30) to help force us to pay it off quicker (you can always re-mortgage if you get in the poo).\nAnd then we proceeded to put 50% of our income on it for the first 3 years, we have now lowered our payments as we are traveling and renting the house out, but once we return we will put the payments back up.
559655
Buy a home if you want to...build some equity, you can always sell it when the time comes. Good Luck
594047
You can *not* do anything you want, but you are free to *aim* for it!\n\nSet yourself three or four goals, things to achieve in five, ten, twenty years. Reasonable goals. Not easy ones, but one that you might be able to achieve, give or take a little luck. \n\nWrite them up and regularly take stock how far you have come, what needs improved.\n\nOne of my goals was to own my own house.   Paid off and all.\nDone!
431613
19 and looking into the future..\nThat is a great start my young grasshopper....\nYou are on you way to big adventures if you are smart with your decisions...\n1st you need to evaluate your expenses becasue if you do not have the money, you can not do it....\nIf I were you start looking at prices and conditions, meaning size of house, bedrooms, bathroom, lot size, taxes, insurance, etc...\nNow start saving $5000 per year, and in 5 years you will have $25,000 to put down on a nice home.....The more you put down the better loan you will get and easier process.\nYou have to calculate what you make a year and to see if you can afford the Mortgage, taxes, and insurance, etc....\n\nI bought my 1st home when I was 27, I put $20,000 into it, and now I own 3 more houses...\n\ngood luck
346348
if they are insisting that you will just be in the way, then leave it like that. as exciting as it was before and probably will be for the rest of your life, you have to take into consideration in what your parents say. you should work on improving your behavior and prove to them that you are r-e-s-p-o-n-s-i-b-l-e and that you can act civilized when doing grown up things with them. \n\ni understand as a child that they dont have much of say when it comes to adult decisions, but you can mention that you want to feel comfy in your new home too and that you would like to see what houses they're looking at. buying a house is a big thing and all family members should be a part of agreeing with the house, but if youre going to act wild and run around an empty house- youre not going to get anywhere.
195648
Sell your truck and use the money to pay your house loan.\n\nI suggest you to sell everything you own (Including your bed) and pay your house loan before you are kick out of your house and you end up homeless.\n\nPlease let me know how much debt exactly do you have in your house loan and how much is your house worth so I can find you a buyer for your house before your house becomes property of the bank.
220178
Let me tell you the minus part-\n\nBought my grandmas home valued at $595K, took out a loan for 436,000.  Plumbing was $6000 off the bat, interior painting, wall paper removal $1500.  Tons of homes in her area have come up for sale 495K-630K, and a few closed after 3+ months for sale.  Decided to rent the place for $2200, loan is $1750, insurance $90, and property tax is a mess right now.  Rent not covering the PITI ( even on neg am loan).  Gardner's raised fee due to gas, I pay water and trash. \n\nIf I sell, I am subject to capital gains on any money I make.  Based on price I paid, that was never disclosed cause there was no contract I am in a bit of a mess.  They can actually base my capital gains off the price my grandma paid on the home $19,000.\n\nUnless your related to Donald Trump, I would stay away from the real estate investing until you get a grasp on the entire picture.  I am finding it incredibly hard to remember what the basis was for deciding to take on another property.  Even with my own personal income 10K month, & rent for the home I am finding it necessary to balance my checkbook for the first time in my life.  It may turn out great down the road.  To date, its taken entire days away from my regular job, required more up front money then budgeted, caused a potential tax mess, and the worse time to try and sell in a historically desirable neighborhood of custom homes.
613659
My husband and I were truly blessed we we bought our home. There is a program called Ameridream and if you are a first time homebuyer or a minority, the government will cover your downpayment. No gimmicks or paypacks. It was awesome. We saved 5k on the downpayment. We got an interest rate of like 6% and if we did a 80/20 the rate would have been 7.5%.
323067
Your income plays a part in this as well.  If they feel you don't make enough to handle the mortgage, plus the utilities, plus property taxes, plus homeowners insurance, plus your outstanding loan.  If I were you I would pull my credit report & make sure there was nothing showing that wasn't mine.  Also, the county or state may have some 1st time homebuyer programs available.
342654
I'm only 22 and I can see your being wasteful. Should take that money and save it and put it on a down payment for a house. Then when you have that house paid off buy your car. Maybe take that money and start paying student loans off or pay for more schooling...unless you got a free ride.  \n\nDue to the fact you have no real job. I'm guessing you're not going to get many banks to finance you, unless you have a co-signer.  Even if you do get a co-signer you're only 20 and high risk. You'll have to get a loan for 9,000 and all the other taxes that come along...maybe warranty. They'll bring it to about 11,000...you'll be paying about 300-350 a month. But remember you'll pay interest first, and no principle.  Depending on 3 or 5 year loan. Now you have to remember about car insurance.  Since a bank is financing it you'll have to get Full liability coverage. That will hike up your payments to the roof. Hopefully you have been a good driver and have a bunch of discounts. If not, you'll eat up every bit of your monthly wage for this car.  Forget eating, and gas.  You'll probably go back to begging parents for Ramen soup money. Ha ha, sorry man like I said I'm 22, been there 2 years ago. Thankfully I didn't go thru with it.
524965
Hei! I so totally understand what you are going through!\n\nI just can't stop spending even though I kept telling myself to save up!\n\nBut then one fine day I decided to 'freeze' my money. Get advise and assistance from the bank. You get to decide how long you want to 'freeze' this money. In this way, you know you have the money but you can't touch them! Eventually, you will get used to saving up and once you see the fruit of your labour (the amount of money you have saved up), you might even be motivated to save some more.\n\nTo me, it feels good to know I have that much money and that I can spend them in the future. The more money I saved, the more I can spend in the future. It motivate me greatly!\n\n'Procrastination to spending' is the key answer! Try to delay spending!