Well those two years ended in the 2008 housing crisis. We were now in a mortgage that we saw no way out of. Our home was now not worth what we owed on it. How could we ever refinance now?
Along with this hefty mortgage payment we started to experience problems with the HVAC system, the electrical system and the plumbing. It had become a house of horror. Do you think it was ever offered or suggested to us to get a Home Inspection?
Absolutely not! So now we have a home that is no longer worth what we owe and facing major home repairs that were in the thousands of dollars to repair.
Due to the housing crisis and poor economy in 2008 we struggled to make this outrageous mortgage payment.
This all took its toll on our life and our marriage and we finally lost our home seven years later to foreclosure. This was both devastating and stressful. The range of emotions went from embarrassment to depression. You feel like a failure. How could we let this happen we wondered?
Thanks to the support of family, friends, and our faith in God we were able to get on our feet and regain our strength to press forward, determined more than ever not to give up.
During this time of recovery we were able to reflect on what went wrong? First of all we realized the mortgage loan and payment were beyond our budget.
Lesson: Just because your realtor and or mortgage company says that you can afford to finance this home make sure it’s not beyond your means. Make sure your realtor and mortgage lender understands YOU!
“This is why we believe so strongly in what we do. We want everyone to have a thorough, accurate and trustworthy overview of their potential home purchase. It’s at the root of everything we do here at Top Notch Inspection Services.”
Lesson: Always, Always, Always have a home inspection. It is always wise to have someone skilled and knowledgeable to give you a general overview of the home so that you are well informed of its condition. Had we done so we probably would have never purchased the home or at the very least bought it for less, knowing ahead of time that we would need to make repairs.
Thirdly, make sure you have a realtor that is advocating for you and not just for his or her commission.
Lesson: Have a good working relationship with your realtor. Make sure they are your advocates and not just out for their personal gain. Make sure he or she understands your needs and wants and is willing to respect your wishes.
When we reflected on all of this we realized that we never want anyone to go thru what we experienced. If we had just taken the time to educate ourselves on the proper home buying experience we would have known to get a home inspection prior to purchasing our home. This is why we believe so strongly in what we do. We want everyone to have a thorough, accurate, and trustworthy overview of their potential home purchase. It’s at the root of everything we do here at Top Notch Inspection Services. We truly care and take pride in what we do. No one should struggle with repairs that should be in proper working order once you purchase it. This goes for new construction too. We want to educate and inform you so that you can purchase your home in confidence. Even if it’s a minor thing, we are going to tell you about it because this is a major investment and you deserve to be informed.