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Blog Fog

February 28, 2011

I haven’t written a blog entry in a while, and it’s mostly because there’s been some stagnation in moving forward with the theme of this blog itself, namely living in a more rustic fashion in the modern world.

I’m trying to buy a house and it’s taking forever. A short sale, meaning the house is selling at a loss, meaning the seller needs the bank’s approval to sell it for less than is owed on it. My offer – and another one – have gone to the bank for approval, and now they are getting an independent value assessment before choosing which offer to move forward with. I’m fairly certain my offer is higher, but that doesn’t mean I’ll get it. And neither offer is guaranteed at the current price – the bank could still negotiate, or simply refuse both offers and foreclose.

Doesn’t sound much like Walden pond, does it? These are odd steps to be taking to get where I want to be.

There’s a tragic element to it as well. The current owners are losing their home, are trying desperately to sell it to anyone at any price to avoid foreclosure. Maybe they will, and maybe it’ll be me who buys it, but however it goes down eventually they’ll leave and someone else will move in with a new,  most likely substantially reduced, mortgage.

If the overall effect of this transaction is that the house payments are less, why does the family who lives there now have to leave? Why couldn’t they refinance their mortgage in such a way as to make it possible to stay?

Oh, that’s right. Then umpteen million other homeowners would want to lower their payments as well. Can’t have that happening. In the name of the market, you must make your mortgage payments or else!

Laws are ad-hoc attempts to instill equality into an unequal world.

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