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Home > My boss bought a house she can't afford

My boss bought a house she can't afford

November 30th, 2006 at 06:47 pm

Now, whenever someone I know does something insanely stupid, I try not to say anything.

My boss bought a house she CANNOT afford, on an ARM mortage at that. Seriously?!

For the past month I've had to listen to her talk about this stupid house. Blah blah blah, my NEW house.

They signed on it this week. Since coming back to work, she's done nothing but look at ways to make the rest of her bills cheaper. Now, this is normally a good thing, but I'm talking about listening to "Hey, can I get a quote please" for four days.

Sigh. I can't say I never make stupid money mistakes. I am very good at making stupid money mistakes. I just cannot believe the stupid money mistakes people make.

Posted in Uncategorized | 9 Comments »

9 Responses to “My boss bought a house she can't afford”

  1. Broken Arrow Says:
    November 30th, 2006 at 07:18 pm 1164914313
    1164914313

    Well... hopefully they'll realize it before it's too late... many years from now.

  2. Lau Says:
    November 30th, 2006 at 07:32 pm 1164915172
    1164915172

    She'll probably realize it when it goes into foreclosure right after the interest rate on her ARM goes up, and up, and up... That's sad, but what do you want to do?

  3. fern Says:
    November 30th, 2006 at 07:53 pm 1164916393
    1164916393

    You're smarter than a lot of 22-year-olds I know!

  4. monkeymama Says:
    November 30th, 2006 at 10:30 pm 1164925803
    1164925803

    I almost posted the same thing- not a boss, but a friend. She alternates between bragging about her great house and how she has arrived, made it there from nothing (with a hefty ARM no doubt). & then since then has whined incessantly how she can not pay any of her bills. From bragging how MAryKay has made her way to admitting she needs a second job (her husband has 1 and she has 1 now) to afford her house.

    YEah if my husband worked and I got a second job I could arrive too, but I would never see my family - hehe.

    It was just when she first had the afterglow of buying such a fancy house I Was kind of rolling my eyes as she bragged how great she has done financially. I could technically afford a $1 million house if you ak any mortgage broker but there is no way I would go that route - I would be bankrupt in NO Time. IT is ironic someone can think they are doing so good and people like us just sit here flinching, seeing the writing on the wall.

    If they are lucky, they will do okay, but there is no room for error in that type of situation.

  5. yummy64 Says:
    December 1st, 2006 at 01:21 am 1164936102
    1164936102

    She's a big girl and is following her own path. Alas, not much you can do.

    And a great role model for how not to handle money.

  6. Broken Arrow Says:
    December 1st, 2006 at 02:15 am 1164939337
    1164939337

    I will add that it's very refreshing to see women who don't see this as a good idea.

    In real life, the few women that I have been around think that not only is having a big, expensive house we can hardly afford is a good idea. But somehow, it's more akin to a birth right!

    So, yeah, I got excommunicated for heresy by my ex and her friends. I'd laugh if it wasn't so sad the way things turned out. Sigh.

  7. tinapbeana Says:
    December 1st, 2006 at 05:05 am 1164949545
    1164949545

    BA, i'm guessing lots of ladies here aren't quite the 'big and flashy' house types. i myself bought a house older than my grandparents for 1/3 the mortgage 'they' said i could afford, but it's 2x the size of my rental! and it came with such a lovely 'garden apartment'

    Big Grin

  8. Broken Arrow Says:
    December 1st, 2006 at 02:56 pm 1164984999
    1164984999

    The irony, Tina, is that I too am like that.

    I too want a nice house someday.

    I too want to live comfortably.

    My hopes and dreams are no different than what my ex and my friends want out of life! The ONLY difference is how we go about getting there! I don't want it right now if it means for everything to fall apart and wallowing in sheer misery. I want to do it right, and I can wait if I have to.

    I wish honest wish they could see that, instead of rubbing in on me about how her new boyfriend doesn't hold back and buys her stuff and takes her skiing. ARGH!

    My apologies. I was having a moment there. Stick Out Tongue

  9. reginaastralis Says:
    December 4th, 2006 at 06:18 pm 1165256331
    1165256331

    Have you all seen the tiny houses they are going to produce to try to help the Katrina victims rebuild. I can't remember what they are naming them, but they are TINY.

    That's my kind of house. I like small affordable homes. I don't understand the purpose of having a great room and a den. And what's a formal dining room for?

    The style I love are bungalows. Sadly the gorgeous bungalows around here are going for 5x more than I would ever want to pay.

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