financial aid and rants and raves

Just like a pricker bush. Actually, that begs a question: what exactly is a pricker bush? Anyway, it seems I've fallen into one with this apartment. It's costing me time and hair follicles and will probably end up costing me August's rent. It may even cost me the apartment itself. Evidently neither my mortgage broker nor my attorney have the warm fuzzies for each other, and the delay may scuttle the deal. I'll know more this week. I have a back-up purchase just in case. Still, I'd be bummed if I lost the place. I'm getting what is effectively a 10% discount on the going rate, and as mentioned in previous posts, this is exactly what I've trying to accomplish. The principle is as follows: get the price I would have paid 2 - 3 years from now, watch the valuations match my price, then wait for property values to slowly increase. My accepted offer is 67.5K and comparable units are now 74K. 2 years ago the price would have been

The back up plan is even greater in price difference. The unit is a small cabin in Ossining for 20K. 18 months ago, it was selling for 70K. The legal ownership structure is similar to a co-op or leasehold, and you don't own the land under the cabin. Still, the price is more than right. I could take a bath, though. If the apartment I wish to buy could have been purchased at 10K in '98, how low would this thing go? Yeesh...

Anyway, I need to post a recap of Alex's visit, but I need to be at home so I can type without pause. More... you know.