C&K: Marital Woes, Becoming Like Foes | Part 19

Unread post by **chloe6124** » Wed Jul 25, 2018 6:19 pm

askeptichere wrote:
chloe6124 wrote:Gosh this article on the type of financing they got for their house is scary. I bet they end up losing this house. If they are only paying interest that is even scarier. What if they are supposed to secure financing after so long and can’t. This article is a eye opener.

https://www.investopedia.com/terms/p/pu ... rtgage.asp

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Wait, so they’re basically renting this house from the previous owner until the loan is paid in full? Someone explain this to me in layman’s terms.

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It sure sounds like that. They won’t get the deed until they pay the sellers in full or refinance with a typical loan. And the possibility of them maybe only paying interest is what caused the housing bubble.

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Unread post by **onbreak** » Wed Jul 25, 2018 6:48 pm

Yikes
Makes sense tho

chloe6124 wrote:Gosh this article on the type of financing they got for their house is scary. I bet they end up losing this house. If they are only paying interest that is even scarier. What if they are supposed to secure financing after so long and can’t. This article is a eye opener.

https://www.investopedia.com/terms/p/pu ... rtgage.asp

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Unread post by **chloe6124** » Wed Jul 25, 2018 6:58 pm

It also may be why they are able to afford the house if the seller agreed to interest only for a certain amount of time. That’s why they had to get the house this way because they never would of qualified for a house that was that expensive on their income. They really are living way above their means. They live in AL they could of built a new house for half of what this house cost. And it would of been a good size house with nice upgrades. Or even buying a new house that was just finished. I don’t know what goes through people’s heads that go over their means like this. I wonder why the seller would agree to sell them this house in a land contract like that.

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Unread post by **onbreak** » Wed Jul 25, 2018 7:11 pm

Is Katie on a diet or just cutting back eating like Bryan?

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Unread post by **lmmomSD** » Wed Jul 25, 2018 9:58 pm

chloe6124 wrote:It also may be why they are able to afford the house if the seller agreed to interest only for a certain amount of time. That’s why they had to get the house this way because they never would of qualified for a house that was that expensive on their income. They really are living way above their means. They live in AL they could of built a new house for half of what this house cost. And it would of been a good size house with nice upgrades. Or even buying a new house that was just finished. I don’t know what goes through people’s heads that go over their means like this. I wonder why the seller would agree to sell them this house in a land contract like that.

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The house was on the market for a long time. They probably just wanted to unload it.
And there were tons of really nice houses on the market for a lot less when they were shopping. There was nothing _really_ wrong with their old house. Katie just wanted to move because she said that they would move in 5 years, and it had been 5 years. And Jay and Kelly had just gotten their new place. So Katie had to match them. They didn't have to buy a house that cost twice as much as the old one. But Katie had to live in the country club just like Kelly.
No wonder Cullen is stressed out.

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Wed Jul 25, 2018 10:01 pm

No one with money makes a poor financial decision like that one. Someone with excellent credit doesn’t just choose to do a pay day loan, and thats like what this is. They chose the only option open to them so Katie could get what she wanted before they were actually ready.

No way Grand Doc is helping them out, or he would have helped them get the house by at least co-signing.

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Unread post by **chloe6124** » Thu Jul 26, 2018 6:49 am

Basically when they pay this down far enough to the seller where they qualify for a loan then they will go get a real loan. I can’t believe someone would actually buy a house this way.

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Unread post by **Playsinrain** » Thu Jul 26, 2018 6:52 am

onbreak wrote:Is Katie on a diet or just cutting back eating like Bryan?

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she hasn't talked about it on the vlog, but she's doing something. She looks really great. I can tell she's lost quite a bit of weight!

Unread post by **Playsinrain** » Thu Jul 26, 2018 6:58 am

I was never quite sure how they (or anyone with YT as a main source of income) would qualify for a loan. Now i know how they did it. Could be the reason why they chose this house too. Not too many sellers are going to be interested in this sort of loan from a buyer either, so their options were probably extremely limited. The sellers of their current home were probably getting desperate. A loan like this isn't ALWAYS a certain death situation, but they better get their shit together and do what needs to be done to secure the loan asap or they will be in deep shit.

Unread post by **Todays drama** » Thu Jul 26, 2018 9:04 am

How do you know this is the type of loan they have? I believe that Cullen’s dad left him a life insurance policy. That plus the money from the first house I would think gave them a nice down payment on this house.

Unread post by **Playsinrain** » Thu Jul 26, 2018 9:16 am

Todays drama wrote:How do you know this is the type of loan they have? I believe that Cullen’s dad left him a life insurance policy. That plus the money from the first house I would think gave them a nice down payment on this house.

County records. I havent searched myself, but some counties do make that info public knowledge. I highly doubt that Howard left all his children much of anything when he passed, he was battling cancer and hospital bills and funeral expenses add up. There are 4 kids to split whatever small amount was left over as well. His truck wasn't even titled in his name and he was living with Cullen and Katie at the time of his death. I dont think he had much to go around after his death. I think they used most of the purchase price of the old house to pay off that mortgage (since the purchase of the current home was contingent upon the sale of the former) and might have used whatever small profit they gained off that sale towards a down payment.

Unread post by **Playsinrain** » Thu Jul 26, 2018 9:26 am

Katie is posting on twitter about being on a plane... dear god please don't let them be going to B&M's for Ollie's birthday. I cannot stand it when they hang out together, i was hoping those days were over.

Unread post by **onbreak** » Thu Jul 26, 2018 9:57 am

Im intrigued by that mortgage plan.. When my yt career takes off, Ill remember y'all

Im calling a family meeting tonight. The cat gets a toy channel and the dogs a baking channel

Easy street here we come

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Unread post by **Playsinrain** » Thu Jul 26, 2018 10:11 am

onbreak wrote:Im intrigued by that mortgage plan.. When my yt career takes off, Ill remember y'all

Im calling a family meeting tonight. The cat gets a toy channel and the dogs a baking channel

Easy street here we come

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I have no idea what i'm doing but i volunteer to be your editor, I'm sure i can just learn as i go... im super stoked for the dog baking channel

Unread post by **Toodles123** » Thu Jul 26, 2018 10:34 am

The kids are not with them?? I swear if they are going to Oliver's birthday and not take the kids they are just sucking up for the views...

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Unread post by **onbreak** » Thu Jul 26, 2018 10:38 am

Playsinrain wrote:
onbreak wrote:Im intrigued by that mortgage plan.. When my yt career takes off, Ill remember y'all

Im calling a family meeting tonight. The cat gets a toy channel and the dogs a baking channel

Easy street here we come

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I have no idea what i'm doing but i volunteer to be your editor, I'm sure i can just learn as i go... im super stoked for the dog baking channel

Me either.. So let's toss in a podcast interviewing parrots

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Unread post by **beautynoob** » Thu Jul 26, 2018 12:49 pm

Maybe they’re finally going to Costa Rica or wherever that was lol

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Unread post by **Em1899** » Thu Jul 26, 2018 1:03 pm

Am i the only one who sees a third baby announcement soon?

Unread post by **HelloSweetie** » Thu Jul 26, 2018 1:16 pm

Good thing Bennett has a helmet on

. The other two won’t fall and hurt themselves at all.

He’s such a nice looking kid though.

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Unread post by **Toodles123** » Thu Jul 26, 2018 1:17 pm

beautynoob wrote:Maybe they’re finally going to Costa Rica or wherever that was lol

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I'm hoping because they won it and never talk about it.

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