[StBernard] land use

[Westley Annis]

Jer,
 
   While I couldn't agree more with much of what you usually say, I have
problems with the buyout as it stands. You see, I owed, $112,000 on my home.
I received $100,000 in insurance payments, and it appraised at $127,000.
While $27,000 would be a great downpayment, my only problem is that there is
no way I could do the down payment and get the interest rate I had on my
home- 5.25%. AND, because of a divorce, I no longer have the "income" to
warrent the note, even though I had no problem making payments. So how does
this buyout make me whole? I would have to live in a "lesser" neighborhood,
whereever that may be, I would not have my job of the last 8 years to
warrent giving me the loan, and I would be paying 6.5% interest unless I pay
points, which aren't included in the "buyout." So, currently, I have  a
mucky house, albet paid for, and instead of monthly house notes, I could do
monthly "projects" with the housenote until the house is finished. There is
no clear answer, but the buyout as it stands, won't be fair to those of us
who had insurance.
 
Wendy Hall