Well my dad finally came to the conclusion we just cant afford to stay up here. my dad is planning to retire and we were originally planning on getting a mobil home up here in PA but the only one we found that would suit our needs was going to be costing us a good $120K in the end leaving us with not much to keep going. we flew down last weekend and found a house in kingwood that my dad plans to buy under a reverse mortgage purchase deal with seems to be going through great, FedEx is letting me transfer to the Houston Hub which works out great because working for a hub gets you much better hours. This is the house we bought

http://search.har.com/engin...7339_HAR43687021.htm

Houston is a fantastic place. I was there just last week.

A lot of tastefully done updates in that house. Not a fan of the reverse mortgage.

quote Originally posted by ls3mach: A lot of tastefully done updates in that house. Not a fan of the reverse mortgage.

I'm not much either but in that marketplace after my dad passes I'll be able to afford a conventional mortgage to pay it back and own the house outright where as up here I would not be able to do that. Also housing values are on the rise down there. when I was looking at getting a brand new construction house down there it was about $120K a year ago. the same house we went to look at it now a little over 150K

quote Originally posted by ls3mach: A lot of tastefully done updates in that house. Not a fan of the reverse mortgage.

I agree and I am a former banker, I consider it a last resort option

That looks like a good deal! Kingwood is a nice area as anyone can see by the pictures. You won't live far from Don up yonder in Cleveland.

I'm a Houston native and while I don't miss the Bayou City, I do miss Texas. I graduated from the University of Houston--Go Coogs!

I am sure you'll enjoy living there and I wish you and your Dad all the best in your move.

quote Originally posted by pontiackid86: I'm not much either but in that marketplace after my dad passes I'll be able to afford a conventional mortgage to pay it back and own the house outright where as up here I would not be able to do that. Also housing values are on the rise down there. when I was looking at getting a brand new construction house down there it was about $120K a year ago. the same house we went to look at it now a little over 150K

Why don't you just buy the house and skip the reverse mortgage altogether?

quote Originally posted by pontiackid86: I'm not much either but in that marketplace after my dad passes I'll be able to afford a conventional mortgage to pay it back and own the house outright where as up here I would not be able to do that. Also housing values are on the rise down there. when I was looking at getting a brand new construction house down there it was about $120K a year ago. the same house we went to look at it now a little over 150K

The closing costs will be very high on the reverse mortgage, you would be better off helping your Dad pay the mortgage.

Right on dude. Glad you guys are doing well. Anywhere is better than Downingtown (and PA in general).

When ya roll out, you better look me up so we can grab some lunch

Nice house.
Keep in mind if it`s in an HOA better keep your project cars out of sight.

I love Houston. I grew up there, and hope to be able to move back there eventually (after I retire). My parents live about 45 minutes north of you.

I'm not a big fan of the reverse mortgage...I agree with others who suggest looking for another financing option. Great house though!

Hoffbrau in Porter is one of my favorite local places to eat. It beats Saltgrass or Chilis hands down.

Love the Dean Martn clip

You're not one to let grass grow under your feet, are you?

Best of luck.

No grass under his feet ---- just growing under his pile of unfinished FIERO projects PK----Good luck to you and your dad I hope Texas works out for you both.
Steve