Alexis and I have been doing research for the past few months on home loans and on Friday came to the conclusion that we simply can't afford to buy our existing townhouse that we are renting. We love it and would but it if we wanted to spend close to half our take home pay in loan payments…. but as insane as we can be with life, that is something we just don't think is wise.
So we started looking for homes that we can afford, there actually are quite a few in the sub 200K range, many of them either short sales or foreclosures. We actually found an amazing deal on a 2600 sq ft 1971, fully renovated, split level, and we began to pursue it. Things were looking possible until today when I looked into the balance of our investments thinking "aw they couldn't be that bad"… oh they are – over 50% loss in value. So now we don't have the amount needed for our down payment. The cool thing is that if you're buying a house this year (before the end of Dec '09) there is an $8,000 tax credit. So even if we borrow from family we need we can reimburse by tax return time next year.
This is disapointing but we know it means that God has something more perfect for us. Something that will propell us into our ministry in Poland even better than we thought. Because we know this we can actually be excited.
It's overwhelming and stressing and still we have a hope that is unexplained. Thanks for your prayers and thoughts. We know the provision will come in, always has.