I owe, I owe . . .

In one fell swoop yesterday, one swipe (well actually a lot of swipes) of the pen, G and I went from owing no one to the probability of owing a mortgage company.

Last Sunday I went to look at a house on the street behind us that has gone into foreclosure. It has been on the market at least three months, and vacant for two. I was really afraid of that house - I mean its condition. The pictures on the Multiple Listing site here were grim. There looked to be a lot of damage upstairs. They stated water damage. I thought the roof was gone.

In reality, it seems the a/c condenser pan overflowed and some goober fell through the ceiling while working on it. The goober may well have been the owner.

I took Daughter and Contractor. We all felt that the house was really fairly nice. It seemed the most it needed was cosmetic. Of course, when we had "the flood" about 5 years ago, it did flood. But I know the city has done a lot of work on the drainage, and the county is doing more.

So G and I made an offer on the house yesterday. We had to go through the pre-approval process. Get this - we are tentatively approved. We have to furnish the taxes we pay on our properties, the insurance, and the deeds to properties. I know the mortgage companies were too lax before, but . .

So IF it goes through - the bid, the mortgage, and the inspection (I wouldn't buy it if there are major structural/mechanical problems), we will have an investment property. The next step is to form a limited partnership with the kids - if they want in.

It is sort of exciting. We've been toying with this for several months now. The first step has been taken. We will know in at least a week.

Peace.