Home security

By the grace of God, we closed our loan yesterday and are now settled into a 30-year fixed mortgage. Hooray! This is a huge relief, since we really stretched ourselves to buy this house 4 years ago and at that point could only manage an interest-only loan. Basically, it felt like we were renting our house for the past 4 years because we were never able to throw much money at the principal. On top of that, we had an adjustable rate mortgage that was due to reset in 2 years. Our original plan was to sell this house and buy another one here in Ramona and then get settled into a fixed mortgage, but last year we realized that it was not a seller's market whatsoever, and that plan wasn't viable anymore. So, we were looking at an adjustable rate, interest only mortgage on a house whose value was free-falling, and we realized that we had to find a way to refinance this house NOW or else risk becoming another foreclosure story in 2 years. (On a side note, I did breathe a small sigh of relief when I realized I wouldn't have to get this house show ready with little kids running around).

I've done my fair share of complaining about this house since we bought it, especially our crazy hill of a backyard. I am even guilty of thinking "If only we had a backyard that the boys could just run out and play in while I watched them from the kitchen window, then I'd be happy". After going through this crazy refinance process and realizing how real the danger of foreclosure was, I am just thankful to have this house. The backyard is crazy, but the boys don't know anything different. They like going on adventures back there. No, I won't be able to let them go down there by themselves for quite some time, which means I don't have the luxury of sending them outside while I do chores inside, but I shouldn't complain about that, either. Do I really have to do anything so important inside that I can't afford to take the time to take the boys to the backyard? In my best Rex Kwan Do voice, "I don't think so."

We have a LOT of foreclosed homes around our neighborhood and in Ramona, and it's so sad to think how scared and frustrated the owners must have been while they tried to make their mortgage payments and realized it wasn't going to happen. I have a new appreciation for their situation now, because there isn't too much that separates them from us. I do know that this housing market is very good for people who are trying to buy a home, so I hope that amidst all the foreclosures and heartache out there, that there might be lots of young couples and families that can afford good homes.

For my part, I can now say that I would be happy even if this is the only house we ever own, and even if we have a bunch more kids and we're squished for space. I'm just grateful for everything we do have here, and for having a place to call home.