Friday, August 2, 2013

Twenty-Five John Hancocks

by Pa Rock
Borrower

It was just a few years ago that several of the big banks tanked and almost took the country down with them.  At that time they were loaning money, with little more than a wink and a signature, to people that couldn't afford the properties they were buying.

Recently I took a trip back to the Ozarks where one of my goals was to find a retirement property.  I had a place in mind, but it turned out to be too run down, especially for the price.  My son, who lives in the community where I was house-hunting, then suggested a place that he had spotted about four miles from his house.  The little farm had a nice home, tight and in good repair, several serviceable out-buildings, a new pond, and ten lush, green acres with plenty of trees including a few hickories, a couple of Paw Paws (Ozark bananas), pines, cedars, and even a nice walnut tree.  The place was beautiful beyond description and it was priced to sell quickly.

So I bought it.

While I could have sold some stuff and bought the little farm outright, I chose instead to borrow a good portion of the sale price from a local bank - one with which I have a long history.  Today Fed Ex brought the loan paperwork, and I spent the better part of the afternoon reading forms and disclosures and signing my name.  I also had to write a letter explaining my last several addresses.  (The one in Japan apparently made the lender nervous.)  But I persevered and, twenty-five signatures later, had everything in order and ready to send back to the bank.

It would appear that the banks did learn something from their most recent debacle.

I hope to be in residence at the farm by April 1st.    Come see me and share the peace, serenity, and free-range eggs.  We might even play some dominoes or pinochle!  

2 comments:

Xobekim said...

Congratulations.

Don said...

Congrats, Rock!

I'm leaving the rat race myself at the end of the year. Too many deadlines over too many years have finally taken their toll.