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!  

1 comment:

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.