loan take-outs and unexpected expenses

when i decided to go for mission mactan and get myself one li'l row unit, i only thought of the PhP5700++ amortization. i told myself that i could do this since i could actually spare this amount on a monthly basis and still get a few extra from my pay. then i soon realized i had been foolhardy for not thinking that there'd be other expenses to consider. to know what i mean, do read on the following post.

august 6, 2007: update on the mission

earlier this year, i deluded myself into thinking that i could achieve what i’ve always dreamed as far back as high school: getting a house and living on my own. though i’ve wanted to have a house of my own, or even a room at least - i never dared act on it for the reason that i just couldn’t afford it. not if i’ve only my salary to depend on. the thought of being in debt for the next 25 years scares the hell out of me. i just couldn’t face the fact that in the next 25 years, a bigger part of my payroll will go to a certain government agency. NO WAY. then i saw khali's owner. he was super excited with having a house of his own. as in, i didn’t see any hesitation whatsoever about going for it, even knowing that perhaps "ma.utangan" for life. the sheer determination and utter belief in himself that he could get the house on his own made me reassess my own capabilities. seeing that strong belief in himself that it’s possible made me think that perhaps, i too, could achieve it. heck, i’m paid higher than him - thus, carry ra pud siguro nako. haha, i failed to mention that he knows a lot of "rackets" to earn him few more bucks. but that’s beside the point. so yeah, acting on that inspiration that i too could do it, i paid the reservation fee about eight months ago. settled the equities four months ago. two weeks ago, however, i learned that i couldn’t get a loan for my actual need. you see, there’s a ruling that the government affords only 95% of the property’s appraised value as loanable amount. so i was told that i could only loan XXX amount, and that the remainder will be considered additional equity. this amount i would have to pay in the next few months until january of next year. all right, carry pa vet.

a week ago, i got another call by the developer telling me that the contracts [loan application, contract to sell, mortgage agreements and a whole lot more..] are ready for me to sign. i’m talking about 100 or more pages of agreements which my busy schedule doesn’t allow me to peruse closely, and yeah, it’s a stupid act - i signed all of them saved for one agreement that i totally dig]. anyway, so last saturday i went to the developer’s office to drop the signed contracts. to my horror, i’m in for more payments in the guise of "move in fees," "homeowner’s fees," "insurances," and that amount that the developer has to get because the government takes out an advance payment for something. so there.

now i’m thinking? kaya pa vet?

huhu, we’ll see.