Sunday morning, Mister and his tender half, dream of more space. They think of moving out of their tiny apartment. In fact, they hope they can finally afford a cozy house: their first house.
Mister proposes to contact their bank as of the following day; two days later, they suddenly sit in front of the nice mortgage clerk. After some quick questions, some fast typing and several smiles; a sheet is frantically printed in the adjacent room, the verdict is out: $300,000!
Wow! Our young couple is ecstatic, they can stop to dream of a house; they now can afford the house of their dreams! And all this, despite their income…their modest income.
But their dream will probably transform into a nightmare if they don’t wake up soon. At this moment, they only think of their house; their castle in fact. They don’t think of the financial burden, the high monthly payments of more than $1900 (@ 6% over 25 years) and of all the expenses that come with a big residence.