Reply to Anyone at $330K HHI have a mortgage that is $4900/month (37% of net pay / 17% of gross)?

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Reply to "Anyone at $330K HHI have a mortgage that is $4900/month (37% of net pay / 17% of gross)?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]no worries, it's obvious that grandparents are loaded (500k college fund gift!). they are banking on mad inheritance, otherwise why would he be treading water as a fed while she stays home and racks up debt? it's all play money to them, b/c in the end they'll be able to kick back. I'm guessing DW parents who have money, and DH reluctant to stretch now for bigger house hence she is trying to get a chorus of support that it is reasonable from DCUM. [/quote]

OP here.  We're definitely not banking on an inheritance.  Grandparents have made it clear that the college funds and the occasional annual gift are what we can expect to get.  We have no clue what their assets are but they live pretty frugally (except for a nice vacation each year), and neither my DH nor I realized that they had much money until they gave us the college money for the kids about 5-8 years ago.  We both grew up middle class.

DH and I would do anything to avoid asking the grandparents for money in a pinch because the grandparents would think we were pathetic because we have good educations and should be able to make enough money to support ourselves.  So that's not an option -- we really need an emergency fund.  [/quote]

PP here, then you have to really batten down and get things in line b/c acquiring 10k in credit card debt in your crazy.  You should table this house upgrade plan until you have been working a few years, have fat emergency fund, and KNOW you can live within your means.  [/quote]

Why would you need an emergency fund in the case of feds[/quote]

Haha, hello govt shutdown.  Hello illness that forces one of them home abruptly (and unable to watch kids).  It's not just about layoffs.[/quote]

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