It is Sunday, January 7, 2018, at 6:42 pm. Today’s blog post was supposed to be about food and fitness, but I needed to take a brief intermission in light of what happened today. I’m speaking to you straight from the heart, no affiliate links, and no filters. The Good Neighbor Next Door program gives officers, teachers, and firefighters the opportunity to purchase homes in neighborhoods that need stabilization for 50% off of its asking price. The buyer has to occupy the residence for 3 years. Most of the houses need renovation, however, the buyer may apply for a rehabilitation loan which is still a great deal. I’ve known about this program for years, however, I’ve never taken advantage of the opportunity to participate in the program. Most of it had to do with my urgency, lack of knowledge, and lack of patience during the purchase of my first two homes.

Missed Opportunity

Recently, a house came on the market for $166,000 which means that under the program, it would have been $83,000. Bidding closes on January 11, 2018. I immediately called a realtor who is an expert in regards to the program and he gave me the name of a lender. I called the lender and told him my situation and my credit score. He replied, your credit is definitely good, however, I am concerned about one thing. I was silent because I knew what it was. A little over a year ago, I agreed to sign a deed in lieu of foreclosure which is almost equivalent to a short sale to get out of an underwater house that was purchased in 2007. The process took months and I received a huge relocation fee, although I had already moved. That money was deposited directly into my savings account.  I made out for the moment.  Apparently, you have to wait to get an FHA loan for 36 months after a deed in lieu of foreclosure is filed. Well, missed that opportunity and lesson learned.

Some Improvement

Although I’ve come a long way with savings, improved credit score, and I’m more conscientious of my spending habits, the past still haunts me today. I say that because I wish I was more patient back then when purchasing real estate and I would have been in a better position today. I wouldn’t have to wait for sh#$!

I’m currently renting a nice place. But in the back of my mind, I realize that my rent is paying someone else’s mortgage. I will continue to stack my dough while I wait patiently to make my next move.

Keep Your Head Up

On a positive note, all is not lost. I’m working on increasing my net worth and I set monthly savings goals for different accounts. My son also told me that he has a good amount of money saved ever since he started automating his savings a few months back. Damn! Somebody is listening to me. He also wrote out his list of priorities for the next couple of months. Funny how your conversations change when your children become adults. Today is still a good day. Be patient. Yes, there will be obstacles, but all is not lost.  How was your day?





Please follow and like us:


  1. Great information. This article will help me with trying to get my financial situation in order. Thanks for posting this!

  2. Isn’t this the truth! My divorce left my credit in shambles, and it took me years to get it back up into excellent territory. Now I guard that number with my life! And I love that you are teaching your kids about personal finance…it’s one of the things I wish was more heavily included in school curriculum.

    1. Yes I think it’s the most important lesson that should be taught in schools also. I learned nothing about it in school. Thank you for reading this! I’m glad your back on track!

  3. Wow! I am so sorry to hear about our lost opportunity. I had no idea about some of these rules. We nearly had to file for a short sale last year to keep from losing our home and after reading this, I am so glad we didn’t go through with it. Thanks for sharing.

  4. Great stuff! I often wonder about missed opportunities all the time. I want to invest in property but the housing Market is OUTRAGEOUS in Toronto and I can’t justify spending $600,000 on a starter home. My dilemma is if I don’t start with something now the property values are going to continue to rise. The problem is cost of living increases but the salaries and wages don’t.

      1. It is crazy! Well a condo is maybe 40% less and moving somewhere remote outside of the Greater Toronto Area (GTA) will probably be cheaper but there are several cons for going that route as well. My partner and I are hoping for a dip in the market and then we will (Hopefully) invest and not have to move 3-4 hours away from our family and friends lol.

  5. No matter how great this opportunity was, it wasn’t for you. Imagine, we always say God works in mysterious ways. You could have gotten the house only to find out underlying problem that aren’t revealed. You may have missed a great opportunity, but if you are a believer, God has something better in store. Regardless of what the net worth may be, or regardless what the credit score may be; that door will open wide. Just have to wait and be patient. Your story will definitely help those in similar situations. Keep talking to your children. They do listen. Every morning I sound like a recorder before I leave my kids.

  6. I honestly have to say when it comes to finances my husband stays on top of it. He’s so responsible he makes me want to be responsible. He’s the guy who pays credit card bills off in full every month while I’m the one who pays the minimum. Making sound financial decisions effects us in the present and future.

  7. Great you learned from your past mistake and have also decided to improve on your savings too. One thing i know for sure is that with this financial life will improve and be better.

  8. great post! this is some very important information you shared! I’ve made some stupid financial mistakes in the past, that I have thankfully fixed! Thanks for sharing this!

  9. I wouldn’t dwell on it. This is in Baltimore correct? While 50% discount may seem like a great deal, there is a reason for the program. You may have avoided being trapped in dangerous neighborhood for three years and/or avoided a “money pit” that would be full of contractors and hidden expenses for years before you could enjoy it. I say, “Thank God you signed that deed in lieu!” Renting gives you flexibility and mobility while the city figures itself out. You’re in a good position.

  10. Ugh! I have a foreclosure in my past and am now in a position to consider buying. However, I have to wait too. It seems the recovery times of deeds in lieu and foreclosures are similar.. I never want to be in the position I was in the past so it has become my greatest teacher.

    1. Yes, it’s definitely a learning experience indeed. I wish you the best of luck and we will be patient together! Thank you for your feedback and transparency!

Leave a Reply

Your email address will not be published. Required fields are marked *