House Hunting/Your Opinion Please...

In this last General Conference (Oct. 3, 2010), President Henry B. Eyring gave a talk that really caught the attention of both myself and Matt. The part that was most impressionable to us was this excerpt from his talk:

"Years ago I heard President Ezra Taft Benson speak in a conference like this. He counseled us to do all we could to get out of debt and stay out. He mentioned mortgages on houses. He said that it might not be possible, but it would be best if we could pay off all our mortgage debt.

I turned to my wife after the meeting and asked, "Do you think there is any way we could do that?" At first we couldn't. And then by evening I thought of a property we had acquired in another state. For years we had tried to sell it without success.

But because we trusted God and a few words from the midst of His servant's message, we placed a phone call Monday morning to the man in San Francisco who had our property listed to sell. I had called him a few weeks before, and he had said then, "We haven't had anyone show interest in your property for years."

But on the Monday after conference, I heard an answer that to this day strengthens my trust in God and His servants.

The man on the phone said, "I am surprised by your call. A man came in today inquiring whether he could buy your property." In amazement I asked, "How much did he offer to pay?" It was a few dollars more than the amount of our mortgage.

A person might say that was only a coincidence. But our mortgage was paid off. And our family still listens for any word in a prophet's message that might be sent to tell what we should do to find the security and peace God wants for us."

THEN, two weeks later at church, a speaker in Sacrament Meeting quoted a past talk by President Hinckley on the same subject:

"When I was a young man, my father counseled me to build a modest home, sufficient for the needs of my family, and make it beautiful and attractive and pleasant and secure. He counseled me to pay off the mortgage as quickly as I could so that, come what may, there would be a roof over the heads of my wife and children. I was reared on that kind of doctrine. I urge you as members of this church to get free of debt where possible and to have a little laid aside against a rainy day."

Needless to say, this mortgage topic has been ON MY BRAIN this month.

So, I started to search for houses that I could pay for in cash and be free & clear of a mortgage altogether.

Here is what's out there (for my family of 7 and my work-at-home/"office required" situation).

Option #1

1985 Woods Cross Manufactured/Modular home

2 Bedroom/1 Bathroom, 900 square feet, no garage, .12 acres

$65,000

(With a special remark from the agent, "You own the land!" Oh goody! There's so much of it.)

Option #2

1980 Woods Cross Mobile home

3 Bed, 2 Bath, 924 square feet, no garage, .12 acres

$67,900

(Another "You own the land" remark in this listing.)

Option #3

1943 Clearfield Ranch house

3 Bed, 2 Bath, 1468 square feet, no garage, .17 acres

$78,500

(Special remark from agent, "Needs some work in basement, but loads of potential")

Option #4

1958 Clearfield cottage

3 BD, 2 BA, 1486 SF, 1 car detached garage, .31 acr.

(Ooooh, I like the acreage!)

$94,900

(Special remarks from Agent, "Home being sold "as is" condition. Presently a rental property.")

Option #5

1955 Layton Ranch

3 BD, 1 BA, 1046 SF, 1 car attached garage, .25 acr.

$94,900

(Remarks, "Bank of America prequal MUST be submitted with all offers.")

Need I say more? "Bank of America" is synonymous with "Run the other way" these days - we'll probably have our current home paid off by the time we hear back from B of A!

So, What do y'all think?!? Here's where your help comes in. Please cast your vote. What's your favorite option for us?

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Or maybe we should potty train the baby and free up $50+ a month to go towards Mortgage payments.

I can't quite decide which would be more painful!