Thursday, January 3, 2013

08 Timber Money = car + house

A Utah state employee, supervising Nathan and Daniel's case who was responsible for collecting the money, told me if I would contest the judgment, it would be reversed. I never did that. I never wanted to see Ruth Ann again. She was boiling with toxicity --an obsessed person to truly be feared.

Meanwhile back in 1989, the price of timber had gone up and I was approached by some fellows to harvest trees off my land. I had forgotten about this asset. Grandma Teare had told me they needed to be harvested when she gave the land to me at around age 17. So I decided that was a good idea. I got two “tree” checks. The first for about $5,000 and the second for about $12,000, That is a guess. I then bought a $2,500 car and then a house in Palouse.

I knew I couldn't qualify for bank home financing. But this house in Palouse ($25,000 in 1990) I could “cash out” the owners with one $7,000 check. The city would carry me on the government loan balance at $185 per month without anything more than proof of employment. That worked. To me it was a “steal.” The house was two bedrooms. 800 square feet on the main floor (small) and 300 square feet of attic that could be converted into living space. I saw the potential immediately even though the place was dumpy. I immediately could see how the house could be opened up and made nice on the inside. It had been renovated in the 1970 or 80s on a special loan for the elderly at a low 4% interest rate. The city was the holder of these mortgages. They were anxious to get out from under it. So everything went pretty smooth. The renovations included new double pane windows, new steel doors, new furnace, and other energy saving improvements like insulation.

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