A mortgage refinance analyst from New York says he’s “moving” to Texas in an attempt to buy an apartment that he says he can’t afford in a pricey market.
“I want to get out of my situation and get into a place where I can afford a place, and if I can, I want to be able to afford a house,” said Daniel Stokes, who lives in the Lower East Side.
Stokes said he’d love to get into an apartment in Houston but has no room for it.
The 38-year-old also owns an office in the Midtown Manhattan neighborhood.
“I have the money in the bank, but I don’t have the resources,” Stokes said.
Stoke’s apartment in Manhattan is one of two he can rent in Houston.
He also owns a car and has a $1,000 credit card balance that he’s used to pay for rent.
Stokes says he plans to work two jobs to pay his bills, and he’s not sure what he’ll do if he can afford to move in next month.
It’s not the first time Stokes has made headlines for wanting to buy a house in Houston, which has seen more than 10,000 foreclosures since the financial crisis.
In November, Stokes told The Associated Press he’d buy a home in Houston in a bid to escape his current financial predicament.
A year earlier, he told the AP that he’d rent a home near his office in New York City for $1.25 million.
For now, he says the $1 million mortgage is enough for him to rent in a modest area.
However, Stokers says he won’t be able afford the home and will need to work for a living in order to make ends meet.
Even if he buys a house, he said, he won`t be able start saving money until his next financial setback.
Last year, Stakes and his wife had a rough time adjusting to their new reality.
They lost their job and had to take out a loan to pay the mortgage.
But they`re still struggling to make their monthly payments, and their monthly rent is now nearly $1 an hour.
With the housing market in such bad shape, Sticts said, the couple is trying to stay afloat through the money they make working at their job.
The Stokes family has been on the verge of losing their home for more than two years.
While the house in New Jersey they bought is worth $1 billion, it has become more difficult to find affordable housing, and Stokes and his family are now struggling to pay rent.
Stakes said he was trying to buy the house because he was ready to retire and was looking to retire on a larger scale.
At one point, he planned to buy and renovate a property with a lake in it.
Stores was in his 30s when he got a job at the OfficeMax store.
He moved into the store in 2000.
When he took the job, he was already in his late 30s.
According to his former boss, Stores was able to save enough money for a home.
Now, Stotes says he`s ready to buy another house in order for him and his fiance to have a place to live together.
After his retirement, he hopes to get back into the housing game, but he`ll need to take on another mortgage to pay off his mortgage.
He said he plans on refinancing the $3,400 mortgage with an offer that’s closer to his goal.
If he gets a good offer, Stikes said he would consider refinancing his mortgage, but will have to decide if it`s worth it for him.