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pegkerrI've been totting up our financial paperwork in preparation for doing our taxes (we got them done early, yay) and because we had decided to refinance. I won't bore you with the details, but our purpose is to roll the main mortgage and the home equity line of credit we have outstanding into one loan and get some cash out. The home equity line of credit we've just been paying interest on, really, mostly, but it's a ten year loan coming due next year and we couldn't pay the whole thing off, and it's been hanging over our heads making me nervous like the Sword of Damocles. Now that will be eliminated. We are using the cash out to get the money to paint the house (the city insists) and to have something to tide us over until some job for Rob finally materializes for us in this jobless recovery.
HUGE relief: we got approved for the loan, although we haven't yet locked the rate (wish I had yesterday. The monthly mortgage payment floated up $50 dollars a month today. I HOPE it goes back down). Well, I got approved, that is--this loan is against my credit only. Rob's is pretty much shot. We will be taking out a thirty year loan, which sounds crazy, I know, but we plan to prepay principal, hopefully so that we can get it finished in fifteen to twenty years, so it'll be finished up right when I'm ready to retire--barring any future financial disaster, that is. I hate stripping some of our equity, but there's no doubt it'll get us through this tough period.
So. We're going to get a chunk of cash that will keep us going for quite a while longer. Between that and the tax refund, I'm going to be able to breathe a little easier than I've been able to do for a long, long time.
And I want to thank you for that: this community. The money that you raised and gave us a year ago has tided us over to this point, and now we're going to be able to keep going. That is amazing. That is just fantastic. Rob will have been out of work, as of June 1, for two years. And yeah, things have been really tight, and I haven't been above bitching about it, but we still haven't paid a single bill late. How many people can say that?
Not very many. I truly feel blessed.
Thank you all.
MyCharityWater Campaign Report:
$5,000 CAMPAIGN GOAL
$766 RAISED SO FAR
38 people served
22 donations
68 days left (Hmm. No donations for four days. What can I do to get things moving again?)
What I did today to make the world a better place: Signed Human Rights Campaign petition to send to my Congressman, asking him to support ENDA.
HUGE relief: we got approved for the loan, although we haven't yet locked the rate (wish I had yesterday. The monthly mortgage payment floated up $50 dollars a month today. I HOPE it goes back down). Well, I got approved, that is--this loan is against my credit only. Rob's is pretty much shot. We will be taking out a thirty year loan, which sounds crazy, I know, but we plan to prepay principal, hopefully so that we can get it finished in fifteen to twenty years, so it'll be finished up right when I'm ready to retire--barring any future financial disaster, that is. I hate stripping some of our equity, but there's no doubt it'll get us through this tough period.
So. We're going to get a chunk of cash that will keep us going for quite a while longer. Between that and the tax refund, I'm going to be able to breathe a little easier than I've been able to do for a long, long time.
And I want to thank you for that: this community. The money that you raised and gave us a year ago has tided us over to this point, and now we're going to be able to keep going. That is amazing. That is just fantastic. Rob will have been out of work, as of June 1, for two years. And yeah, things have been really tight, and I haven't been above bitching about it, but we still haven't paid a single bill late. How many people can say that?
Not very many. I truly feel blessed.
Thank you all.
MyCharityWater Campaign Report:
$5,000 CAMPAIGN GOAL
$766 RAISED SO FAR
38 people served
22 donations
68 days left (Hmm. No donations for four days. What can I do to get things moving again?)
What I did today to make the world a better place: Signed Human Rights Campaign petition to send to my Congressman, asking him to support ENDA.