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anyone NOT feeling a fiscal crunch?
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[quote:Anonymous Coward 130833:MV8yNzc5OTNfNDg2NDQzMF83MTVGRjNGQQ==] [quote:Green Man] You sound like a good wife, 130833. You wouldn't happen to have some sort of suicide mortage on that house, would you? (ARM 80/20 HELOC neg-am no-doc interest-only etc.) If so, figure on your mortgage going up. [/quote] Thanks Green Man; I try to be a good wife, mother, child and friend. We have a Contract for Deed, but sadly, our contract is up Sept 28th of this year, and when we tried to refinance (tried through 8 different companies), we were denied because although my husband makes the money, he has no credit score, not even a 0, but marked as X. I am the one with the credit score (have 1 small credit card, with a line of $500), but no income. I am a full time homemaker and homeschool teacher. I've tried to get employment that would allow me to continue with what I do at home, and work to supplement some income into the home, but anything available for my schedule wouldnt even pay for the gas back and forth, much less just the maintanance on the vehicle. So, our contract holder says we need to "renegotiate", which I have NO clue what he means by that. I am suspecting he is going to up the purchase price of the home; we have stuck $11K into remodeling and bringing it all up to date (including wiring, appliances, etc). We bought the home for $75K, owe $70K on it, and it is worth (according to appraised value) $120K. I cannot afford to pay more for it than already agreed upon, so I guess I will end up just walking away, and not looking back. Hubby refuses to sell it now. [quote:Green Man] As an exercise, add up your direct energy bills: - electricity - gasoline/diesel - natural gas/propane/heating oil for a year. What does it come to? [/quote] I've figured our utilities (heat/electric) which comes to in the summer months just roughly above $75/month. However in winter our heat bill averages $277/month. Our first winter here, our heat was set on 70 degrees, and we found our avg. Last winter, we kept our heat at 68 degrees, and our avg remained the same. So 2 degrees cooler meant we kept even with our avg of the previous year. I am suspecting to keep our avg this year, we are going to have to turn our temp to about 64-65 degrees. As for gas, my husband fills up the van 2 times a week, at $40 a shot. We fill the truck 1x every 10-15 days, at $70/shot. I use the truck when need be when hubby has the van at work, or other times when the van just doesnt cut it. It use to cost us about $200 for him to get back and forth to work per month, now we are at over $320/month. [quote:Green Man] Then figure what will happen if it triples over the next 3 years, as I expect it to. I fully expect things to get worse before they get better. Don't wait! Take action now to get your spending under control. [/quote] When I was looking into refinancing, I wanted to get enough cash out to turn to an alternative heating system which would take care of heat and hot water. Although a major purchase upfront, I think it would pay for itself in a very short time. But now that is impossible, and I know that we will not be able to continue here, and eventually WILL lose it all. I dont fret over it though, I am ready to walk away the way it is. [/quote]
Original Message
i look to the white dome building housing our "fearless" leader and scream
"IS THERE AN ECONOMIST IN THE HOUSE?????"
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