So since my DH has received an increase in base pay and a larger than anticipated bonus, we get to make an extra payment of $500. This means that we will be paying $3000 on credit cards this month! :O
That is almost 1.5 times my income. Oh and I am moving the payoff date from September to August since we only need a half payment in August to finish off the credit cards. I swear I already tried to do this once, must have gotten distracted. Now a really neat trick is if we could finish everything in July! But don't count on it, lol.
We have also decided that no matter what, we are not resigning another lease at our current place. We could live in a shack and still be better off than our current place. So we will try to find a house before February. Our price range is up to $75k (because we are cheap not because we couldn't officially afford more and we want to be able to put 10% down, have closing costs and still have a couple thousand in the bank for repairs, currently shooting for 18k+.)
Obviously this won't be a perfect house from the get go but if we don't have to boil water to have hot water for a couple of months, if we don't have a broken thermostat for 3 months and if we don't have the smell of paint thinner permeating the air from the apartment next door being remodeled it will be better than where we currently are.
Extra Payment
March 25th, 2008 at 07:20 pm
March 25th, 2008 at 11:12 pm 1206486761
March 26th, 2008 at 02:34 pm 1206542067
March 26th, 2008 at 02:46 pm 1206542807
Oh and that $75k is for homes that a couple of years ago went for 125-150k so I sometimes wonder how much mortgage fraud occurred as well (we did have those type of issues here).