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Archive for February, 2010

Refinance finished and preparing a new budget

February 24th, 2010 at 07:15 am

We closed on our refinance so I have updated the totals to reflect the new amount. I still haven't decided on my new networth goals since I blew past the break even point thanks to the equity in the house. Especially since DH just told me that his work situation is restructuring come this April so I am preparing for the potential layoff.

So credit card payments are only going to be 1k instead of every last extra dime we have. Its still progress but if he stays unemployed the whole time it will take us an additional 8 months to pay the credit cards off. At least we can still pay them down.

Waiting

February 11th, 2010 at 09:47 am

We finally know what repairs are needed for the refinance final approval (they don't like a light fixture in the basement due to exposed wires, easy fix). We will do that this weekend and be done with it.

I am waiting for the refinance to be finalized before I transfer one of my credit card balances so that it doesn't mess with our ratios (they are ignoring my husband's income for the refinance so that makes debt ratios much tighter). I basically have two balance transfers to do before all the debt will be paid off but since I am doing a slow but steady pace, I suspect we might finish off the credit cards sooner than expected.

DH is still a full time temp but has been ordered by a current and former manager to apply for a certain full time position so we shall see how that goes.

Overall, its pretty peaceful here. Our savings are building, our debt is going down and I am starting to feel like we are catching up to where I would like us to be.