GI Jane Finances

October 18, 2008

Finally an offer!

Filed under: Uncategorized — gijanefinances @ 2:03 pm

I received my first ever offer on the house.  I am so happy.  The buyer even had an approval letter from her bank for a mortgage.  I will be taking a big wash to unload this albatross.  The offer price was $10k under what I paid for it and $8k less than the note.  I saved enough for the closing, but there is a shortfall on the house.  Wells had the nerve to want to short sale the note and ruin my credit.  Thanks, but no thanks.  I called AMEX and did a balance transfer for $11k at 3.99% rate for the life of the balance.  The money I do not need will be applied to the card.  Boy, I am paying my tuition for the school of hard knocks or stupid tax.  Neva again.  I still have now $2600 left in student loans at 6.5%.  Not sure if I will snowball and pay the lowest balance first.  It makes more sense mathematically.  The closing is mid-November.

Thank heavens!

GI Jane

October 16, 2008

Uncertain times

Filed under: Fits and starts — gijanefinances @ 10:27 am

Today, the Dow fell 733 points and I am doing my best to not look at the IRA/TSP.  I am still contributing to my Roth.  This economy is really not for the weak of heart.  I feel a little better about getting a cash position.  But, still annoyed that I am in the midst of selling a house during one of the worst markets in history.  If the property manager was not so incompetent, I would be renting it out now.  sigh.

I will never be this leveraged again.  My $2,774 student loans would have been wiped out by now.  Ironically, I thought the house that I purchased in 04 would appreciate enough to clear my student loans.  Now, it could not be any further away from the truth.  The investigator for my clearance raised his eyebrows when I told him about the two houses.  I reassured him that the main incentive for keeping current is because of my clearance/credit score.  Thankfully, my first house has been a blessing.  I even forget at times that I own it. 

Nevertheless, I look forward to owning one house again.

GI Jane

October 7, 2008

Plan B

Filed under: Cash crunch — gijanefinances @ 9:45 pm

Hello world,

Let’s start with the good news.  Today I tried pilates for the very first time.  It was really nice.  I was surprised how much you can sweat in stretching your whole body.  I have not stepped on the scale yet, but feel progress in my thighs.  Wahoo!

The bad news.  I decided to suspend my $1088 TSP contribution for several months.  I am not happy with my cash position.  I just knocked down the price on my house another $5000.  That is $5,000 short of the note.  It is time to face reality that I cannot afford money to evaporate, even though the investments are long-term. I need to raise $7,000 more just to unload when a buyer finally manifest him(her)self.  If I didn’t have this house to sell, I woud continue to buy mutual funds “on-sale.”  I am already pretty diversified.  The roth will still continue on course. 

I will just let the money work the twists and turns of the market…and not look at them until next year.

GI Jane

October 3, 2008

Managing Expectations

Filed under: Uncategorized — gijanefinances @ 5:29 am

Wahoo!  I received my absentee ballot in the mail yesterday.  I cannot wait to vote for Obama.  I am also looking forward to the VP debate that will be airing tonight at 2100 hrs.

On the housing front, the recent open house had a dismal showing.  Only two buyers and two neighbors showed up.  Both buyers said it was too small.  It looks like I will be lowering my asking price to $145,900.  A shortfall of nearly $7k from when it was purchased.  Selling a house is a b!tch.

GI Jane

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