Handcuffs please...

[IOBA]

Yes, please pull out the restraints and help me!  I am in negotiations on the house.   There is more than enough in the bank for a down payment and closing costs.   I have a bill pymt that is about $318?  That I could make go away like that!  

*snapping my fingers, typing a few keystrokes*  

I haven't because there is no interest on this bill, so I have been paying on it every two weeks, and I was saving for a house.   It will be paid off in nine months or sooner.  That is why I don't know exactly what the minimum requirement is.   It's probably less, but I am allergic to debt so I pay more.

Having it paid off will not likely increase the credit score enough to jump to the next credit tier.   

The front end and back end of DTI are fine without it - under 30%.

The only benefit to paying it off immediately is peace of mind.  It should help the credit score a tiny bit and it will help the DTI some, but neither are an issue right now.

Please give me some darn good reasons NOT to pay off this bill!!!   The struggle is incredible.   Avoiding chocolate is easier than this!    

And seriously, the wait times are so dang tough....    and I get through every weekend and every email and every phone call without the chocolate.  Maybe I just need to go shopping!  

So remind me again, why should I NOT pay off the no interest bill right now??

[Booner72]

The only thing I can think of is if this is your only revolving account that shows a balance you could get a ding for having all report zero balances.

So what else is going on w/ the house buying?

[IOBA]

Argh.  Good point.  Then all cards would report zero.   Well maybe not one of them.  I charge like once a month on it, gas.   And it's set for auto pay just after the statement cuts.

I am just caught in no man's land with the house deal.   Can't spend the money in savings to pay off the bill.   Can't go put my loose change, left over money back in the bank weekly cuz I need to be accountable for every transaction and they might question that.

My inspectors, appraisers, and lender are all on stand by.  I have no idea how much we are going to settle on for a price or even if we will agree on a price.  

And this serious allergy to debt is giving me hives!   lol.  Ok, that might be an exaggeration.   But I am wanting to pay off the bill only cuz it will be replaced with a bigger bill - the mortgage.

My update - stranded in no man's land with no chocolate.     Enduring the waiting game.  You know how it is.  

[Booner72]

Hang in there.  It'll end sooner or later.   And if it falls through, then this was not the house meant for you.  (Not to bring negative vibes - just something to put in the back of your mind.....hard to believe when you're in the thick of it, but easy to see when you're out).   Stay busy and try to do something other than ruminate.  Easier said than done.

[IOBA]

I am actually ok if I don't get the house.   I am not emotionally attached to it.  I love the location, I love the sunshine (it's got part of the lot that is sunny and I can have a garden that won't be pilfered by the neighbors who claim they speak no English!).  I have walked by this house for years.   Always "wanted" it.   It's a project house, but it would be great to get in and do some work on it.

The house keeps calling to me.   I have always known when I see a house if it's meant to be mine or not.   And I have always loved the houses I have moved into.   This one has the same vibes.   Still in negotiations.   There are some serious defects the person sitting in another state was not told about.   We just have to agree on a price.  I am not asking them to fix anything - just asking for the price to be adjusted so that I can fix these things.   The fixes are major things, not cosmetic.

The waiting continues.  I did compromise with myself.  I made a larger than budgeted payment on that bill.  I don't expect it to make much of a difference on the FICO score of the DTI.

If this house doesn't work out, then I will just continue to be extremely frugal and save more money.   I think it would be totally awesome to pay "cash" for a house!

[Anonymous]

I'm in your boat, LO instructed me to keep my money in savings - Cash is King. Continue to pay off debt as I normally do. Even if I paid off most my debt it would only be a 2% difference in my DTI.

[IOBA]

I think I need stronger restraints!

I paid an extra $550 on it that didn't need to be paid.  So maybe the next payment will be skipped?  Not needed?   

I am so used to paying on the bill every two weeks (payday) that I really struggled this time with it.  I have more than enough cash in the bank to pay closing costs/down payments/reserves.   And I did put a little into savings (not much,but some, so that balance is still growing).