@Anonymous wrote:Ok - when it rains it pours...but at least I"m still in the game.
Hubby has been out of work projects for the last 2 months (he is self employed)....we have not paid things down, but used more credit to get by....ARGH.
However, next summer I will have a new job with almost double the salary - so if I can just squeak by until then I figure I can pay everything off in a matter of months. Also - DH usually is way busier in the summer months....so we should be ok.
Still holding out for the landlord....they mentioned just selling us the house we are in this winter..I'd like that if we can swing it, but I know that we need to get the UTIL paid off/down so that the debt ratio isn't so out of whack. I should get a decent bonus in December...but probably need it for the down payment rather than using it to pay things off. I do have ONE option to borrow funds from someone to pay things down, but I don't really want to use it. I'm hoping we can make it.
I can now get 3 fico scores for free off my cards....I'm holding steady around 660-675 on all three. Not great -but not bad....I got a few CLIs to help that % ratio - but hate to apply for much new to get a real jump on my total credit line balance/ratio thing and I keep paying down on the car....less than a year left on it and I'm tempted to take the bonus $$ and pay it off. I figure that $250 a month would be better going to CC debt to get some of those back under 50% owed on. At least I have credit and we are getting by...now to get it under control!
I love how you're hanging in there and staying positive. Sometimes, there are bumps along the road, but as long as you stay on the road, you should get to your destination.
Thanks for sharing the ups and downs. Inspiring. 
Well all - I pulled the trigger!
Our landlord offered to sell us the house. SOOOOOO I contacted a loan officer - my landlord (who is a realtor) said Francisco is a miracle worker and if anyone can help us through the mortgage process he can!
Well no automatic denial yet. I was honest about everythng going on and he said he will figure something out. Things are just kind of happening out of order for us. I start a new governemnt job in July - which will practically double my salary.....but in the meantime we have to work with what we have.
I have a large bonus check that I can use to pay off debt in December. But I want Francisco to tell me which ones to pay. I would assume the car because it is a relatively low balance for the amount of monthly payment. (Pay off about $1500 to save $250 a month) Then hit the little credit cards - because those $25 min payments add up - another $800 or so saves about $100 a month. I can get the payments into the debt/income ratio...which will also raise my scores.....All of this is without my husbands income (self employed and has debt) so we are trying to leave him off for now. I can always Quit Claim him 1/2 the house later.
The only thing we haven't touched on his how my student loans will play into this mess. I dont want off IBR because I am 5 years in and on paper they will forgive the unpaid balance. Also when I start the government job I can flip it into the public service and I THINK they will forgive the balance in 5 more years (10 total.)
I'm hoping we can make this work sooner rather than later.....Landlord would like to close the end of January......My pay gets weird in the interim. I have been promised by my boss that he will make sure I am paid from Jan. 1 (when my job with the law partnership ends...because the partnership does).....but I will continue to work with him until we get to go to the courthouse when he becomes a federal judge. But I may be contract or something at my current salary. It gets weird...so I'm hoping for the soonest playout I can get. If I ask my boss, he might write the bonus early....he knows about the house thing...and even said we should do it sooner rather than later - so he might help me out that way.
Cross your fingers for us! This was the goal all along! Could I really be on the final stretch of the Road to Mortgage?
@Anonymous wrote:Well - things aren't looking to great. Apparently my student loans are what are messing with my debt/income ratio. I'm over by like $20 a month!
Now I"m trying to scramble to find some cash so I have a little more down payment or something. So Close! ARGH
Ideas anyone?
Hey jlynn.
Sorry about the temporary setback what is the amount that you need to reduce your student loans by? Or what percentage are they needing for a down payment? Seems that the student loans is the most workable for you. I know you'll get there. Look how far you've come in a year.
Keep us posted. 