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Archive for February, 2016

Popping In With An Update

February 20th, 2016 at 11:50 am

One of these days I'll be back more regularly.
I have certainly missed you all and want to catch up on everyone's blogs.

The kids and I are doing well. Naturally emotional ups and downs. Financially I have been in a very solid and comfortable position. I'm beyond thankful for that since dealing with everything would be 100 times more difficult if I couldn't make ends meet.

Certainly the children and I would have been better off if there had been some life insurance, but that was not in place. Giving us a financial foothold is the children's monthly death benefits from Social Security.

No benefits for me because I make too much. However, if I ever made less due to reduced hours or job loss I would be able to receive money then.

In other financial news I decided to refinance my house. Refinancing to a conventional loan saves me $114/mo in PMI (FHA loan). I also consolidated the HELOC and my cc debt which saves me several hundred a month in minimum payments.

I was initially resisting the idea of paying off my cc's with my house. But, reducing my amount of outflow every month was the deciding factor.
My new mortgage payment will be $280 more per month than it is currently. I have been paying $315/mo just for the HELOC payment and several hundred more to credit card payoff.

The amount that we receive from SS each month is enough to cover the mortgage and utilities.

My future is a huge question mark.
Who knows how long I'll be living in my current home.
Being able to save a large amount of cash to an EF seems to be the best plan for me right now.

As part of the refi I had to have an appraisal. Housing is ON FIRE here.. It's crazy.
Anyhow, house appraised for $455k!
We purchased it for $265k seven years ago.
It boggles my mind.

Next up working on my taxes...

Y'all take care. I'm looking forward to catching up more soon.