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Popping In With An Update

February 20th, 2016 at 07:50 pm

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.

13 Responses to “Popping In With An Update”

  1. Carol Says:

    Thank you for checking in. Glad things are as well as can

    be expected. Rooting for you and your kids.

  2. FrugalTexan75 Says:

    I'm so glad that things are going well overall for you and the kids. That is a lot of appreciation - wow!

    The loan Mr FT and I will be getting is an FHA loan through NIFA.

  3. creditcardfree Says:

    Glad to hear from you. It sounds like you made some great decisions!

  4. CB in the City Says:

    Saving money to an EF is always a good plan. Your rise in home value is amazing!

  5. ceejay74 Says:

    Thanks for checking in! Sounds like you are in a very good position financially, which is so good considering all the emotional turmoil of the past few months.

  6. MonkeyMama Says:

    It is good to hear from you!

    Amazing that you can keep your house and are doing well. Not the case for many people in your shoes. So good to hear.

  7. Ima saver Says:

    Glad you are back. We have missed you.

  8. rob62521 Says:

    Glad you checked in. Keep up the good work you are doing to help yourself.

  9. Thrifty Ray Says:

    It is nice to hear from you. You have been on my mind and I hope you and your children have a good support system to help you get through this difficult time. XO

  10. LivingAlmostLarge Says:

    Good to hear from you! Glad that you all are doing well.

  11. Thrifty Ray Says:

    Just letting you know I am thinking about you. I hope you are doing ok. XO

  12. Thrifty Ray Says:

    Checking back in to let you know I am thinking about you and hope you and the kids are doing ok. XO

  13. Petunia 100 Says:

    Hi. Just dropping by to say I hope life is going along great for you and your kiddos. Smile

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