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Archive for September, 2014

Reverse Mortgage Thoughts

September 20th, 2014 at 04:25 pm

Lately I have been mulling over the idea of buying my final home with a reverse mortgage. Or, if I buy before age 62, buy it traditionally and plan to owe about half of the value at age 62, and take the RM at that point.

I am thinking this way because I want to retire with no mortgage payments. The best way to accomplish this is to own a home free and clear. At this point, that is looking unlikely, unless I opt for a 1 bedroom apartment style condo. Such a home is not without its benefits, but of course has some drawbacks too. If I opt instead for a small single family home with a garage, it is looking as though I will not be able to own it free and clear by age 62.

So, I am keeping this idea on the back burner.

Cruise is Booked; Car Fund Update

September 19th, 2014 at 04:00 pm

Well, we booked our cruise yesterday. We don't leave for nearly 4 months. That's OK, because the anticipation is part of the fun. Smile

Recent car fund activity includes my budgeted transfer for September ($170), payment from part-time job for August ($200), Capital One Quicksilver credit card rewards ($14.56), and interest ($.44). Car Fund's new blance is $1,124.87.

Mortgage Chips To Date; MrsM180's Bday

September 4th, 2014 at 03:18 pm

My mortgage payment has posted, and I have paid an additional $17.90 to round the balance down to $172,000.00.

Chips to date: $1,477.82

Interest savings this month: $5.13

Interest savings to date: $36.16

Eventually, the interest savings on the chips I have already made will compound to $3,248.99, provided I own this house until the mortgage is paid in full.

Today is MrsM180's birthday! She and her dh spent last night at their new place, but will be by this evening for birthday cake.

Net Worth 8-31-14

September 3rd, 2014 at 04:09 pm

Cash is up. Smile
Debt is down. Smile
Investments are up. Smile
Home value estimate is down. Frown

So Many Changes

September 2nd, 2014 at 07:14 pm

One day towards the end of last week, MrsM180 announced she and hubby had found a new living arrangement. This was something of a surprise, as I did not know that they had been looking. They are excited and optimistic. I am glad for them, but gosh, I am going to miss them. So will J and our canine companions.

The very next day, BF announced his last night at his house is this coming Wednesday. Beginning Thursday, he will be living full-time with me.

This is a lot of change in a short amount of time for an old girl like me. Wish me luck!

Update: His plans have changed already! The contractor wants BF to stay through the weekend to assist with a few things.