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Archive for July, 2023

Took a Loan for 20K

July 30th, 2023 at 07:10 pm

So one thing I have been thinking of A LOT lately is how much I have in available funds.  I currently have 18k in savings and 41.6k available in my Roth.  I anticipate netting 22k or so from selling the truck, which will be a quick sale.  Also I hope at least 20k from selling the 5th wheel, but that may take longer to accomplish. More on that below.  And then of course as soon as I am separated from my employer, I will have access to the 25k in my 457 plan, although I hope to not touch that this year.  So that is 18k +41.6k + 22k = 81.6k which I can count on having available immediately, plus another 45k which will be on the horizon.  I'm not going to lie, I wish that I had more.  I am trying to buy a house plus live on this money until I find a new job.

I have been mulling over the idea of taking a personal loan someplace, to cushion my bank account.  Of course, this is something which will cost me money.  I'm not really certain I want another loan, but once I am no longer employed it will no longer be an option.  If it turns out that I need a loan, it will be too late. Of course, I can always use my credit cards to pay for necessities.  But this is not an appealing idea if I lack the funds to pay for my charges; a loan would likely be less expensive.  So I have looked online a bit and the best deal I could find was with Citibank.  On Friday, I accepted their loan; my check is in the mail.  The terms are no origination fees, 11.99% interest, a 5 year repayment schedule, no prepayment penalty.  When I receive the funds, I will throw them in savings and that will reduce the cost.  Once I have a job, paying off this loan will be a high priority.  

I have my eye on 2 houses listed for sale, both at 59k.  The one which I like the most has recently been completely re-done inside.  It is small, only 800 sq ft, but it is on 1/3 of an acre, unfenced.  The other is a bit larger at 892 sq ft, but sits very close to the neighbors on both sides. It has a covered front porch which I just love and a fully fenced backyard. If they are still listed when I go to Illinois in September, I will see them.  And I will keep updating my list between now and then.

I have some friends in my old area who camp a lot.  The husband is very knowledgable about vehicles in general, including travel trailers and 5th wheels.  If necessary, he will keep my 5th wheel and handle the sale, for a commission.  I offered the commission, he did not ask.  It will be a chore, so I wouldn't feel right about not compensating him for his time and trouble.  I trust these friends completely and have no fear that he would cheat me in some way.  Of course, I would prefer to sell the 5th wheel myself and quickly, but in case it does not work out that way, I do not want the 5th wheel holding me up from heading to Illinois.

Cancelled House Contract

July 26th, 2023 at 05:19 pm

The home inspection showed a lot of issues.  I expected that there would be some, so it was not surprising to see the long list.  Some of them were no big deal, but a couple of them were deal-breakers.  For example, there is an old water leak in the bathroom.  Water is going into the subfloor and has been for some time, but no repairs have been made. Water is going into the wall around one of the AC units because there is no barrier, even though there should be.  There is standing water in the crawlspace under the house. There are water stains on the foundation.  There are also some foundation issues.  

I am still moving, just not into that particular house.   It's disappointing, but that's how it goes sometimes.

Submitted Resignation

July 18th, 2023 at 03:32 am

I submitted my resignation today.  My last day of employment will be Friday, Sept 1.

So Much To Do - Topsy Turvy

July 16th, 2023 at 02:08 pm

Well, I certainly have a long "to do" list.   And my finances are about to become topsy-turvy with no income but plenty of outgo.  I will need to think about budgeting my money in a very different way. 

So far, I have paid a $500 earnest money deposit, plus a processing fee of $12.  I had to pay via DepositLink and there was no way to avoid the fee.  That came directly from my checking account.  I also paid $460 to the home inspection company along with an $18.17 processing fee because I used my credit card.  

Around here, we have already begun parting with possessions.  There is still plenty more to do on that front.  The 5th wheel needs a few repairs which we have been putting off because repair work is a bit problematic.  However, it goes in to the shop on August 9th.  The repairs are expected to take a few weeks.  We will have to move into the little travel trailer for that time.  It needs a new door first.  And, the bears completely ruined the fridge.  The door will not latch closed and all of the interior shelves and brackets were ripped out.  So we will have a place to sleep and a roof over our heads, but not much else.  It will just be for a short time, though.

This past Friday I took a half day vacation and went down to the valley.   A girlfriend who is 42 and expecting her first baby was having a baby shower.  It was wonderful to see her and her mother and sister, niece and nephew.  There were other guests but I did not know a one of them!  Still, I had a very nice time.  They were all lovely.  It was a great opportunity to see her in person and let her know that I am moving even further away.   After the shower, I went to my mom's house and spent the night.  We played cards in the morning and I left around noon to return home.

Under Contract

July 15th, 2023 at 01:07 pm

My offer has been accepted. This is real and moving fast. 😀

Made A BIG Decision

July 13th, 2023 at 06:06 pm

I have made a really huge decision.  I can't believe that I am doing this, but I am. Smile

My boss is on vacation this week, so next week I will tell her that my last day will be Friday, Sept. 1.  I am wrapping up my life here and moving to Carbondale.

There is still much up in the air, but each kerfuffle will be dealt with as it arises.  Just like life, right?

I will have my health insurance through the end of September.  I can buy a silver plan on Covered California for $165.29 per month, which I will do until I am settled in Illinois.

I will sell the 5th wheel, SB and I will sell the truck, SB will sell his Toyota Corolla.  We will move in my Hyundai Tucson.

I had previously shared a link to a little white house with orangey-brown trim.  Well, it is back on the market.  My son has a scheduled showing this coming Tuesday and will video it for me.  Google Earth shows it is in a nieghborhood of houses and big trees, a few parks, no businesses.  And it is only a few blocks from the university campus.  It is 1.3 miles from my son's house, 5.8 miles from my daughter's house.  I am fairly certain I am going to buy it.

I do not qualify for a mortgage.  Purchasing this home will take all of my Roth IRA contributions plus most of my current savings.  This is not ideal, but it is the situation. I will of course have the proceeds from selling the 5th wheel and truck, and once separated I can access the 24k in my 457 plan, taxable but no penalty.  That is what I will have to live on until I am settled and have found a new job.

Oh, and I will still have my car loan.  I had wanted to pay it in full before moving, but paying 50K + closing costs for a house makes that not possible.  I won't have a mortgage payment though, so there is that.

I am still going to take my "vacation" to Illinois Sept 9-16.  The airfare I bought was nonrefundable.  We could cancel the airbnb, but I really don't want to.  Besides, this will be a good opportunity to get the house set up a bit.  

If purchasing this particular home does not work out, I am moving anyway.  All of my plans will stay the same except I will need to find a rental with cash in hand but no job. 

So, that is my news.

UPDATE:  I have submitted my offer of 50k cash contingent on inspections, requested the seller to pay for a 1 year home warranty, requested 21 days to do inspections, requested a closing date of 8/31.  The tenants have until 7/31 to vacate, so I cannot do any inspections until then.

Budget By Paycheck 7/7/23

July 11th, 2023 at 04:34 pm

begin - beginning checking account balance

pr - my net payroll check

SB - my contribution towards our joint living expenses

sf - automatic sinking funds transfers scheduled for 7/11/23

cash - cash for the next 2 weeks

Citi MC - the balance this time includes a tank of gas and some eating out

CarMax - a payment towards my car loan.  The new balance is $21,008.23

house DP - a contribution towards my house down payment.  The new balance is $2,002.92.

end - ending checking account balance

Maybe Going to Move Much Sooner Than Planned

July 6th, 2023 at 03:22 pm

My daughter sent me a link to a house.   It is SO cute.  It needs some work, but mostly cosmetic as far as I can tell.  It has good bones.  In addition to the pictures on, my daughter sent me pics from Google Earth, and my son went to the house and sent me a bunch of exterior pics.   It is a foreclosure, and it is listed at 24.9k.   It has been on for a month already.  I have spoken with the listing agent and late last night sent him a text that I would like to move forward with a home inspection.  

The house is not in the same town where my kids live, but it is not too far either.  It is 11 miles from my daughter's house and 16 miles from my son's.

So depending on what the home inspection shows, I may be moving MUCH sooner than planned.  I am both terrified and SO EXCITED.

So before this popped up, last week I booked myself airfare to see my kids in September.  My daughter and her husband have been in Mississippi for about 6 months now and will return home just before I come to visit.  It is a long story and it isn't mine, but it has to do with his mother and a house he inherited.  It has taken quite some time to get it all sorted, but things there will be wrapping up for them.  My son and his wife had offered that I could stay in their spare bedroom during my visit.  However, my daughter was planning on staying in a hotel the first few days they were back (so they can fumigate before moving back in) and suggested that we rent an airbnb.  We found a nice one at a good price and she and I split the cost.  I will still spend 2 or 3 nights at my son's house. 

UPDATE:  The house is under contract this morning, and not with me.