Living the (insert adjective here) life.
Posted by Laura on March 1, 2008
Well, pooh. Calvin’s on call this weekend and he just got summoned. I HATE when that happens. He hates it more, I’m sure. It makes me feel bad that he has to interrupt his weekend for work, so I usually volunteer to go with him if it’s the sort of job that would allow for that. Today, it’s not. So instead I will get some housework done, and work out, and figure out what’s for dinner. And hope that it doesn’t take Calvin too long to wrap things up. At least he’s not going to Flagstaff. Though that was kind of fun, in its own way. I would definitely be going with him if that’s where he was called to.
The economy can bite me. A month or so ago we started on an attempt to refinance our mortgage and roll some debt into a New! Lower! Monthly! Payment! Back in the beginning of ‘06 our house was appraised at $315k. Guess what the appraisal came back as right now? $236k. Yes, you read that right. We have lost seventy-nine thousand dollars in the market value of our home. Which is completely ridiculous. Fortunately, we are still nowhere near being upside-down on our current loan. A lot of people out there are in that unenviable position. But suffice to say, we won’t be refinancing at this present time, since we wanted more than what THEY consider to be 80% loan-to-value. I think it’s all a crock of hooey.
Hmm… I wonder if there is some sort of tax benefit to losing that much value on our home? I’ll have to ask our tax guy.
A year ago we came up with a five year plan to pay off our debt. Fortunately we are still on track for that, one year in and four to go. So refinancing wasn’t necessary for our success, it just would have accelerated it. I just hope it doesn’t take too long for things to get positive again. I’ve read estimates ranging from six months to five years before the economy turns around, so nobody knows what the hell is going on or what is going to happen. Well, except for Glenn Beck, and his take on things just scares me. Because he’s probably right, and we’re all fucked.
Channelling Lewis Black, here.
