Taking my break at work.
The more thought I give to my current situation, the more evident it is becoming that I am not going to make it through this without taking out another 401k loan.
I'm not exactly chomping at the bit at such an idea, either. You have the option of how many years to pay it back, but - you get too close in the amount of time to pay it off and the payments are pretty high.
Second, it eats into my retirement and does "irrevocable" damage to the account.
But life is slapping me in the face now, not 25 years from now, and there isn't much I can do about it. The fact of the matter is, any kind of financial blow was enough to push me over the edge. Getting rid of Mary - while effecting a marvelous change in the atmosphere of my home, not to mention no more meth being smoked (changes include not having a person up all night long, making all kinds of noise, keeping people awake; not having a line of guys walking in during those all-night episodes; wasteful uses of electricity and water are gone, and a lot more minor things not needful to go into here - but also the fact that she is no longer here to start trouble with other tenants) in my house.
I'm frantically working on getting another renter in there yes - but every day that I don't have one eats into an already extremely-strained budget that couldn't deal with the newest loss of hours at work to begin with.
I am, however, still resolved that I am not going to cave into just anyone coming into my house. If they seem strange, whacko, have serious financial issues, evictions on their record - or I just don't feel right about it, I will not give them a room in my house. One guy said he either will or might come over today to look at it. Giving the wrong person a room just adds another drain to the already full plate.
I'm hopeful today that when I get home from work and check my personal email, there will be more inquiries after placing that ad last night.
The 401k loan is my only backup plan. My dad offered that if I get into a position where I am facing imminent foreclosure, to call him and he would see what he could do. I am definitely NOT wanting to get to that place - that is some serious - back-to-the-wall positioning that I hate to be in - but, really - I'm already there, just still have a cushion in terms of time before foreclosure notices start coming my way.
Anyway, back to work.
ben
5 comments:
If a good real estate agent can help grease the wheels and get your offer in front of a lender, you can get an answer more quickly, and potentially close more deals.
Good to have a Dad to help out. A fair amount of the money for Fin Towers South came from mine, if only indirectly.
Peter: Well, they plain want too much money for these mods. I have talked to quite a few of them, their rates are a bit high considering the fact that anyone needing a mod is in a bad financial situation to begin with.
Fin: Yes, it is a good backup - but something I don't really want to have to use if I don't absolutely have to.
ben
Good luck - we're facing a loss of income too, so I'm crossing fingers for all of us!
Hi Kate:
Indeed, wishing good fortune to everyone!
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