Tuesday, March 27, 2012

The end of March already...

Oh my! Where has the first quarter of 2012 gone?! I feel like I'm a hamster on a wheel, spinning spinning spinning, but not really getting anywhere. While I've been busy putting money aside for my big April expenses, I don't feel like I'm making any progress on my credit card debt. I've had to slow down the payments to set the money aside for next month, but once I make those payments, I will have depleted my savings and will be back to working on the credit card debt and building up the savings again. Feels like it's a cycle that never really ends.

I've sold a number of things on eBay lately and have netted over $800, so that is great and it's been nice to declutter. I'm also getting ready to take several nice dresses, shoes and purses to the consignment shop in town and hoping that will help bring in some extra cash.

I'm also in the process of refinancing my condo. I've been in it 5 years and the 5/1 ARM is up for adjustment next month. Luckily for me, I think, I qualify for the HARP program and it looks like I should be able to lock in a 30 year rate of 4.125%. That would be great as I'm currently paying 6.125%. That 2% reduction,while keeping my payments the same will do a lot to reduce my principal much quicker. Is anyone else looking in to this?

The BF is still looking for a place to live and has paid me back 1/2 of the $1500.00 he borrowed from me and he's working on finding a place, but it's taking awhile as most places are expensive in the Seattle area. I'm hoping he'll find something shortly as I think it's going to be crucial to our relationship that we each have our own space. My 750' condo is much too small for the 2 of us and I really like living on my own. So, good thoughts please that he'll find something soon! :)

Looking forward to spring and much better weather, I think it will put me in a sunnier mood!

Current debt: $241,094.10

1 comment:

Petunia 100 said...

I looked into it, but the terms I was offered were simply not attractive. You don't get market rate if you are upside down. When I applied, market rate was 3.875% and they (Wells Fargo)offered me 4.625%. I'm at 5.25%, so that wasn't enough motivation to pay the fees and start over on a new 30 year loan.

Since you're at 6.125%, you can likely get an offer worth taking. Good luck!