starting over again - Mothering Forums
Forum Jump: 
 1Likes
  • 1 Post By EmsMom
 
Thread Tools
#1 of 6 Old 06-08-2014, 04:36 AM - Thread Starter
 
EmsMom's Avatar
 
Join Date: Dec 2001
Posts: 1,390
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 8 Post(s)
starting over again

4 years or so I started over on my own after my separation from my husband. I scrimped and I saved; my kids and I did without a lot of things. I finished graduate school, I paid off the divorce attorney,I found a stable job, I saved a substantial amount as a down payment on a newer used car, I put substantial amounts in a Roth IRA and tucked away a bit of an emergency fund. But we are living in a very small, inadequately heated, and poorly maintained rental.

I met the criteria to get a direct loan from the USDA for low income families so I have the mortgage, I have an offer on a house in a lovely town and I am very excited to have decent, warm, and safe housing. However, because I had saved more than their allowed amounts, the "no down-payment" loan has become a "give us all of your savings loan". I used to study in the library to save electricity; we have no cable t.v.; we don't go on vacation; I cook all of our food; we haven't even been able to have people over because where exactly would we put them in a 450 sq foot house? I felt strongly about creating financial security first and we finally achieved it AND found an affordable way to get a decent home. But the home comes at the expense of the financial security (I can totally afford the home including budgeting for repairs, heating costs, etc.).

So now I need to start my emergency fund all over again. And I am only going to say this once because I really am so very grateful for the affordable mortgage, but it bites, it really does.

For what it is worth, the USDA Direct loan (there is another USDA program where they guarantee mortgage made through a local bank) is a totally amazing opportunity to get a house in a rural area for a low income family. The income limits are lower than with the guarantee loan and nobody seems to know anything about the loan so if you are interested:

http://www.rurdev.usda.gov/had-direc...ing_loans.html
EmsMom is online now  
#2 of 6 Old 06-08-2014, 12:51 PM
 
zebra15's Avatar
 
Join Date: Oct 2009
Location: State of Confusion
Posts: 4,692
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 7 Post(s)
hugs..... you can do it.

Mom to J and never-ending , 0/2014 items decluttered, 0/52 crafts crafts completed  crochetsmilie.gif homeschool.gif  reading.gif  modifiedartist.gif

Seeking zen in 2014.  Working on journaling and finding peace this year.  Spending my free time taking J to swimteam

zebra15 is online now  
#3 of 6 Old 06-09-2014, 05:32 AM - Thread Starter
 
EmsMom's Avatar
 
Join Date: Dec 2001
Posts: 1,390
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 8 Post(s)
Quote:
Originally Posted by zebra15 View Post
hugs..... you can do it.
Thanks. This morning I realized that I know I ave this. This is just going to require revisiting extreme fiscal discipline. For maybe a year. And in the end it will be worth it. Home inspection yesterday and things are looking good. Six weeks ago I was transferred to another department at work to take the lead on operations of a new business. We open doors today. Fingers crossed for a new career, a pay raise, a new home with heat and without mice, and ongoing and increasing opportunities. Always room to learn and grow...
artemis33 likes this.
EmsMom is online now  
#4 of 6 Old 06-13-2014, 08:34 PM
 
happyhats's Avatar
 
Join Date: Jun 2008
Posts: 1,192
Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 13 Post(s)
hugs. That does bite, and Im sorry. But it sounds like you have it under control and I admire that.
happyhats is online now  
#5 of 6 Old 06-18-2014, 07:02 PM
 
christianyvonne's Avatar
 
Join Date: Nov 2013
Posts: 28
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
Your intentions are great. I think the universe is meeting you with the energy you've put out. Go you!
christianyvonne is offline  
#6 of 6 Old 06-22-2014, 04:34 AM - Thread Starter
 
EmsMom's Avatar
 
Join Date: Dec 2001
Posts: 1,390
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 8 Post(s)
Quote:
Originally Posted by christianyvonne View Post
Your intentions are great. I think the universe is meeting you with the energy you've put out. Go you!
Thank you! I do feel as if so many things that have happened in the last four years have been the support of the universe. I am so looking forward to having a home in a lovely town and I plan to step up my volunteering (only spending about 5 or so hours a month now) and there are many opportunities where I am moving -- an active Habitat for Humanity, serious sustainability projects, community gardens, and I can stay active with the Alzheimer's association where I have been volunteering for a couple of years now. Right now I spend so much time driving I haven't had as much time as I would like to give back. I spent many years working with new moms who wanted to breastfeed as a volunteer and I miss the whole wonderful experience of volunteering on that level. That was a major reason to move where I am moving. So yeah, I think I will only look forward in hope and not get stuck in the present fears.

Blessings to you christianyvonne!!
EmsMom is online now  
Reply

Quick Reply
Message:
Drag and Drop File Upload
Drag files here to attach!
Upload Progress: 0
Options

Register Now

In order to be able to post messages on the Mothering Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page


Forum Jump: 

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off