WWYD?? LAND OR PAYOFF last of debt???

Freya · #41 04/26/11, 02:58 AM

Well I will come at this differently then everyone else.

You only live once. You are only young once. Your kids are only young once.

In 10, 20 or 30 years... will you look back and truly regret you did not jump at this opportunity?

What makes you sooo convinced it was an idea from the "devil" and not a higher power or the universe?

crunchy_mama · #42 04/26/11, 08:02 AM

Let us know when you call to make your debt free scream

myheaven · #43 04/26/11, 09:10 AM

We will. We may even take a trip to his (Daves) studio to do our scream. NEVER did I think we would cross that finish line of paid for debt. The mountain of debt was so huge and in 2009 we had so much in medical expenses it was so crushing to us. It took all of our saving, retirement, medical fund, and emergency fund. Our addition and remodle due to mold had to be put on hold. THe mold issue was hard to live with DH is alergic to mold not just sneeze but hospitlized type of allergic. THe 2 boys are allergic but not as bad as dh. 1 has asthma issues due to mold. The Investments sold yesterday just waiting on the check to be shipped. Monday will be the latest it should arrive. We cannot wait.

myheaven · #44 04/26/11, 09:21 AM

Quote:

Originally Posted by Freya

Well I will come at this differently then everyone else.

You only live once. You're are only young once. Your kids are only young once.

In 10, 20 or 30 years... will you look back and truly regret you did not jump at this opportunity?

What makes you sooo convinced it was an idea from the "devil" and not a higher power or the universe?

NO blessing from the Lord comes with greif. To be in debt and enslaved to another for a debt is not a blessing it is a curse. Never would the Lord give you something and then cause you greif (children are not included in this equation JOKING) Never would he give you something and then tell you, you now need to work 20 years to pay him back for the blessing.

The land is not NO forever its just NO for now. Never know what is going to happen in the next year shoot or month for that matter. You never know after indepth discussion withthe owner he is looking to barter something for the land.

sticky_burr · #45 04/26/11, 02:57 PM

well i know akin got a 80k across the road from the lake home direct from owner. a lake with 400k homes on it. 5 bedroom always with water view. so deal of a lifetime .. they immediately took loans out on top of it and had a kid(blessing but poorly timed) .. blown golden opportunity . well .. look at the deal and opportunity try to get the most of what your selling and pay the least for what your trying to get. put down the numbers the pros and cons.

questions the current house how efficient is it. wil it be easy to operate in the SHTF scenario what if fuel/heating/electric doubles? how about only 50% in the next couple years?
what i am thinking IF you can get the new place cheap and get good rental income or sale on the new place add in the 30k. with a (smartly built)highly insulated home situated well to get high thermal gain in low winter sun with solar atleast the 1000$ solar drain back thermal and perhaps PV as the government kick backs allow so we now have a low(er) input house with either a income from the 'old' place or mostly paid off from the hopefully well sold old place sale. thats what i am thinking atleast.

Joshie · #46 04/26/11, 03:20 PM

Pay off your unsecured debt. If your child is disabled and needs care look into Medicaid waivers. Many will pay for home care. Some states have Katie Beckett waivers that are not income related. Apply for SSI. You should be able to get Medicaid with that waiver which can come in handy even with a spend down.

Is your child so disabled that a move to the country is unfeasible? Will you be able to find home caregivers who will supply care even out in the country? You're talking about a very small piece of property that you'll outgrow almost immediately.

myheaven · #47 04/26/11, 06:43 PM

Quote:

Originally Posted by Joshie

Pay off your unsecured debt. If your child is disabled and needs care look into Medicaid waivers. Many will pay for home care. Some states have Katie Beckett waivers that are not income related. Apply for SSI. You should be able to get Medicaid with that waiver which can come in handy even with a spend down.

Is your child so disabled that a move to the country is unfeasible? Will you be able to find home caregivers who will supply care even out in the country? You're talking about a very small piece of property that you'll outgrow almost immediately.

We already live in the country and it has worked out well for him. He has mental disabilities and frequent seziures now due to his fall. He needs constant supervision. Our family is large enough that we can keep a constant eye on him. We are now in the process of looking at disability for him due to things will not change any more(for the better). We have never believed that it is up to the goverment to pay for our children, we chose to have them we will pay for them. But 2,600 a month give or take a few refillls is more than a person can do. We never had assistance so we are starting to ask for him. the debt is being paid off friday, monday at the latest.

rambler · #48 04/26/11, 09:02 PM

Credit card debt bothers me. Not having that paid off period every month is a problem.

Other than that one red flag, it seems you have a pretty good plan to go for the new adventure.

I think you're version of paid off and what some others are thinking is different - you mean get the loose ends debt paid off, property & house will still be a big ehough debt?

Here's a thing. Today you can still get long term, relatively cheap house loans.

With the commong inflation, that will go away.

So, if you have a good paying job that will not be going away, then you can use inflated dollars 10 years from now to pay off the land you buy this year.

The devil is in the details tho, you got to keep the job as the ecconomy changes from what we have now to the inflated mess we will have soon.

--->Paul

myheaven · #49 04/27/11, 08:35 AM

Rambler: We normaly never carry a balance but for some reason last month the one cc didnt get paid off. It is only around 1,000 so realy not much. The one is a 6 month 0% It has less than 1,000 go to be paid off.
We had an unexpected roof repair and the emergency fund and all savings was gone due to DS medical bills. I have a loathing hate for cc's. I think cc's are the worst invention. DH on the othter hand loves them. Like dave says your playing with snakes attempting to do the reward points and all.
DH job (new one) is more secure than we believe thenhis last. He waswith his last company for many many years. We could not stand the politicl correctness of it anymore. kids and I were not allowed to hug or kiss him at work. Everything was just so fake. Every answer was prequalified and construed by the higher ups.You could not be a real person. We felt the more as time went on you had to sellmore and more of our souls to the devil to keep going. Just couldnt do it any more.
Dh now hauls fuel for the county. If there is road construction, sand pit mining, miltary pratice, and farmers working he has a job, The pay is much less right now cuz hes the new guy but, that will go up in time. He is already the head tanker. If this job goes away for some reason. He has several other companys bidding for him. This job offered more home time so we took it. But he is in school for criminal justice. But that job is not as secure as the one he has now. GO figure lol.
We are still planning on selling the house.We are hopeing this year. We are waiting on the neighbor to come out to prospective property and give us an idea on what we can get for some of the standing timber. That will help pay for a part of it. Plus free us up to just rip stumps up.(already have the equipment for that) We are both ready for a new adventure but with the cash now. we will pay off the debt and then start double house payments.

CJ · #50 04/27/11, 12:36 PM

Well I posted my opinion already, but you lost me with this one. What's the difference between this mortgage and the one you already have? They're both debts, and you're already working to pay back the existing mortgage.

Quote:

Originally Posted by myheaven

NO blessing from the Lord comes with greif. To be in debt and enslaved to another for a debt is not a blessing it is a curse. Never would the Lord give you something and then cause you greif (children are not included in this equation JOKING) Never would he give you something and then tell you, you now need to work 20 years to pay him back for the blessing.

The land is not NO forever its just NO for now. Never know what is going to happen in the next year shoot or month for that matter. You never know after indepth discussion withthe owner he is looking to barter something for the land.

Patt · #51 04/27/11, 12:46 PM

Quote:

Originally Posted by Narshalla

This is a hard one.

Normally, I would tell you to pay off the debt, first thing, no question, but in your case . . .

I'd have to say that you don't have a dream, what you really have is a dream with a workable plan -- or as it's otherwise know as, a workable goal.

I think it would be a good idea to sit down with the realtor and find out just how much you will really make if you sell now. Make sure she factors in any taxes, inspections, her commission, and anything else you would have to pay.

As a big for instance, if you sell your current house for 150k, the commission (hers and the buyer's agent) would probably be about 9k. Then, have you lived in your house long enough so that you don't have to may capital gains taxes on the money you will realize from the sale? If not, then that will take another big bite out of your profit.

Does your city/county/state have any little quirks in their laws that will cost you, as a seller, money? They might, I don't know.

Those are some things to think about -- hope this helps!

I agree with Narshalla. Normally I always say pay off debt but it looks like you can do that with the sale of home plus moving and come out way ahead in the long run. But definitely go over all the angles on the home sale like she pointed out.

I sure hope it works out for you that sounds awesome!

myheaven · #52 04/27/11, 09:06 PM

Quote:

Originally Posted by CJ

Well I posted my opinion already, but you lost me with this one. What's the difference between this mortgage and the one you already have? They're both debts, and you're already working to pay back the existing mortgage.

I never said my existing mortgage is a blessing. Both dh and I regret getting the house the way we did. The mortgage is fixed and manageable and we have equity unlike most people. We will not use the equity of the house to get more land. Or things fixed in the house. We want out of this house in 2 years. If we have to sell under market we want the option.

Sticky burr you asked if the house is efficent in heating and such.
YES it is we replaced all the windows doors, insulation. and a good portion of the roof. It was just a house on 8.52 sand picker, brier and scrub pine.
We replaced the whole heating system. We have an outdoor wood boiler we added. we have 3 zone heating and cooling. We also have inside wood stove for cooking and back up heat if ever need be. We even changed the floor plan. We put in an orchard and many many berry bushes of all kinds. If we stay here we can still provide alot of our food. But land is not enough for our whole large family. Its getting hard to graze enough cattle to feed us. We are not going to run pigs due to space constraint. I will not over crowd my land and make it sick. 20 acre will provied enough for my family and then some.
To sell this house would be a great blessing. Its too small and the land is too small. If we have to stay it will be hard but ok. I would love to see the debt gone also.