Debt Balances as of the End of November 2010:
- First Mortgage: $169,280.48
- Credit Card Transfer #1: $23,660.00
- Credit Card Transfer #2: $6,600.00
- Rental Property: $106,682.15
Total Debt: $306,222.63
This is a difference of -$1,022.15 in principle from the $307,244.78 owed in primary and rental mortgage debt* at the end of October. Up from -$824.56 last month!
*The credit card transfers used to be our second mortgage.
Our debt snowball is still just sitting there until we sell this house.
Breakdown of Regular Payments (Do you notice anything different?):
- First Mortgage: $1641.58
- Credit Card Transfer #1: $215.00
- Credit Card Transfer #2: $100.00
- Rental Property: $758.00
Total Monthly Payments: $2,714.58.
So… did you notice something different? Yes! Our primary mortgage payment went up by $102.95! It’s so awesome!
I really don’t understand how our property taxes manage to go up as our property value continues to go down…
The credit card payments (which took the place of our second mortgage) are a bit arbitrary: credit card payment #1 barely covered the minimum; credit card #2 didn’t require a payment! But I threw $100 at them anyway.
We’re still trying to bulk up our savings, which has been difficult in light of all of the moving expenses from John’s PCS to California. Yes, the kids and I are still in Ohio, and will be until this house sells…
John did secure a travel reimbursement for his travel expenses; the moving expenses will have to wait until the rest of us (and our stuff) join him in California. Still, it was a relief to be able to replenish our savings account a little bit. Especially since I didn’t think we’d see any compensation from Uncle Sam before our move as a family was complete.
According to my (rough) calculations of John’s travel and DITY (“Do IT Yourself) Move:
- Costs = $5,444.39
- Reimbursement (so far) = $4,554.67
Unfortunately, his BAH (Housing Allowance) (aka $$$ for rent) for California has not yet kicked in. So. We’re on the hook for our mortgage in Ohio and his rent in California, all on Ohio’s BAH… which is, shall we say, not quite as impressive as Cali’s?
I really can’t complain, though. The reason this move isn’t going to kill us financially is precisely because John PCS’d alone to a state with a higher cost of living. The increase in the BAH is what’s going to allow us (eventually) to pay our mortgage in Ohio as well as the rent for John’s hole in the wall geo-bachelor pad in California. You know, until this house sells. Which it will. Any day now.
Finance Updates Linky-Linky
I hope you all will link up your own debt and networth updates to the linky-linky below. And copy and paste the button to the right (and on the sidebar) if you’d like, as well. If you’re reading this by email or your RSS feed, you’ll need to click over to the post itself. But please do: this is inspiring, people! Anyone feeling newly motivated to face their debt head-on? Please tell us all about it in the comments below. We’d love to cheer you on, too. 
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{ 2 comments… read them below or add one }
Thank you again for all your honesty in showing how you are doing. I always like to check your blog to see if your house has sold. We have some decisions to make about our own home, so I love to see how others are dealing with this real estate market. Thanks again!
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We’re about to enter in nearly as much mortgage debt as you guys have in total debt… and I’m not looking forward to it. Damn Canadian housing prices…
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