Dropped $121K of debt in one day! :)


I haven’t been on the board much – maybe in a year! My husband started working in Virginia (I’m in Michigan still with our 4 year old daughter) last May, and it’s been a crazy ride. He moved to Virginia to take a next step in his career. It is a contractor job, but we were hopeful it would lead to a full-time job with the company. It hasn’t yet, but he will know by this July whether he is getting a job that is open right now — or if he will come back home to Michigan (we think he could pretty easily get a job with his old company, but it would be a big pay cut – but would still leave us just fine if I keep working).

But, our GREAT news, is that we closed last week on our house. This is a house we bought at the top of the market — in our early 20s, when we were stupid. I loved that house – it was there through our early marriage, bringing my daughter home from the hospital and watching her grow into a strong, confident, little girl. BUT, it was a constant stressor. We had a horrible interest rate. We kept it through really touch financial times, and contemplated whether we would have to be foreclosed on many times. But, with the market returning a bit, us being able to pay down the principal in the past year, and a great tax return, we were able to sell the house (we brought some money to the table to get out of it)! I would never have thought it would be possible, but we are free and clear of our house — without having to do a foreclosure, or a short sale. We’ve cleaned up just about all of our credit card debt, too. We still have a giant student loan from my husband, a small amount of a car loan I’m paying off, and a little bit a of debt to my husband’s parents, but I just can’t believe we did it on the house!

My daughter and I are living with my mom for a couple of months (we insisted on paying her rent). By July, we will have paid off my in-laws. If we end up moving to another state, we will get rid of my car (which we owe less on than it’s worth, so that debt will be gone), and all of our credit cards should be gone.

We never could see this light from the pile of debt and horrible money circumstances we were under 4-5 years ago. We are far from perfect now (we would be in amazing situation if my husband’s student loan was gone!) but hallelujah, we’re on our way!