July Is Done
Monday, July 31st, 2023 10:10 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
snoozefestaudioSo what was this humid, hot-ass month about anyway? As I've previously mentioned, it's felt like a directionless blur of a month. But I did actually do some stuff...
I still haven't heard back from BMO, but... fuck em!
They said they couldn't discuss anything with me until I sent the documents, and I did that so... ball's in their court now.
However, tonight I did go in to check the BMO bank accounts. They're both fine. And I Zelled in money as per usual, to cover the mortgage autopay for August.
--<>--
I then paid AmEx, which was only $250.00 this time around, due to the weird schedules of the different utility bills.
All the rest of the cards are currently at $0.00 balance except Wells Fargo, which is finally taking it's auto payments from my PNC account... fifty bucks a month... twice the minimum payment... and I'm leaving it to do that for a year.
The current balance on it is like $1,270.00, and the limit is only $1,500.00 so... it's more or less maxed out.
But that's the one I'm letting sit with a balance for credit score purposes.
I have no doubt that after a year's time... that twelve hundred dollar balance will still be twelve hundred... despite them having taken $600.00 out of my checking.
But that money pays for a year's worth of credit history, paying exactly on time every month!
And that will keep the other banks of the world swooning over me!
--<>--
I just got a letter today in the mail from Discover, offering me a home equity loan, of up to $300,000.00.
So... clearly the cat's now out of the bag, with the banks, that I own a home.
Is this because BMO got my docs and put them into a system? I dunno.
But Discover suddenly knows that I have a home... that has a ton of equity (I owe way less than it's worth) and they want to give me a new HELOC... for up to $300,000.00.
This is based on an AVM that says my home is worth $400,000.00.
Now, Zillow says this house is only worth $200,000.00.
And in their fine print, Discover says their AVM is just an estimate.
But clearly... they'd love any excuse to lend me north of 200K!
And this is Discover!.. they're pretty snooty, and they don't play.
So... this is one possible way to get BMO out of my life forever.
--<>--
It'd only take 100K to pay off the legacy mortgage & HELOC, and the PNC loan.
So if Discover lent me 200K, and if it was a new HELOC, rather than a straight up mortgage... the payments might be a lot easier than what I've been doing the past six months on all that crap.
Also, as a HELOC, rather than a mortgage, it should be easier to qualify, and get through.
In such a scenario... my credit score should go up, because, I will have paid off the old mortgage, before I was ever officially on the hook for it... and paid off a big unsecured home improvement loan only a few months after taking it out, to boot!
Yes, my overall debt will increase... but only by the amount I paid to get BMO off my back.
But at the same time my availible credit will have increased... because Discover will have given me a 200K HELOC credit limit... of which I will have only used half.
--<>--
Granted, this is just drunken musings, late on a Monday night.
But, the fact remains that the house is worth substantially more than what is owed.
And my credit score remains between 750 and 800, depending on the day, and who you ask.
So somebody's GOT to give me a fat loan, at some point, with easy payments, because it's long term, because it's secured by the house.
And when I get that... my expenses go down dramatically... as my padding goes way up!
And that all buys me more time to increase the income... which has been the name of the game since Dad died.
I have NOT increased my income at all yet... but, it's only been six months, and I was slowed down by the scare of working in no AC over the summer.
But full time resumes in two weeks, as does the school year, so... it's best to just be the loyal school janitor for the rest of 2023.
That gets me well past the, one year mark, with Geostaff, which is critical!
It makes me look better to banks, who will assume I've been full time the whole way, and it makes me look better to GeoStaff's maintenance departments within the school district who I'll be applying to.
But once winter break is over, and 2024 is underway... I should have enough altitude to sustain my little life and household, with my puppy and two kittens, for a good decade or two.
Well see!
But, you know... I revisit this stuff at the end of every month.
And I am optomistic [knocks wood] about August!
°¦}
https://soundcloud.com/snoozefestaudio
- Produced a better version of Closer To You and uploaded it.
- Protected everything in the house with surge protectors.
- Finally got the WIFI repeater to work properly, so the cameras can stay on 24/7.
- Got the oil changed in the RAV4.
- Sent off the requested documents to BMO to assume the mortgage.
- Pulled all the knot weed out of the brick walks.
- Installed a new mailbox.
- Got my driver's license renewed.
- Got the Coffeehouse Boyfriend album repackaged and properly listed as being an album, on my SoundCloud page.
I still haven't heard back from BMO, but... fuck em!
They said they couldn't discuss anything with me until I sent the documents, and I did that so... ball's in their court now.
However, tonight I did go in to check the BMO bank accounts. They're both fine. And I Zelled in money as per usual, to cover the mortgage autopay for August.
I then paid AmEx, which was only $250.00 this time around, due to the weird schedules of the different utility bills.
All the rest of the cards are currently at $0.00 balance except Wells Fargo, which is finally taking it's auto payments from my PNC account... fifty bucks a month... twice the minimum payment... and I'm leaving it to do that for a year.
The current balance on it is like $1,270.00, and the limit is only $1,500.00 so... it's more or less maxed out.
But that's the one I'm letting sit with a balance for credit score purposes.
I have no doubt that after a year's time... that twelve hundred dollar balance will still be twelve hundred... despite them having taken $600.00 out of my checking.
But that money pays for a year's worth of credit history, paying exactly on time every month!
And that will keep the other banks of the world swooning over me!
I just got a letter today in the mail from Discover, offering me a home equity loan, of up to $300,000.00.
So... clearly the cat's now out of the bag, with the banks, that I own a home.
Is this because BMO got my docs and put them into a system? I dunno.
But Discover suddenly knows that I have a home... that has a ton of equity (I owe way less than it's worth) and they want to give me a new HELOC... for up to $300,000.00.
This is based on an AVM that says my home is worth $400,000.00.
"An automated valuation model (AVM) is a term for a service that combines mathematical or statistical modeling with databases of existing properties and transactions to calculate real estate values. The majority of AVMs compare the values of similar properties at the same point in time."
Now, Zillow says this house is only worth $200,000.00.
And in their fine print, Discover says their AVM is just an estimate.
But clearly... they'd love any excuse to lend me north of 200K!
And this is Discover!.. they're pretty snooty, and they don't play.
So... this is one possible way to get BMO out of my life forever.
It'd only take 100K to pay off the legacy mortgage & HELOC, and the PNC loan.
So if Discover lent me 200K, and if it was a new HELOC, rather than a straight up mortgage... the payments might be a lot easier than what I've been doing the past six months on all that crap.
Also, as a HELOC, rather than a mortgage, it should be easier to qualify, and get through.
In such a scenario... my credit score should go up, because, I will have paid off the old mortgage, before I was ever officially on the hook for it... and paid off a big unsecured home improvement loan only a few months after taking it out, to boot!
Yes, my overall debt will increase... but only by the amount I paid to get BMO off my back.
But at the same time my availible credit will have increased... because Discover will have given me a 200K HELOC credit limit... of which I will have only used half.
Granted, this is just drunken musings, late on a Monday night.
But, the fact remains that the house is worth substantially more than what is owed.
And my credit score remains between 750 and 800, depending on the day, and who you ask.
So somebody's GOT to give me a fat loan, at some point, with easy payments, because it's long term, because it's secured by the house.
And when I get that... my expenses go down dramatically... as my padding goes way up!
And that all buys me more time to increase the income... which has been the name of the game since Dad died.
I have NOT increased my income at all yet... but, it's only been six months, and I was slowed down by the scare of working in no AC over the summer.
But full time resumes in two weeks, as does the school year, so... it's best to just be the loyal school janitor for the rest of 2023.
That gets me well past the, one year mark, with Geostaff, which is critical!
It makes me look better to banks, who will assume I've been full time the whole way, and it makes me look better to GeoStaff's maintenance departments within the school district who I'll be applying to.
But once winter break is over, and 2024 is underway... I should have enough altitude to sustain my little life and household, with my puppy and two kittens, for a good decade or two.
Well see!
But, you know... I revisit this stuff at the end of every month.
And I am optomistic [knocks wood] about August!
°¦}
