As mentioned previously more than once we have been working towards restructuring our debt.
On Monday evening we traded in our two cars for one very good used one. We lowered our monthly car payment by some 25% and dropped the annual vehicle cost by over $4500. Nice.
Yesterday we visited our favorite local mortgage company and started the process to refinance the house, and borrow against its equity to pay off our tax bill. It was very difficult to have to discuss with the banker our situation and ask for their help in addressing it. She was able to present us with some numbers that more than satisfy. Our monthly housing cost should drop by about 18%, and, we’ll have the funds available to pay off Uncle Sam.
Michele and I firmly believe that complete freedom is only possible if you take complete responsibility for your actions. We created this situation and we are addressing it. We faced the pain of admitting our situation required outside intervention. A few minutes of embarrassment and chagrin have resulted in our being on a path towards being in control of our lives again.
By owning our stuff, emotional, spiritual, and otherwise; we also get to own our lives. It’s all good.