OMG. My finances look really crazy right now, but it's going to be all good soon.
I got the amount I need to bring to condo sale closing, and because it's over $15K I needed to wire the funds instead of getting a cashier's check. I headed over to the bank and set one up for tomorrow morning.
It was about $260 more than I estimated, BUT part of that is paying half of 2015 property taxes, which we've also been saving up for in our escrow. Either our mortgage company or the county will refund us a few hundred bucks eventually. So it's not too bad.
I also heard from the broker on the duplex refi; we do need to pay off the promissory note at closing. I'm glad I was already planning to do that soon! Now it's a few weeks sooner than I planned, so the checking account is going to be very light for a few weeks. We'll close on the duplex refi and pay off the promissory note April 15.
Now I'm super glad the tax guy told us the minimum AS has to prepay in taxes April 15! I can put off paying the additional money I was planning to pay until a later date when we're not as tight.
I wrote down everything that's happened since March 16 and will happen by April 15 and had to laugh/shudder. It looks really crazy. But when it's all over we'll be in a much better position and can start to rebuild our savings and pay down debt.
UK reno: Paid $22,320 to the management company for renovation; borrowed $2400 from NT's mum to help with this. (May need to borrow about $400 more from her if we don't receive new rental income by June 1.)
Condo sale: Paying out $29,594.50 to pay off the mortgage and cover seller fees and half of buyer's closing costs. Borrowing $10,500 via a 0% credit card and $4500 via a student loan to help cover this.
Duplex refi: Paying $26,559.35 to pay off the promissory note when we refinance the main mortgage. Borrowing $15,000 on an unsecured line of credit to help cover this.
In total, we're paying out $78,473.85 in home-related stuff this month!
$32,400 is paid via new debt; the other $46,073.85 is "real" money.
As a result, we'll be eliminating $174,500 of old debt, getting rid of the US condo and raising the value/rental potential of the UK flat. Oh, and the cumulative result of selling the condo, refinancing the duplex and paying off the promissory note will mean about $1860 per month less "money out," which will make funding retirement and paying off debt a LOT easier.
Our UK and US accounts are going down to virtually zero April 15, but we've got great cash flow, including over $4000 of freelance income expected from AS's work in late April/early May.
Crazy, crazy times, but it's almost over.
Things are moving fast!
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