July 1st, 2020 at 04:34 am
Assets:
NT's UK pensions:
AV: 22,397 pounds ($27,996)
SW: 29,047 pounds ($36,309)
FL: 6,462 pounds ($8,078)
NT's 401(k): $88,673
NT's Roth IRA: $43,474
AS's trad. IRA: $21,004
AS's Roth IRA: $64,468
AS's SEP IRA: $45,695
CJ's 401(k): $153,837
CJ's Roth IRA: $47,862
NT's flat: $212,500 (200,000 pounds value x1.25 -15%)
CJ/NT/AS house: $427,281 ($454,554 value -6%)
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TOTAL ASSETS: $1,177,177
Debts:
US Mortgage $369,583
Loan from friends (duplex) $9,000
UK Mortgage 1 $228,120
UK Mortgage 2 $5,928
UK Mortgage 3 $6,243
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TOTAL DEBT $418,874
Current Estimated Net Worth: $758,303
May 2020 estimate: $743,824
Change in net worth: +$14,479
Summary: Our net worth finally surpassed our previous high which was way back in January. Five months later we have gained $545 in wealth. (And I'm certainly not counting on this amount.) I'm not going to do a retirement progress update yet though, because we've paid off about $5K in debt in those months, so I know overall our retirement accounts are still off their January highs.
I will be interested to see if our appraisal for the refi we're attempting will turn up a higher home value than what I have. But again, considering how weird everything is right now, not really counting on anything.
Notes on the numbers above: House value estimates are approximate. (I do have my eye on a comparable listing for the UK flat, but it's been on the market a long time.) UK pension values updated about once a year. UK asset values and debt amounts are calculated figuring $1.25 for every British pound.
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1 Comments »
June 29th, 2020 at 07:11 pm
Our mortgage lender sent a refi offer -- they FedEx'ed it which was a good ploy to get me to open it.
I like the rates they mention and that there are fewer fees. Plus it would be a chance to eliminate our mortgage insurance, which we're stuck with for the life of our loan regardless of LTV.
But they slapped this chart on the mailing and I'm totally confused. The new scenario shows a new loan amount that's over $120K lower than our current principal balance.
So what I'm trying to figure out is, why are they showing that lower amount? Are they trying to say we'd have to pay down to that amount to qualify for the refi? Or are they being sneaky and pretending this offer will save way more money than it actually would if I refi'ed the entire principal amount?
Either way, is this sneakiness concerning enough that I shouldn't even reach out to them? I didn't choose this lender; when we refi'ed, the lender sold our loan to this company. We haven't had any problems with them but don't really know anything about them either.
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June 3rd, 2020 at 11:51 pm
All our mortgage payments hit:
US: $774 to principal
UK1: $191
UK2: $40
UK3: $42
That's a total of $1,047 debt paid.
New household debt totals:
US Mortgage $369,583
Loan from friends (duplex) $9,000
UK Mortgage 1 $28,120
UK Mortgage 2 $5,928
UK Mortgage 3 $6,243
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TOTAL DEBT $418,874
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June 1st, 2020 at 10:38 pm
CCF's note made me realize a quick check-in might be welcome! We live in South Minneapolis, the area facing the most unrest, but so far our block has been untouched. We're not getting much sleep but otherwise OK. Most protesters are staying home during curfew so the looters and arsonists are easier to target. Unfortunately there's some white supremacist activity that's very calculated to strike fear so we've been staying up very late watching the streets. So far they've not hit any private homes, though they've threatened to, so we're hoping they get weeded out before that can happen.
On the bright side, very proud of most of our neighbors for everything they're doing for one another. We haven't done much but we donated some money to various causes, and NT attended a rally and a cleanup.
I'll check in hopefully soon with a longer life update, including some more financial impacts of COVID-19 that have cropped up since my last life update, but for the time being I wanted to let you know we're hanging in there, focused on getting through the day to day as best we can.
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