Mrcauser’s Weblog

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Mobile home now paid in full…….

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One less personal debt to worry about and retirement just got a little closer. A few thousand more for credit cards and I’ll be set. Even though Patti has a student loan payment I’m sure we can afford $62 a month. I won’t pay it off because it’s her strongest credit reference. The payment amount is immaterial in FICO scoring. The older it is  (and as long as it’s never late,) the better.

In 2.5 years we’ve gone from homeless to middle class with a free and clear roof over our heads and I intend to stay that way at least until I’m debt free. However, this doesn’t mean I won’t borrow for investment or business purposes. If you go bust in a business it can be structured not to touch a home or retirement funds. And the easiest way to prevent going broke is not to carry personal debt!

I think I’ll be able to make $190 a month lot rent and maybe a hundred a month in utilities as fixed expenses. Even on Social Security. Not that I have a lot of faith in that check ever showing up.

Anyways, with a FICO score bumping 750  a debt to income ratio bumping 18% with 3 years on the job I’ll have lenders falling all over themselves to lend me money.

I’m still calling the bigger bust in 5 to 10 more years. It will be a killer with government debts world wide in the trillions.

Unless 2012 wipes us out, right?

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Written by mrcauser

April 30, 2010 at 6:12 pm

Posted in Uncategorized

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