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Figured that might get some attention...now as to the story behind it.
Paul and I are in debt. Deeply. His heart surgery kept him out of work for quite some time. My torn ligaments kept me out for 4 months. So between the two of us we've basically screwed ourselves. We were nearly caught up on bills after his surgery when I had my accident and that just started the whole cycle all over. And now with the slow-down in the economy my income (I'm a server at a hotel) kind of tanked with it.
Paul's father is no longer able to drive. He's 85 and was given the choice to give up his vehicle or lose his license. He chose the former. We were asked if we wanted the truck. I told Paul that if he wanted to get it we would do our best to work something out. He did. So we went to the bank to ask about a loan. I was afraid we'd be turned down flat. Then the most amazing thing happened.
The personal banker told us that since our house was nearly paid off (next April) and we live in an up-and-coming part of town we could re-finance the whole kit and kaboodle. Roll all of our current bills (with the exception of Paul's current doctor bills which we're still waiting on) into the home equity credit line, include the truck, and pay off everything. Paul was elated. I was worried. I figured we were looking at over a grand in monthly payments (which would rival what we were paying now). The banker took a few minutes, made some calls, did some calculations and came back with the number.
We would get a $50,000 line of credit, over 10 years, for $500.00 a month. That's saving us almost $700.00 a month in bills.
Needless to say we said yes. And now we can actually start saving money again. I'm giddy.
Even Captain and Tennille can't ruin this for me. :-)
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