1 Piece at A Time

My American Dream. (Some assembly required.)

Friday, June 30, 2006

Flood Stories

Our county was one of the places that got hit hard by the floods. Luckily, the house we're going to close on next week seems to be fine. (Boy, would that have sucked.) It was touch-and-go for a while because the reservoir dam was leaning and they evacuated what will be our street. We haven't had mail in two days (maybe three, if we don't get anything today) and our Main Street is a muddy, tree-strewn mess. We fared better than some other villages, though. Walton was four feet under water and they haven't had running water since Wednesday. Other towns are under curfew and the police are issuing tickets to all non-emergency vehicles. Best of luck to any bloggers out there who were also affected by this once-in-a-lifetime storm.

Tuesday, June 27, 2006

One Giant Debt-Reduction Leap

Last year, when one of our businesses—the one with employees—started to tank, we got behind in payroll taxes. It reached a point where we had to let everyone go and it has taken us a year to catch up. If you own a business, I cannot stress enough the importance of paying IRS liabilities on time. The penalties and interest can be financially crippling, not to mention the toll it will take on your emotional health.

Friday, I sent a check to the IRS paying off the balance we owed. This is an enormous monkey off my back.

Monday, June 26, 2006

We're Getting Close!

Since my last post, we've received the commitment letter from the lender and the title search is underway. While we have yet to set a closing date, it shouldn't be more than a couple of weeks. I cannot wait to get into the house! I can't imagine that either of us will experience one smidgen of buyer's remorse. We both love the place and feel that we are getting a super bargain ($112,000) compared to what homes are going for these days. Once it's ours, I'll post a picture.

It's been a year since Pancake and I have had our own place, and since this is our first home, we're doubly excited. Oh, I miss my things! Everything has been in storage and I've started to forget what I own.

I apologize for neglecting my blog, but I've been faithfully reading my favorites: Windy City, Udandi, Diva Jen, and Boston Gal. I promise that once things settle, I will get back to posting regularly—I have to because I'm going to start working on a ten-year total debt elimination plan (mortgage included). I don't ever want to be in the position that we we're in these last two years. And since we've mastered the art of living on very little money, we’ve agreed to stick with the "lifestyle" to which we've become accustomed and focus our energies on our new home and on becoming debt-free.

Thanks to everyone who reads this blog!

Tuesday, June 13, 2006

It's All Coming Together

I haven't been blogging regularly because we've had a lot going on with the business and the house. But here's a quick update: The seller came down $3000, which means we'll pay $112,000 for the house. The house was appraised at $115,000. Before winter, we'll have to install a chimney liner (older homes were built without them, I learned) and get some minor plumbing issues fixed. Overall, everything's chugging along smoothly. We should get a commitment letter from the lender by the end of the week, and then the title search can begin. I've read that the commitment letter is the most important document we'll receive—that it's essentially our final approval—so I'll rest a bit easier once that's over.