prosaic money stuff, continued

Another week, another financial appointment… This time, following my financial counselor’s advice, I headed to our bank (Bank of America) to meet with a mortgage specialist and learn about what loan options might be available to us through BofA. Specifically, I was wondering if we would qualify for a loan at all, and, if so, how much we could get. Would it be enough to buy both a place in the Methow and a place in the city? Also, while I knew that my bank was not one of the banks that worked with USDA rural development loans in Washington, I wanted to know if they had land loans of their own available, and how those compared to the USDA guaranteed loans that I’ve been looking at. Finally, I wanted to get their take on our pay off debt vs. save dilemma: where should we focus our energies (and available cash)?

The mortgage specialist asked me a couple of questions about income, debt, and credit score, punched some key on her calculator, jotted down a handful of numbers on a piece of paper, and came back with the following:

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finances and fires

I’ve noticed that my posts tend to consist of (longish) bullet points lately, but that’s just the way things stand these days – an accumulation of random bits of news, with something to say about each one but not quite enough actually happening, or not enough time, to go into much depth on anything. So, here goes: Continue reading