Wednesday, May 9, 2012

Snack cakes and debt

I've been lucky to have a great job and a house that increases in value instead of being underwater, dual income no kid lifestyle. My mortgage is with Bank of America so I'm going to try and refinance, but I will probably end up back with BoA anyhow. It's not that I need help or think it's unfair when others get a bailout, but I've done everything right and don't even get a thank you.
I know there are a small percentage of people who did everything right and still need help, and that's something I understand, and can work with. There are many others who got horrible mortgages they couldn't afford and a crap ton of other debt they couldn't/didn't manage. Sure, my situation isn't sensational so it won't ever hit a headline but maybe it should. Maybe doing things right should be the headline, wouldn't that be a change.

Sometimes it crosses my mind, all the things I could finish and do without caring about the consequences of debt. The solar system would be done on some new land and a cabin, a well dug there as well... another 5 years+ worth of food storage would be done, etc. Work hard, pay your bills, keep your head on straight and live under your means preparing for the future.

That's it, I'll just sit around watching TV, wearing flip flops and put on 150 pounds and go to the store each day for whatever meal I want to eat that comes from the microwave.
The American way (the original) is often very frustrating. The new American way is awful.

I went to the store and got a bunch of Little Debbie Snack Cakes for the food storage. There were some Zingers in there too, the perfect post long distance running food. This purchase was all thanks to Duke for mentioning them in a post about how no one would have them post TEOTWAWKI. Sometimes I'm such a jackass I make myself laugh, but why the hell not have a couple buckets of cupcakes. Worst case I'll toss them out in 18 months.


  1. Back when I live in south Florida, I got myself into a financial mess after a divorce, as many people do. I was one of those back in 2002 or 2003 that got a loan that shouldn't have. I ended up over a financial barrel and had to get a second job. Almost a year later, I was in better financial shape and was able to refinance into a real loan and not some freaking balloon mortgage.

    17 months after I originally bought the place, I sold it for 33l more than I paid for it and paid off a small mountain load of debt.

    Within a year the Market crashed down there and many people got burned. That Naples market has always lead the U.S. market. Had my timing been off I would have been screwed...

    There are so many ways that it could have turned out badly. I was extremely lucky, far more than I deserve.

    What kills me is that all these banks, not just picking on BoA got all these loans to help people out with these mortgages. They bought out other banks instead of helping the underwater mortgage owners... who never should have been in a mortgage to begin with.

    Regarding Duke's post. Back in 2002 I went to Ghana, West Africa. There were periods were we went without electricity for several days at a time. I wish everyone could have that experience. I probably need recreate that again here and do without for a few days just to experience it again.

    1. typo: that should have been 33K not 33l

    2. I actually laugh a little when I think about how not having power for 3 days would destroy so many people. Sure, I love my toys, slaughtering helpless kids on Battlefield 3, etc. but I can get by just fine without and I'll get more sleep. It wouldn't be awesome and someone at home would be cranky without those 10 minute showers.

      Yes, the banks got bailouts and with these funds I can't think of a single instance where they did anything to help the average consumer. I say let some things fail, everything can't be golden and wonderful, it's business.

      Yes 33k, not 33 lira.

  2. i am in such a pickle when it comes to these kinds of discussions. i am normally a very empathetic and sympathetic person...but i am also one who was born and raised in a poor coalmining family and i remember we went a year without a washing machine when ours had broken because my dad bought everything in cash. i also worked hard my whole life, paid off my student loan, applied for a mortgage that we could afford and then sold our house at asking price. and incurred $28,000 in IRD fees! because we were paying off our entire loan, we were hit by these fees!!! it thoroughly p*ssed me off, as a friend of mine had left her house in the states and came back to canada. she never paid her mortgage for 6 months while the bank was trying to resell the house or something. then the bank sold the house for $30,000 less than she owed on her mortgage. and what fees was she hit with? zero! she didn't have to pay a cent on fees, nor did she have to pay back the $30,000 owing. she just up and walked away from a mortgage without looking back. the whole experience and how she casually fluffed it off caused some strain in our friendship and we no longer talk. i can't stand irresponsible people and i can't stand people that walk away from debts that they actually owe.

    as for electricity being gone for several days - we experience that here all the time. for us, we are amazed when we have electricity - bahahahah! and we do just fine. we melted snow over a fire in order to fill a bin to be able to bathe in, wash dishes in, flush the toilet, etc. during the freakin winter! we plan on building a true and proper out-house this summer to use during summer months. but hey - we are hillbillies all the way!

    rant over. your friend,

    1. Not a rant at all!
      Our first loan was not conventional, we had father in law co-sign and hold a $50k note just so we could qualify. We worked our ass off and 2 years later we refinanced and paid off the $50k note and moved into a conventional 30 year mortgage. We had $20k in pre payment penalties but we sucked it up and never looked back, we just knew if we didn't do the conventional loan something would happen and the rate would go up, etc. It was the right thing to do, so we did it.

      When we moved to New Hampshire I learned what hard work was and I was only 5. No power, water from a well into buckets, outhouse, firewood, etc. This continued for 6 years or so until we got power, nothing else changed. We did put a storage tank inside than gravity fed 2 sink faucets, but you still had to fill that with a 5 gallon bucket.

      I certainly have electricity and modern conveniences now, but it's appreciating them each time that makes the differences.

  3. after the "collapse" you can hit the road looking for twinkies like in zombieland ;-))