I called Jack after my little panic attack this afternoon over the scary mortgage stuff and reading a bunch of articles about the crazy real estate market going on right now. He has a lot of co-workers who know a lot about this stuff. One of them got on the speaker phone and listened to my/our concerns and gave us some advice. No, we didn’t get the best loan we could have, but we aren’t screwed either. We just need to wait a couple years then refinance. We aren’t in jeopardy of losing our house especially since we are stable and have never been late on a payment. In fact we usually pay more than we’re supposed to. So I feel 1000 times better now.
Ever since my job ended, I just have too much time to think. And having too much time to think means I also have too much time to worry. I worry about our future more and I worry about our finances. But that’s normal after going from a two income family to one I think. I’ve been thinking of trying to do another home based business to bring in more income and keep me at home, but I don’t want to get into anything that would put any strain on our finances. We worked to hard to get where we are now, so I really don’t need any more to worry about. I’m glad to know that at least for now, we don’t have to go out and refinance early and pay penalties for doing so. We can just sit tight and watch the market and take the opportunity to learn. So that’s my plan for now.
[tags]mortgage, mortgage crash, home loan, mortgages, real estate, finances[/tags]