Well, fellow Fools, I have some pretty good news. I am almost done with my Iraq deployment! My flight kept getting pushed back and pushed back and now I am told I will leave in a little more than a week. I definitely can't wait to be back on US soil. I found a solution to my prior problem about having to sell my house and getting rid of the second mortgage. I am wondering if it is at all possible to do it, though. I have six rent houses that are paid for in TX and I was going to try to put some kind of mortgage on them to pay this 2nd mort off. It will get me a much lower interest rate and I won't have to worry about paying it off all at once. I have recently got my income tax return in and paid almost all of my CC debt off as well as the small loans we have acquired since I deployed. I am now down to 6k in CC debt on one card. I will get that paid off as soon as I get to where I am going. My E-fund is over 2k and it is also going to stay that way until I get settled. The move is obviously paid for through the military and they usually over pay like crazy (1.5k usually) and I usually pocket the diff to make up for gas and rent for the first couple of months. I will use it this time for CC paydown or something because I already have money for that. It really does pay for being organized! I am going to just rent a house because I plan to go to drill sergeant school after I get promoted which will happen within 8 months of me getting settled. It also means, I am going to be stateside for two or three years. HORRAY!!!! Two deployments to Iraq have been heck on the family and I need a little R&R. I hope my next couple of posts are going to be as full of joy and good news as this one! Next post, I will be stateside in my own house. Fare well for a little bit. Apachemech
Great news on the debt paydown! I hope that you are able to clear up the 2nd mortgage situation and sell your house. It sounds like you're making some good progress.Enjoy your reunion!mm
now I am told I will leave in a little more than a week. Hope to be able to say soon, "Welcome home, soldier." If you own 6 rental properties free and clear, then it should be OK to borrow against them. The interest won't be deductible as an interest expense, but it may count as a business expense. How have you been managing these properties from overseas?FuskieWho urges you to stay careful as there have been too many stories about soldiers who would have been home soon...
Thanks, mm, I just got an email from DW and she says its a boy, but from the picture, I can't really tell. Those pictures are always confusing. They did put an arrow on where they said it was a boy and I can see what they are talking about. I am glad I didn't paint the room pink or something. Oh, BTW, I read your post on not feeling uncomfortable about spending money. I go through the same thing when I go shopping for groceries and clothing for DW, DD, and myself.Thanks Fuskie, Progress is going slow, but I can tell we are making it. The answer to your question about managing it overseas: I have a manager do it for me. He does a pretty good job about keeping it rented out, but it costs us dearly. They are just trailer houses, so I hope they are worth at least what my 2nd mortgage is up to. I think things will go great for us. I want to thank you and all the Fools for all the advice about fixing my "learning experiences." All a ya have been a great help.Apachemech
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