Montana Owners Club - Keystone Montana 5th Wheel Forum - View Single Post

dsprik · 08-01-2005, 09:02 AM

Good point! Great input!

I am going to get humble myself for a moment (don't tell my wife ~ she'll think I'm off my medicine ~ or on the wrong medicine).

My credit is poor. I lost a house to foreclosure three years ago. A legal battle with a bank on a primary residence mortgage cost residual damage on a second home. Even though we won the battle (war) by quick claiming the primary house back to the bank plus a small cash settlement (the bank took a $220,000 loss), we were financially devastated and could not save the second home before we could sell it. Our attorneys took steps to prevent any negative credit of the primary mortgage holder, but the foreclosure issue on the other house was unavoidable. Over the two year legal battle, we went through all of our savings and I had to cash out my entire stock portfolio.

We are currently renting. We do have a GMAC loan on my wife's blazer, but that was obtained prior to our credit scores taking a nose dive. We have a couple of small consumer loans that we are paying off (We had five weddings in five years. Fortunately only three of them were daughters, even though we did help our sons out a little), but the bank there told me last week that they would not go more than 7 years on a new RV and 3~5 yrs on a used one. They like high payments ~ I don't.

This year I have had a unusual year. I am a teacher and I had an assignment switch after 17 years. It turned out to be a nightmare adjusting. On top of that, I had three shoulder surgeries on my rt shoulder trying to repair a rotator cuff (after the first one I developed an infection and slept on the couch in an upright position for 3 months). They have now determined that it is unrepairable and I'll have to learn to live with the limited motion in that arm (I'm right handed). My left shoulder is due for surgery Sept 8. This spring, one week after my 3rd surgery in 11 months, I developed alot of internal bruising down my rt arm and rt side of my chest. Before I could get into the doc's office, I developed fluid in my lungs, which I have never had in my life. During the second of three ER visits in four days, they did a CAT scan of my lungs and found a mass on my rt kidney.

Now up to this point in my 53 years, I had been doing great. Going to teach until I'm 62!.

Not now. My Dad retired from teaching at 62. My Mom (also a retired teacher) had already begun the early stages of dementia. She is still alive, but my Dad had tears in his eyes this past weekend when he started telling me all the things he and mom had planned to do after retirement and now will never be able to do them. My wife's Dad retired from GM after 40 years and his wife suffered a debilitating stroke within a year and ended up in a medical care facility until her death in 2000. He passed away three weeks before her in the same facility. No retirement days.

I don't think I need to be struck by a bolt of lightning here. I will retire at 55. I don't know how yet, but it WILL happen. We are doing research and saving money. We are moving to a smaller house to save money on the rent. My wife and I are in good health right now. I can also be a workamper as needed. I could substitute teach a couple days a week (after taking whatever state's test I need to) and my wife, who manages a small resturaunt could wait tables part time if necessary.

Any suggestions, comments, help is much appreciated.

Thanks,
Dave

08-01-2005, 09:02 AM	#11
dsprik Montana Master Join Date: Jul 2005 Location: Fort Myers Posts: 5,933 M.O.C. #4282	Good point! Great input! I am going to get humble myself for a moment (don't tell my wife ~ she'll think I'm off my medicine ~ or on the wrong medicine). My credit is poor. I lost a house to foreclosure three years ago. A legal battle with a bank on a primary residence mortgage cost residual damage on a second home. Even though we won the battle (war) by quick claiming the primary house back to the bank plus a small cash settlement (the bank took a $220,000 loss), we were financially devastated and could not save the second home before we could sell it. Our attorneys took steps to prevent any negative credit of the primary mortgage holder, but the foreclosure issue on the other house was unavoidable. Over the two year legal battle, we went through all of our savings and I had to cash out my entire stock portfolio. We are currently renting. We do have a GMAC loan on my wife's blazer, but that was obtained prior to our credit scores taking a nose dive. We have a couple of small consumer loans that we are paying off (We had five weddings in five years. Fortunately only three of them were daughters, even though we did help our sons out a little), but the bank there told me last week that they would not go more than 7 years on a new RV and 3~5 yrs on a used one. They like high payments ~ I don't. This year I have had a unusual year. I am a teacher and I had an assignment switch after 17 years. It turned out to be a nightmare adjusting. On top of that, I had three shoulder surgeries on my rt shoulder trying to repair a rotator cuff (after the first one I developed an infection and slept on the couch in an upright position for 3 months). They have now determined that it is unrepairable and I'll have to learn to live with the limited motion in that arm (I'm right handed). My left shoulder is due for surgery Sept 8. This spring, one week after my 3rd surgery in 11 months, I developed alot of internal bruising down my rt arm and rt side of my chest. Before I could get into the doc's office, I developed fluid in my lungs, which I have never had in my life. During the second of three ER visits in four days, they did a CAT scan of my lungs and found a mass on my rt kidney. Now up to this point in my 53 years, I had been doing great. Going to teach until I'm 62!. Not now. My Dad retired from teaching at 62. My Mom (also a retired teacher) had already begun the early stages of dementia. She is still alive, but my Dad had tears in his eyes this past weekend when he started telling me all the things he and mom had planned to do after retirement and now will never be able to do them. My wife's Dad retired from GM after 40 years and his wife suffered a debilitating stroke within a year and ended up in a medical care facility until her death in 2000. He passed away three weeks before her in the same facility. No retirement days. I don't think I need to be struck by a bolt of lightning here. I will retire at 55. I don't know how yet, but it WILL happen. We are doing research and saving money. We are moving to a smaller house to save money on the rent. My wife and I are in good health right now. I can also be a workamper as needed. I could substitute teach a couple days a week (after taking whatever state's test I need to) and my wife, who manages a small resturaunt could wait tables part time if necessary. Any suggestions, comments, help is much appreciated. Thanks, Dave