Deleted
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Post by Deleted on Apr 2, 2013 15:01:08 GMT -5
<Beth is thinking that Iggy's avatar is surprisingly appropriate for this thread. But that's because I don't have the guts to jump without a safety net.> If the sole breadwinner in my house jumped without a safety net, he's be the missing breadwinner. ![](http://images.proboards.com/new/angry.png) Dark, I hope it all works out wonderfully for you, but if I were Loop, you'd be shark food by now. ![](http://images.proboards.com/new/shocked.gif) for real!
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Iggy aka IG
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Post by Iggy aka IG on Apr 2, 2013 15:01:18 GMT -5
<Beth is thinking that Iggy's avatar is surprisingly appropriate for this thread. But that's because I don't have the guts to jump without a safety net.> ![](http://syonidv.hodginsmedia.com/vsmileys/yeahthat.gif) I only did that once in my lifetime, but, I don't have kiddos to provide for.
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Sum Dum Gai
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Post by Sum Dum Gai on Apr 2, 2013 15:04:41 GMT -5
Kind of. He focused on a slightly different niche, but he is doing government IT contracting. I called him yesterday.
I don't know, and that depends. We cancelled cable yesterday. I stopped all our charitable donations (which weren't much anyway). Loop deferred her student loan. I'm trying to see if we can do a rate reduction refi on the house without an income verification. We told the kids we'll be scaling back for a bit. Looking at the new budget we need at least $2,700 a month (most of that is the mortgage). Loop grosses right around $2k a month. We're short basically $1k + health insurance every month. That's what I have to replace immediately.
We have around $40k in private stocks that could be liquidated. We have another roughly $100k in retirement accounts that we could cash out if we absolutely had to. We can stop paying the mortgage and live here rent free until we get evicted, that would buy us 6-12 months of being able to live on Loop's salary. If we liquidate everything and lose the house I don't need to work for another 5-7 years.
Realistically if I don't have some income in a few months nobody will ever find my body.
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Iggy aka IG
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Post by Iggy aka IG on Apr 2, 2013 15:06:59 GMT -5
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midjd
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Post by midjd on Apr 2, 2013 15:08:28 GMT -5
Would a foreclosure affect your security clearance? (If not, I wouldn't make another mortgage payment til you find a job.)
Do you plan to stay in the area? If you're not tied to your employer or even that particular industry, it might be a good time to the house (and expensive mortgage) and relocate somewhere cheaper. Not sure how sales are in your area (Bonn?), but they've picked up significantly here - you may even make a profit.
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brdsl
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Post by brdsl on Apr 2, 2013 15:08:41 GMT -5
Balls buddy....balls.
The day everyone waits for, but when they see someone else do it....all you can do is admire, and yet, like a train wreck, can't turn away.
I know your in IT, but not sure what area.
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shanendoah
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Post by shanendoah on Apr 2, 2013 15:14:26 GMT -5
If the sole breadwinner in my house jumped without a safety net, he's be the missing breadwinner. ![](http://images.proboards.com/new/angry.png) Dark, I hope it all works out wonderfully for you, but if I were Loop, you'd be shark food by now. ![](http://images.proboards.com/new/shocked.gif) for real! See, I am the sole breadwinner, and I'm about to be out of a job (though I did not quit). I think as long as he and Loop are on the same page, things should work out. It does mean (to me) that if they aren't going to go out on a limb and start their own business now, that both of them should be looking for benefit providing employment.
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Chocolate Lover
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Post by Chocolate Lover on Apr 2, 2013 15:15:47 GMT -5
See, I am the sole breadwinner, and I'm about to be out of a job (though I did not quit). I think as long as he and Loop are on the same page, things should work out. It does mean (to me) that if they aren't going to go out on a limb and start their own business now, that both of them should be looking for benefit providing employment.
Yeah, but you're getting a nice severance package. ![](http://images.proboards.com/new/wink.png)
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Deleted
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Post by Deleted on Apr 2, 2013 15:17:16 GMT -5
I say it's a belated April Fool's Day joke.
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Opti
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Post by Opti on Apr 2, 2013 15:20:21 GMT -5
I'm curious about your back and health insurance. If you did indeed quit yesterday and had a doctor's appointment yesterday they may have made yesterday your last effective date for health insurance. Given the hospital costs, I'd be a bit nervous about those bills that insurance hasn't paid yet.
I'm still waiting for Loop to post.
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Deleted
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Post by Deleted on Apr 2, 2013 15:21:21 GMT -5
Well, everything happens for a reason and subconsciously, this is exactly what you want so that you HAVE to be the business owner you want, right? I mean, obviously, you have options of getting back on with other agencies / employers, but this could be the opportunity you've been waiting for. Good luck to you and your family either way! ![](http://syonidv.hodginsmedia.com/vsmileys/thumbsup.png) My kinds of lady or man. ![](http://images.proboards.com/new/wink.png)
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Sum Dum Gai
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Post by Sum Dum Gai on Apr 2, 2013 15:22:52 GMT -5
Not right now. She's on a 3 month temp to hire type contract. When she goes to permanent employee we could get health insurance through her employer.
I don't know, but I'd like to be done working for other people. I get bored too easily to shut up and color for 40 years then retire. It's just not me.
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midjd
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Post by midjd on Apr 2, 2013 15:24:09 GMT -5
Would a foreclosure affect your security clearance? (If not, I wouldn't make another mortgage payment til you find a job.)Do you plan to stay in the area? If you're not tied to your employer or even that particular industry, it might be a good time to the house (and expensive mortgage) and relocate somewhere cheaper. Not sure how sales are in your area (Bonn?), but they've picked up significantly here - you may even make a profit. Mid! That's crazy talk! There is no reason to trash their credit. Maybe later, but not out the gate. I posted before I saw that he had $40K he could liquidate... but still, it should take a few months of missed payments before there's even a late-payment ding on their credit reports. Probably another year to foreclose (and if he can pay off the arrearage before the bank files, it's unlikely their credit will be very affected). Not the greatest option, but something to consider. I know I'm biased because of my job, but I've seen so many people cash out their retirement accounts to throw money at a house they end up losing to foreclosure anyway... in 99% of cases they'd have been better off to hoard that cash and move after the complaint was filed. I'd trash my credit and go to foreclosure before I ever thought of touching retirement. OTOH, it's a VA loan, right? Will that affect his daughters' college benefits? Seems like I read that before.
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973beachbum
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Post by 973beachbum on Apr 2, 2013 15:26:23 GMT -5
I'm curious about your back and health insurance. If you did indeed quit yesterday and had a doctor's appointment yesterday they may have made yesterday your last effective date for health insurance. Given the hospital costs, I'd be a bit nervous about those bills that insurance hasn't paid yet. I'm still waiting for Loop to post. no way! if dark has paid his monthly premium, he is covered for the month. They can't just cancel what's paid for. What is the rule for cobra when you walk out? I've taken cobra after quitting, but not sure if a place has to let you. No they can't not let you. If he lost coverage for any reason he can sign up for cobra. Normally coverage ends at the end of the month that the employee terminates in though so it is possible they have coverage until april 30 though. After that he would need to bite the bullet and pay the big bucks for cobra.
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Deleted
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Post by Deleted on Apr 2, 2013 15:31:53 GMT -5
Not right now. She's on a 3 month temp to hire type contract. When she goes to permanent employee we could get health insurance through her employer. I don't know, but I'd like to be done working for other people. I get bored too easily to shut up and color for 40 years then retire. It's just not me.That's great point that you are making. Dark. Least you knows of your weakness and strength. And you are young enough ,smart enough to start to new again.
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Virgil Showlion
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[b]leones potest resistere[/b]
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Post by Virgil Showlion on Apr 2, 2013 15:39:42 GMT -5
They call her 'loop' because she can rig up a hangman's noose faster than you can say her name. ![](http://images.proboards.com/new/wink.png)
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Deleted
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Post by Deleted on Apr 2, 2013 15:40:50 GMT -5
@midjd
I did a quick check on some military Q & A sites and the only thing a VA foreclosure is going to affect is his ability to buy VA. He will lose his eligibilty to ever have a VA loan. While the VA loans don't have the greatest rates, they are one of the few 0% loans. I wouldn't want to ever lose that option unless I absolutely had to.
My concern for Dark right now is that his background is DOD related. Between the furlough and the sequestration unknowns I think employers in the defense industries are going to be very careful about taking on new employees.
I hope everything works out for them. Paying for insurance out of pocket for a family is going to be really expensive. We're paying close to $1k month. I know we're old farts at 54 & 51 but there are 4 of them.
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Deleted
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Post by Deleted on Apr 2, 2013 15:42:20 GMT -5
Sell the house, buy a van and just start driving. Hilariousness is sure to ensue.
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Opti
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Post by Opti on Apr 2, 2013 15:52:43 GMT -5
"no way! if dark has paid his monthly premium, he is covered for the month. They can't just cancel what's paid for."
Actually my thought is he probably hasn't paid his insurance premium for April as usually it gets deducted in the same month. I've never worked for the federal government so I could be wrong, but I remember in 2009, that my employer planned layoffs to happen on a Thursday either the 7th or the 9th because Friday would have been the deduction for insurance. He quit on April 1st, a Monday, so I'm thinking no April coverage or just until April 1st.
Cobra is always an option, but it is wickedly expensive.
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greeniis10
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Post by greeniis10 on Apr 2, 2013 15:54:32 GMT -5
Well, everything happens for a reason and subconsciously, this is exactly what you want so that you HAVE to be the business owner you want, right? I mean, obviously, you have options of getting back on with other agencies / employers, but this could be the opportunity you've been waiting for. Good luck to you and your family either way! ![](http://syonidv.hodginsmedia.com/vsmileys/thumbsup.png) My kinds of lady or man. ![](http://images.proboards.com/new/wink.png) Thanks, Snowbird!
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Queen of Interesting Nuts
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Post by Queen of Interesting Nuts on Apr 2, 2013 15:54:37 GMT -5
Cobra is only retro active for three months I believe. That's the window. What that means is at any time during the three months you decide to use it ( mostly because you need it) you can and pay the premiums to date.
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Sum Dum Gai
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Post by Sum Dum Gai on Apr 2, 2013 15:55:12 GMT -5
Hilariousness or serious bodily harm... definitely one of the two.
When I came home yesterday told her that I quit because I found this great alpaca ranch for sale near Yosemite, she didn't think it was as funny as I did.
Bonny is right about the VA loan. If we go into foreclosure I lose my VA loan eligibility for life. It doesn't affect any of my other veteran's benefits.
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Deleted
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Post by Deleted on Apr 2, 2013 16:02:10 GMT -5
Did she think you were playing an April Fool's joke on her? Did she hurt you when she realized that you weren't joking? ![](http://images.proboards.com/new/shocked.gif)
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Deleted
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Post by Deleted on Apr 2, 2013 16:12:13 GMT -5
Usually what I do when I don't like my job is find another and then quit. ![](http://images.proboards.com/new/shocked.gif)
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Sum Dum Gai
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Post by Sum Dum Gai on Apr 2, 2013 16:24:49 GMT -5
At first, yeah.
Surprisingly, no. Not yet.
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Chocolate Lover
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Post by Chocolate Lover on Apr 2, 2013 16:25:12 GMT -5
Yet is the key word........ ![](http://images.proboards.com/new/wink.png)
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Sum Dum Gai
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Post by Sum Dum Gai on Apr 2, 2013 16:27:35 GMT -5
No I really quit. Packed a few things from my desk into a box, shipped back my laptop, got my out-processing security briefing, turned in my CAC card and office key, the whole deal.
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Deleted
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Post by Deleted on Apr 2, 2013 16:30:42 GMT -5
Yet is the key word........ ![](http://images.proboards.com/new/wink.png) Shock...she's in shock.
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mmhmm
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Post by mmhmm on Apr 2, 2013 16:41:12 GMT -5
Sometimes, we gotta do what we gotta do. I hope things work out for you and that you find something that will challenge you, and you will enjoy.
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mmhmm
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Post by mmhmm on Apr 2, 2013 16:55:31 GMT -5
I'm glad you contacted your friend with the new start-up. Maybe he'll have something that will be right for you. There's usually a lot to do in a start-up. I've always loved working them ... though you and I are in vastly different fields. Still, there's something exhilarating about building something from the ground up with people you enjoy working with you.
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