My husband and I closed on our first home in February 2007, about seven months shy of the real estate peak. When the bubble burst, we quickly became desperately upside down in our mortgage. We had financed using an 80/20 split between an interest only ARM and a loan modeled after a 30 year fixed but with a balloon payment at the end of a five year term. At first, I didn’t comprehend the severity of the situation, but by the start of 2009 we were $50k underwater, and home values were still decreasing. Add to that car loans, student loans, credit card debt and a household income of $70k – I’m sure it’s no surprise that we began freaking out. We had to make a firm commitment to improve our finances because we ran a serious risk of defaulting on our loan. Continue reading
You all know I’m on a journey to affluence, as I like to call it. On this journey I’m learning just how much my upbringing has programmed me to believe that financial wellbeing is the result of hard work. Yet through practicing the law of attraction, I’ve been presented evidence time and again that it’s alignment with my goals and inspired action which deliver the greatest results. Even so, I can’t seem to shake the feeling that I have to fight hard for what I have.
Have you ever felt inspired to do something and time seems to dissolve when you get to work on it? Not only do you get into a zone, but you also feel hypnotized by the work underway. I’ve experienced this countless times in my life. It started in school when doing science homework, usually leading to “a-ha! moments” when a complex lesson rooted into my understanding. While I no longer study physics, I still experience this high-flying sensation when working, considering philosophy, and while writing.