David Streitfeld was a fabulous interviewer, and I had a great time "sitting" for the piece. Mom, Christy, I’m not going to lose my house — I hope for equity and cost-of-living raises. But David does raise some good questions about the newness of these interest-only loans. I live in hope, however. You know me. And I have a door and a key to it that I call my own.
**added later: I will admit that I was not going to blog this, because I did NOT want my family to read it and get scared. They’re already tripped out that I have so much debt. But I got a call this morning from my mother saying to go out and buy the paper, "you sneaky kid," and she had seen it because her neighbor called her and told her about it. She then called the sisters, who called me. I think they were just stoked that there was a picture of me in there. And that’s good.
It comes down to this: I make enough money now to make the mortgage. In a few years, hopefully I’ll have made enough equity to refinance and change terms. If not, it’ll raise by 2% plus principle payment, and I’ll have to get rid of TiVo, cell phone, all extraneous yarn purchases (gulp), but I’d still be able to make it. And honestly, before David interviewed me, I’d had my head so far in the sand that there were grains in my bellybutton. I didn’t want to know what the rate could raise to, I didn’t want to know how high my highest payment could be — and it’s true, I would have signed anything. But now I know. It’s scary, but it’s do-able. Facing fears feels good. (Although turning away from them feels just fine mostly, too….)
It’s a cold, windy day here, and we just went on a walk through Mills College with the dogs, who romped all over the old grounds. It’s lovely. Later, The L Word with friends and knitting, in my little house. Happy.
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