Wednesday, July 22, 2009

the bank always strikes twice.

Just got a letter in the mail from the bank that holds our Home Equity Line of Credit--our account has been frozen (no longer able to draw money out) due to a decrease in housing values in our area. Um, yeah. Aren't home values decreasing just about everywhere? And how does this impact my ability to pay on a loan that is owed?

This has happened to us before, believe it or not. Last year, when we were just about to pull the trigger on the kitchen project, we were informed that the HELOC we had for 5 years (and never used, I might add), was being closed due to home value decreasing. Okay, fine. We just went and got another one without a problem.

Fast forward to now. We haven't used the entire HELOC amount we were approved for and had no intention of doing so. We didn't ever use it like an ATM--we used it for the remodeling of our home only, figuring that we would get the value out someday (like 20 years from now). I needed to get a little more out of it to pay a no interest for one year purchase at Lowe's--a bill I hadn't been paying (because it isn't due until November) because I had been sinking all I had into paying off the HELOC. Now I have no way of getting the money I needed to pay that Lowe's purchase off and I haven't even made headway on it because I figured that I should pay the loan with interest first.

And to top it off, the freeze was effective on July 17. Yep, got the letter today. Would've been nice to know on the 17th. This is such a wimpy way out for these banks--they force us to go electronic on everything but if there is something negative to report (canceled account, bounced check), they send it snail mail thus ensuring they have at least 5 days in between the event and you finding out about it.


Friday, July 10, 2009

a few of my favorite things...

I haven't been blogging much lately because I have been a cleaning freak. When Ethan had mono I spent the week cleaning and organizing closets, my scrapbook room, my laundry room, etc. It was so satisfying! I found a couple cool things that I am loving right now so at the prompting of my sister, here they are!

1. Shoe organizer

I found this at Storables but they also have it at the Container Store (my favorite store!!). I got it in chrome but this one (in bronze) is on sale now for $20! It holds 18 pairs of shoes and each tier spins so you can find what you are looking for easily. Plus my kids think it is fun so they actually put their shoes away!

2. Closet rod dividers

Some might say this is the pinnacle of craziness but I think it is amazing! I got these at the Container Store for 99 cents each. I wrote on them with dry erase marker and organized my closet. I have categories for tanks, short sleeves, cardigans, hoodies, pants, dresses, skirts, etc. You get the idea. It not only helps me find things, it also helps me put clothes away--there is a hanger in place for everything!

3. SIGG water bottle

I have two of these--one is 20 ounces to take out with me and the other is 33 ounces to keep at home. I love the way tap water tastes out of these! I keep them in the fridge filled up so they are nice and chilly. Plus, you don't have to worry about any gross chemicals leeching out into you water. And you can wear your ecofriendly badge proudly when carrying one around. :)