This week's financial report is full of good news!
Minicon was a boost to donations, auctions are running well, and most-importantly, we have daylight! That is, the amount already collected, plus the high bids on running auctions have gone past the amount that I know we'll have to pay to reinstate the mortgage. There are still some things that I don't know, like what the legal fees involved will be. My goal now is to find that information out this week. This means calling the bank's lawyers and continuing to call them until they respond, the buggers! With that information in hand, we'll be able to build a strategy for stopping the sheriff's sale.
Thank you so much everyone!
You have given me so much hope in such a bleak time over the last couple of months. Keep it going! Keep bidding on auctions! (I'll be making the Monday Morning Auction Round-up post in another hour or so.) There's a lot of good stuff still on offer with low or no bids. There's also some very cool stuff that you still have time to bid on. Remember: all auctions close noon Central time, April 25!
Now for the nitty-gritty money details
Money market account balance: $6,360.00
Remaining PayPal balance: $3,206.69
High bids on running auctions: $2,361.00
Cash/Checks in hand: $558.01
Total donated and known coming in: $12,485.70
(Total from last week: $11,693.75)
Known amount needed to reinstate our mortgage: $11,306.26
Amount available to apply to legal fees, etc.: $1,179.44
(Amount of one-month's mortgage: $1,538.00)
Total cash readily available: $10,124.70
(Parenthetical amounts for reference purposes for those interested.)
So with over $10,000 readily available (just needs some PayPal transfer time and a trip to the credit union) I think I'm in a very strong negotiating position with the bank holding my mortgage. Once I get the legal fee number, I'll see what I can do about stopping the sheriff's sale without involving the lawyers, if at all possible.
I received my first regular pay-check from the new gig so I know that my normal take-home pay from them will be $1,217.06 per check or roughly $2,400 per month. With the money coming in from me being Ericka's PCA generally being enough to pay the rest of our bills, that should make the bank fairly comfortable about my ability to continue to pay the mortgage.
What gives me the most hope, however, is knowing that over 230 people have donated to help me and Ericka. And more folks donated items for auctions that have raised so much. You people are awesome and you have made a dramatic difference in our lives. Our family will have a place to live because of you; I have no doubts of this now.
Just another week, folks! Let's make it a good one!
Save Peter & Ericka's Accessible Home
- State of affairs