Abort mission...

So after a long talk with the hubby last night we have decided to put off our quest for a consol loan for about 6 months or so. Some of you are probably confused as to why we would choose to do this, but there are three very good reasons why.

1.) The economy. Yes, I am sure everyone is sick of hearing about it, but while banks are on the defensive we are likely to get less than we desire, if anything at all. Plus, unless they simply give us a straight up "No," we are looking at a senseless credit check on our credit report (which we don't need if it will not be fruitful), and we might send up some flares about our mortgage (which we are fine with, but hey why call attention to ourselves). In this respect, we have decided to wait until some of the panic has subsided and the bank may be more likely to "play ball," so to speak.

2.) We will have a little less debt to come to the table with. Yeah, I know 6 months is not going to be a huge difference, but if we are already waiting, it is a benefit.

3.) My hubby's new job does not start until the new year, and with no way to substantiate the potential income until he starts making some, it will not be a good bargaining tool. If we can have a track record of his income (even for just the first quarter of the year), it will be a stronger argument as to why we should be granted the loan. Based on projections, this could be a major factor in how much we get.