Thursday, June 3, 2010

New Mortgage Numbers

The new mortgage payment numbers are out today. For our house mortgage, each payment is going up $5.20 and for the ski condo, $1.69. Not bad and not too much of a shock. We can handle this. Our amortization stays the same.

Remember we have the type of variable mortgage where we cannot lower our payments when interest rates go up. Not all variable mortgages behave this way. When the media is trying to scare people, it is this type of mortgage they commonly refer to.

The real estate hunt for potential new offices was very successful. We saw 7 and about 3 worked and 1 was a stand out. It also was the one that required leasehold improvements. At lease I know what my options are. I have someone working on a quote and time frame for the renos. Meanwhile, I am still developing my home office option.

I am not worried about my meeting today. Why? Because I am going in there and telling the truth about what will and will not work for me anymore. I'm no neophyte in this business and I do not appreciate being treated like I need them more than they need me.

D feels I should dump the idea of a counteroffer and just give my notice. I think I'll know by the tone of the conversation how it will go. So it will be a game time decision. Either way, I'm starting to get the feeling I will not be going to BA in 3 weeks.

4 comments:

  1. I agree with you & hope it works out in your favor. There's no point trying to bend over backwards; no point staying if it doesn't work for you.

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  2. I'd rather be sailingJune 3, 2010 at 8:27 PM

    Wow... go away for a week and look what you miss. Sorry to hear about the turmoil you're having at work.

    I know I'm too late as your meeting was earlier today. I would have suggested offering the following:
    - will renew lease but for 3-6 mos (buys you more time to consider options and may allow you to save your trip to BA)
    - not commit to renewal at this time; rent mo to mo at the increased rate: after all do they have someone ready to assume the space at the increased rate for a long term?

    Look forward to seeing what you eventually decide on.

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  3. Hi Sandra & I'd rather be sailing!

    Surprising turn of events. I'll cover it in my next post. Thank you both for your support!

    Great renewal advice. I've written it down as it is still very relevant right now.

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  4. PS. @ I'd rather be sailing;

    No, they don't have anyone lined up to take over my space. I pay rent based on a percentage of my earnings -- it's complicated and likely non conventional. That's why they are thinking they can pull something like this. In truth, they have taken a big gamble.

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