I realized last week that I neglected to inform you all on the status of my home equity line request last month. Unfortunately, I was declined. The bad news: our loan to value amount is too high. The good news: I got my credit score, and I'm happy to report it's currently at 696. I was in shock! I've never been so close to 700 before. If I had a small business, it's be a breeze to get a small business loan and use that to pay down my debt. Then again, if I had a small business, my debt would surely be higher and we'd have other problems to deal with.
There's nothing more we can do but wait (im)patiently for the housing market to stabilize again so our value goes up, and the loan to value ratio widens. In the meantime, we're keeping our heads above water by spending wisely and cutting costs.