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January 26th, 2017 at 02:18 pm

I currently live 30 hour drive from where my family and friends live. Lets call this Home Base.

My house that I own(Still have a mortgage, so I guess the bank owns), is Home Base. In other words 30 hours from where I currently live. So why is this? I was given a job here. This job pays pretty well, and I love the work I am doing. I do hate being away from my friendship group back at Home Base though, so at some point I will be moving back to Home Base.

I currently have 2 fellows renting the house(Home Base). They actually rent rooms, not the house, so I can move back anytime I want. This covers the cost of the mortgage payments. I pay Utilities, Property taxes, and Insurance from my paycheck.

I am renting a room where I currently work, for a very small amount. Living expenses are minimal.

Under current conditions I am paying off approximately 12 weeks of my mortgage per month(4 weeks from normal payments, 8 weeks from the extra payments that I am putting towards the principle). I also am putting away enough to live for 1 more month with no paycheck each month, so that if at some point I lose my job, or I decide to move back to Home Base, I will be okay.

I am considering getting work back at home base. I might be force to accept minimum wage, which would just barely cover expenses. Which tells you how much I miss Home Base. There is also a penalty of $3000 dollars I would have to pay to my current employer, as this is the amount of money that they gave me for moving expenses, has to be paid back if I do not stay more than 3 years working here. Steep financial penalty to the idea of moving back to home base.

Current plan is to work for at least 6 more months here, probably going to make this more like till end of December. Will be thinking on this one over the next few months. Who knows I might decide to keep working here, only because it is allowing me to pay off such a large chunk of my mortgage.

4 Responses to “More Information”

  1. creditcardfree Says:

    Thanks for the information on your situation. How long have you already been working out of the three year committment? How long would it take to pay off mortgage at the rate you are currently going? Are you able to fly back to visit with some frequency? My first thought is that keeping the job, but getting back to your home base as often as financially possible could make keeping the job worth it for at least that time frame. I do understand it is hard to be away from family and friends!!

  2. Carol Says:

    CCF has a good idea. Or maybe pay the mortgage a little slower to have money for the flights.

  3. Slow Progress Says:

    I have only been here since the beginning of July 2016. I will lose contact with friends to a large extent if I stay until the 3 year period is up, not sure I want to make this sacrifice for money. This is not the first time I have lived away from family. The friends that I reconnected with when I did move back the last time are ones that became very precious to me, and I do not want to lose connection with.

    Under current estimate of conditions(pay off rate) I would have my house totally paid off 6.5 years from now.

    I could also get a job that is better than minimum wage back at Home Base. I would still be able to accelerate payments given this fact. I really am in a career that allows me to work lots of places. Just that the job market has not been kind to me lately back there. Truthfully nothing wrong with minimum wage, due to having the two fellows renting off of me I can cover the rest of my expense on what I could make at minimum wage rates. Under minimum wages it would take 18 years to pay off mortgage, saying no more extra payments, starting today.

  4. Slow Progress Says:

    Flights home are possible, but only a couple times a year. Most likely can only make it home once a year. Have very limited vacation time. The job is in the U.S., where companies are not very generous with vacation days.

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