Three in a Row

Just as I thought that bringing the title to the bank will help alleviate the problem, another snag is hit! My papers are put back into evaluation again for some reason. It has already been two weeks since I submitted that title and up until now, we’re still waiting. Essentially, my home loan is in limbo. I only have until tomorrow to have it approved or else, I’ll be on deeper trouble. The proceeds would have been allotted to some of my creditors and to Mrs. F.

That’s just the first. The second one is the fact that I can no longer file for a loan with AIGPA Bank, a sister company. They are just offering the loan for employees and there’s a clause that once you resign, you’ll have to pay off the loan. Whaaat!!!??!!! There goes another hundred grand for one of my creditors.

And the third? I was expecting loan to be filed by my cousin. It was all set until the bank disapproved it because the title isn’t on his name, yet. So it would be some time until he’ll be able to transfer lot on his name. That’s just another grand for yet another creditor.

What else could go wrong!

To The Bank, At Last!

I thank God for this special day. It’s not just any other day that I always thank Him for because today, God has allowed the person to whom we pawned our house, to lend us the title so that we could finally submit it to the bank. To convince that person is a real tall order. Let’s call that person as Mrs. TF.

As a matter of fact, I had to execute a promisory note that I shall deliver to her a replacement title(my sister’s) just to convince her. On top of that, she has the passbook of our joint account where the proceeds of the loan will be deposited.

Handing the title to the bank is a win-win solution for all of us concerned. To itemize the benefits, they are as follows:
1. The bank will release the loan proceeds in staggard basis. That means we will receive some money that we will use to pay Mrs. TF. On the other hand, we can use some of the proceeds to continue work on the house.
2. Since we can continue to finish the house, we’ll have chance to receive the full amount of the loan thereby allowing us to pay completely Mrs. TF. Even if we don’t completely finish the house and just enough to make it to the 90% level, at least the house would already be livable.
3. When we pay Mrs. TF, we’ll no longer pay exorbitant interest rate. That’s a big relief.
4. Most importantly, I’ll only have to pay PHP30,000+ monthly for ten years. We’ll no longer have to worry that Mrs. TF will get our house.
5. The loan is insured. If I die, my family will no longer have to worry on how to pay the house. That’s already covered by the insurance as well as fire insurance.

In two to three year’s time, I plan to transfer the loan to PAG-IBIG. I hope I’ll still have that chance. But there’s still a big problem… how to get the other title.

With God’s help, I know we’ll get it. I’ll buy a lotto ticket tonight.

Crossroads and Roadblocks

It’s a tough decision ahead. I’m on a crossroad.

My plans on working in Singapore suddenly hit a snag lately. First, there’s this POEA Memorandum on Direct Hire and then the US subprime crisis which could lead to recession. What on earth do these things have to do with me? Well, I thought there’s none until my prospect employer suspended their hiring. Talk about great timing.

On another hand are the other offers from the companies I applied in. My asking price is just above the average. What can I do? I can’t sacrifice my career here for a small increase in my paycheck. The main reason I want to go to Sing is to earn more, not simply for career advancement(though that’s part of it, admittedly). I don’t want to sound like a braggart but SGD4000 doesn’t really appeal to me because with the high cost of living in that city state, only a small amount will be left. So I have to wait for better offer.

What’s difficult here is that the management of my current employer is waiting for my decision. I’ve already told them my plans and though they understand my situation, I need to decide on whether I’ll go ahead or stay. It’s an important decision as they need it in the planning. It’s not like the company depends on me but on our setup, everybody is important. No one is indespensible but everyone matters. The company has been very good to me, I must admit. I cannot hang them in a balance.

Going to Sing is a big decision. It’s probably one of the biggest, if not the biggest, decision in my life. There’s a lot of things at stake and in the next two weeks, I have to make a final decision. I hope to God that he enlighten me and I ask you to pray for me. I know God has a reason for all these.

Hope is not a Course of Action

I saw the title of this post from a blog and it hit me hard. If you think of it, hope is not really a course of action. It’s actually an inaction but wether we admit it or not, we hold on this on dire situations. It’s not bad to hope but what’s wrong with it is the tendency to sit back and wait for will happen.

I must admit that I do have that tendency. Not sounding to defend myself, there are times that I don’t know what to do and the only option left for me is to wait and see. I realized that that’s not really an option because if you will just notice, there are ways to solve problems. You may not solve them all but at least, you’ll cover some ground.

Hope coupled with hard work and prayers will definitely result to something positive. Don’t just sit and wait, we have to do something. In my situation, I really have to work harder and continue to find solutions. It’s easier said than done but I have to. At the same time, we should appreciate all the blessings of the Lord. Trust me, your faith in God will keep you sane.

Where Still At It!

In deep shit, that is! Though we’ve covered some ground in the past month, . The deal with my creditors has given us some breathing space. And on those days, I have immersed myself with lots of work. I also received some money from the office that allo

But it came to a point that the impasse has lapsed. And it did this week. We are actually scheduled to pay the TCT we pawned to a loan shark. We failed. Also, we were supposed to pay 180T to the previous owner of the house. I was able to give him 80T. The other 100T is still hanging in the balance. And there’s quite a number of people either waiting for their interest or full payment of their investment. I can’t pay them, of course.

Before this week, I was actually hoping that the burden will ease somehow. Some clients have already paid like that in Albay who gave 30% downpayment and then one in Bukidnon and another from a clinic that operates in the malls in the metro. But for some reason, we did not receive any part of those. The clinic’s cheque bounced and the rest was not even enough to pay for the company’s debts that matured.

Most of the time, I no longer want to wake up. There are times that I no longer want to report in the office. But I know I must, at least be present in the office even if my mind is wandering somewhere. At home, I just hug my dear wife. That’s all we can do… hug each other and pray hard that everything goes well.

Yes, I’m so depressed.