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Selling an investment to pay the mortgage

Author's note: This article is part of an ongoing blog about my adventures in the world of alternate currencies.

Over the weekend I did something I didn't particularly want to do, but I felt like I didn't have much of a choice.

January is typically a rough month for us financially because there is a break in pay from my husband's job which converges with the time a number of large annual and semi annual bills come due. Usually this is the month when credit lines get maxed out, utility bills get juggled and we try to just hang on until we can file our taxes and get the refund.

We recently went through a home loan modification process. The loan modification was approved pending successful completion of three trial payments. I happily sent off checks for the first two. And then we bought a new (to us) vehicle, and suddenly I realized that there was no money coming in within the next two weeks for us to make that third trial payment.

The price of Devcoins hasn't been great lately and I didn't have very many to sell anyway, so selling off enough DVC to pay that bill wasn't a good option. I looked around at other investments I had and carefully considered which one of those I would sell. I decided on my ASIC MINER interest. This was my very first investment and I really hated to see it go. ASIC MINER has been a good little stock with a regular weekly dividend, and it recently experienced a little rally. I'd gradually built it up for a while with hundredth shares, then when the price dropped I bought a couple full shares and Bitcoin I spent on that was Bitcoin I did not lose in the CoinLenders debacle.

I sold all the hundredth shares and both of the full shares, basically liquidating my interest in ASIC MINER. I decided to sell the shares because I wanted to hang onto my position over on the Commodity Exchange–the “dividend” is much better, and the GHS price is still low. So I did a simple market sell and got over 1.3 BTC out of it. I sent my BTC over to my Camp BX account and sold them at just a bit higher than the going market rate.

When it was all said and done, my interest in ASIC MINER yielded me over a thousand dollars, more than enough to make the final trial payment. I am now waiting for my Camp BX withdrawal request to process. As soon as I know it's on its way to my fiat bank account I am calling up the mortgage company and making that third payment.

I gripe a bit about how I would have preferred to have hung on to ASIC MINER and continued collecting the dividends. At the same time I know I did not invest anywhere near a thousand dollars into it. I am absolutely grateful to have had an asset that was actually worth enough to turn into a mortgage payment and then some. Liquidating one investment to make that payment is so much better than the alternative of taking on yet more consumer debt, or as we did for a while, quit making our house payments and hope that something besides repossession would occur. It's actually a little known secret that beautiful options for modifying existing home loans open up only after the debtor has been delinquent on payments for several months.

Selling off an investment like that has motivated me again to keep writing for the Devtome, and continue to publish there, because at some point I'd like to buy back that interest. Everyone should own a bit of ASIC MINER in my opinion. I might have been able to keep it had my contributions to the Devtome from last round been more substantial.

The best part was actually having an asset to sell whose value amounted to something substantial. A huge part of this asset's value is tied in with the fact that at the time I acquired most of it, Bitcoins were only worth a hundred dollars, whereas now they're worth eight times that much. ASIC MINER shares have also lost value since I bought them but not nearly as much.

Last year, scrambling involved juggling credit lines and utility bills. This year, scrambling involves figuring out which crypto asset to liquidate to keep the creditors happy. I definitely see an improvement in our financial life and am looking forward to more in the near future. What will this time next year be like?

Devtome Writers


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