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8ball

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  1. It's a great goal to have that last check bounce as they're wheeling you into the morgue. The problem is getting the timing right.
  2. I'm glad you found one willing to work out a plan with you. There is a big difference between those loan officers that want a quick sale and those willing to put time and effort into working with their clients.
  3. The size of the nest egg is only one factor. Spending is the other. If you feel you need $X dollars per year to enjoy retirement (lets say $80,000 is your number) then you subtract known income streams from the $80,000. Most couples will have 2 Social Security checks coming in every month so lets call that $1,500 per month, per person. Now we have $80,000-$36,000= $44,000. If either of you has a pension or annuity that would be subtracted from the $44,000. If no other income streams are available you need your nest egg to produce the $44,000 per year. It's common to use a 4% wi
  4. I want to agree with cv91915 that sitting down with a mortgage broker is a great idea. All the good ones will be happy to sit down with you and work out a plan. ( I have worked with many buyers that benefited from this).
  5. I'm always amazed at how many "celebrities" I have never heard of.
  6. The old rule of thumb is you should plan to stay in a house for 5 years for the purchase to make sense. The housing markets been on a tear, in many areas, and may continue to go up. Who knows? But, with an iffy job and no particular love for the area I would wait.
  7. I have seen a number of clients use different methods. (These may differ by state). In MN, Bank of America offers up to $10,000 towards closing costs if you get a loan from them. This can be combined with a MN housing loan, for down payment, which means virtually nothing out of pocket for buyer. I'm not in any way saying people should buy a house if their cash poor, you don't want a water heater going out a month after you close, but it can be done.
  8. I think these articles are a build up for universal income.
  9. I'm glad she's recovering. Scary situation.
  10. FHA is starting to make some changes on how the calculate student loans- Hot of the press…The Federal Housing Administration (FHA) has announced updates to its student loan monthly payment calculations to take steps to remove barriers and provide more access to affordable single family FHA-insured mortgage financing for creditworthy individuals with student loan debt. This is big news for your clients, this updated policy aligns FHA student loan debt calculation with the other agencies, helping to streamline and simplify for borrowers with student loan debt obligations. The upda
  11. Time. All the inquires will be gone in 2 years and mostly meaningless in 1 year.
  12. I remember my first card was a Phillip 66 gas card. My next was a JC Penney card and then an Amex card.
  13. In the appraisal work I do a lot of the Rehabbers use Lendinghome. I can't vouch for them but I see the name come up often. https://www.lendinghome.com/
  14. In the State of MN it also has to do with sewer lines and how they connect to the municipal line. Free standing homes have their own direct connection where Town Homes are usually built with a shared connection.
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