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HLS
ParticipantMy favorites are books that were written years ago that prove cycles repeat, and human greed doesn’t change..
a) PANICS & CRASHES AND HOW YOU CAN MAKE MONEY OUT OF THEM by Harry Schultz 1972
b)THE DAY THE BUBBLE BURST by Gordon Thomas 1979
c) THE GREAT DEPRESSION by Robert McElvaine originally written in 1984,updated edition 1993.
and coming soon
d) I UPPED MY INCOME, UP YOURS by Henry Paulson 2009
January 3, 2009 at 11:26 AM in reply to: Buying home as part of divorce settlement……good idea or not? #323158ParticipantIf house is worth $490K, you have $290K in equity. Do you need to give spouse 50% ?
If so, you will need $145K + $200k = $345K new loan.It’s imposible to quote you a rate that you qualify for without knowing your credit score, and the exact % of home value that you will need to borrow, but with a 30 YR mtg at 5% your payment will be $1852. Your taxes and insurance should be less than $400 a month, total $2252.
(A $300K loan will be $240 a month less)If you can get $1300 a month income, it will cost you less than $1000 a month to live in a place that you are comfortable, and a good part of it will be tax deductible. You will also be paying down principal.
Assuming that you want to stay in the area, you can either sell and split proceeds and go rent
OR just stay put and enjoy a place that you already know, and forget about what you owe, just look at what it will cost you.If you’d like to discuss your loan options feel free to contact me. …HLS
January 3, 2009 at 11:26 AM in reply to: Buying home as part of divorce settlement……good idea or not? #323498ParticipantIf house is worth $490K, you have $290K in equity. Do you need to give spouse 50% ?
If so, you will need $145K + $200k = $345K new loan.It’s imposible to quote you a rate that you qualify for without knowing your credit score, and the exact % of home value that you will need to borrow, but with a 30 YR mtg at 5% your payment will be $1852. Your taxes and insurance should be less than $400 a month, total $2252.
(A $300K loan will be $240 a month less)If you can get $1300 a month income, it will cost you less than $1000 a month to live in a place that you are comfortable, and a good part of it will be tax deductible. You will also be paying down principal.
Assuming that you want to stay in the area, you can either sell and split proceeds and go rent
OR just stay put and enjoy a place that you already know, and forget about what you owe, just look at what it will cost you.If you’d like to discuss your loan options feel free to contact me. …HLS
January 3, 2009 at 11:26 AM in reply to: Buying home as part of divorce settlement……good idea or not? #323560ParticipantIf house is worth $490K, you have $290K in equity. Do you need to give spouse 50% ?
If so, you will need $145K + $200k = $345K new loan.It’s imposible to quote you a rate that you qualify for without knowing your credit score, and the exact % of home value that you will need to borrow, but with a 30 YR mtg at 5% your payment will be $1852. Your taxes and insurance should be less than $400 a month, total $2252.
(A $300K loan will be $240 a month less)If you can get $1300 a month income, it will cost you less than $1000 a month to live in a place that you are comfortable, and a good part of it will be tax deductible. You will also be paying down principal.
Assuming that you want to stay in the area, you can either sell and split proceeds and go rent
OR just stay put and enjoy a place that you already know, and forget about what you owe, just look at what it will cost you.If you’d like to discuss your loan options feel free to contact me. …HLS
January 3, 2009 at 11:26 AM in reply to: Buying home as part of divorce settlement……good idea or not? #323578ParticipantIf house is worth $490K, you have $290K in equity. Do you need to give spouse 50% ?
If so, you will need $145K + $200k = $345K new loan.It’s imposible to quote you a rate that you qualify for without knowing your credit score, and the exact % of home value that you will need to borrow, but with a 30 YR mtg at 5% your payment will be $1852. Your taxes and insurance should be less than $400 a month, total $2252.
(A $300K loan will be $240 a month less)If you can get $1300 a month income, it will cost you less than $1000 a month to live in a place that you are comfortable, and a good part of it will be tax deductible. You will also be paying down principal.
Assuming that you want to stay in the area, you can either sell and split proceeds and go rent
OR just stay put and enjoy a place that you already know, and forget about what you owe, just look at what it will cost you.If you’d like to discuss your loan options feel free to contact me. …HLS
January 3, 2009 at 11:26 AM in reply to: Buying home as part of divorce settlement……good idea or not? #323657ParticipantIf house is worth $490K, you have $290K in equity. Do you need to give spouse 50% ?
If so, you will need $145K + $200k = $345K new loan.It’s imposible to quote you a rate that you qualify for without knowing your credit score, and the exact % of home value that you will need to borrow, but with a 30 YR mtg at 5% your payment will be $1852. Your taxes and insurance should be less than $400 a month, total $2252.
(A $300K loan will be $240 a month less)If you can get $1300 a month income, it will cost you less than $1000 a month to live in a place that you are comfortable, and a good part of it will be tax deductible. You will also be paying down principal.
Assuming that you want to stay in the area, you can either sell and split proceeds and go rent
OR just stay put and enjoy a place that you already know, and forget about what you owe, just look at what it will cost you.If you’d like to discuss your loan options feel free to contact me. …HLS
January 3, 2009 at 8:55 AM in reply to: Buying home as part of divorce settlement……good idea or not? #323063ParticipantSorry about your personal situation.
From a business standpoint:
a) How much did you originally pay
b) How much do you currently owe
c) What is the rate on your current loan and is it fixed
d) How much income can you get from the guest unit
e) Do you know your credit score or what you qualify forIt already sounds like your net cost of living there is going to be way less than renting elsewhere, regardless of what you owe.
January 3, 2009 at 8:55 AM in reply to: Buying home as part of divorce settlement……good idea or not? #323403ParticipantSorry about your personal situation.
From a business standpoint:
a) How much did you originally pay
b) How much do you currently owe
c) What is the rate on your current loan and is it fixed
d) How much income can you get from the guest unit
e) Do you know your credit score or what you qualify forIt already sounds like your net cost of living there is going to be way less than renting elsewhere, regardless of what you owe.
January 3, 2009 at 8:55 AM in reply to: Buying home as part of divorce settlement……good idea or not? #323465ParticipantSorry about your personal situation.
From a business standpoint:
a) How much did you originally pay
b) How much do you currently owe
c) What is the rate on your current loan and is it fixed
d) How much income can you get from the guest unit
e) Do you know your credit score or what you qualify forIt already sounds like your net cost of living there is going to be way less than renting elsewhere, regardless of what you owe.
January 3, 2009 at 8:55 AM in reply to: Buying home as part of divorce settlement……good idea or not? #323482ParticipantSorry about your personal situation.
From a business standpoint:
a) How much did you originally pay
b) How much do you currently owe
c) What is the rate on your current loan and is it fixed
d) How much income can you get from the guest unit
e) Do you know your credit score or what you qualify forIt already sounds like your net cost of living there is going to be way less than renting elsewhere, regardless of what you owe.
January 3, 2009 at 8:55 AM in reply to: Buying home as part of divorce settlement……good idea or not? #323561ParticipantSorry about your personal situation.
From a business standpoint:
a) How much did you originally pay
b) How much do you currently owe
c) What is the rate on your current loan and is it fixed
d) How much income can you get from the guest unit
e) Do you know your credit score or what you qualify forIt already sounds like your net cost of living there is going to be way less than renting elsewhere, regardless of what you owe.
ParticipantYou are right. It makes the decision so much easier.
YOU will pay a higher payment for 30 years than you should have. Every single one of your 360 payments will be for more than they should have been. That was an easy decision to make, because it was FREE!
I don’t deal with foolish gimmicks or encourage people to gamble with their financial security. There is NO SUCH THING as a free loan, or free closing costs. ARMS, Neg Am loans, etc sounded good to people because it was a “better deal”
In casinos it’s called a sucker’s bet. Things that suck people in that appear to be a deal, but end up costing a small fortune in the long run, representing huge profits to the house.
People with your mindset foolishly pay more money every single month but are happy because it was “FREE” or no risk.
Brainwashed bank employees will be happy to sign you up for this deal, they have been trained to think just like you do !!
I’ll assume that FSBO means that you don’t use RE agents either because it costs something.
FWIW most FSBO’s end up with less money in their pocket. Another “easy decision” because it was FREEEEEEEEEEEEEEEEEEE
ParticipantYou are right. It makes the decision so much easier.
YOU will pay a higher payment for 30 years than you should have. Every single one of your 360 payments will be for more than they should have been. That was an easy decision to make, because it was FREE!
I don’t deal with foolish gimmicks or encourage people to gamble with their financial security. There is NO SUCH THING as a free loan, or free closing costs. ARMS, Neg Am loans, etc sounded good to people because it was a “better deal”
In casinos it’s called a sucker’s bet. Things that suck people in that appear to be a deal, but end up costing a small fortune in the long run, representing huge profits to the house.
People with your mindset foolishly pay more money every single month but are happy because it was “FREE” or no risk.
Brainwashed bank employees will be happy to sign you up for this deal, they have been trained to think just like you do !!
I’ll assume that FSBO means that you don’t use RE agents either because it costs something.
FWIW most FSBO’s end up with less money in their pocket. Another “easy decision” because it was FREEEEEEEEEEEEEEEEEEE
ParticipantYou are right. It makes the decision so much easier.
YOU will pay a higher payment for 30 years than you should have. Every single one of your 360 payments will be for more than they should have been. That was an easy decision to make, because it was FREE!
I don’t deal with foolish gimmicks or encourage people to gamble with their financial security. There is NO SUCH THING as a free loan, or free closing costs. ARMS, Neg Am loans, etc sounded good to people because it was a “better deal”
In casinos it’s called a sucker’s bet. Things that suck people in that appear to be a deal, but end up costing a small fortune in the long run, representing huge profits to the house.
People with your mindset foolishly pay more money every single month but are happy because it was “FREE” or no risk.
Brainwashed bank employees will be happy to sign you up for this deal, they have been trained to think just like you do !!
I’ll assume that FSBO means that you don’t use RE agents either because it costs something.
FWIW most FSBO’s end up with less money in their pocket. Another “easy decision” because it was FREEEEEEEEEEEEEEEEEEE
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