[patientrenter]

[quote=partypup]Open question to everyone, here. I don’t think this virus will end up being particularly deadly. I would be surprised if it ended up exceeding a 5% mortality rate in the U.S…..
[/quote]

partypup, 5% of the US population is over 15 million people. I consider that a lot of dead people.

Of course, the whole thing is over-hyped. It fills air-time, and gives people a scary thrill, like a good ride at Disney. It’s as likely to become a repeat of the 1918 flu as the two-headed baby fathered by aliens will get up from the cover of The National Enquirer and walk around with a ray-gun.

[patientrenter]

[quote=partypup]Open question to everyone, here. I don’t think this virus will end up being particularly deadly. I would be surprised if it ended up exceeding a 5% mortality rate in the U.S…..
[/quote]

partypup, 5% of the US population is over 15 million people. I consider that a lot of dead people.

Of course, the whole thing is over-hyped. It fills air-time, and gives people a scary thrill, like a good ride at Disney. It’s as likely to become a repeat of the 1918 flu as the two-headed baby fathered by aliens will get up from the cover of The National Enquirer and walk around with a ray-gun.

[patientrenter]

[quote=partypup]Open question to everyone, here. I don’t think this virus will end up being particularly deadly. I would be surprised if it ended up exceeding a 5% mortality rate in the U.S…..
[/quote]

partypup, 5% of the US population is over 15 million people. I consider that a lot of dead people.

Of course, the whole thing is over-hyped. It fills air-time, and gives people a scary thrill, like a good ride at Disney. It’s as likely to become a repeat of the 1918 flu as the two-headed baby fathered by aliens will get up from the cover of The National Enquirer and walk around with a ray-gun.

[patientrenter]

[quote=partypup]Open question to everyone, here. I don’t think this virus will end up being particularly deadly. I would be surprised if it ended up exceeding a 5% mortality rate in the U.S…..
[/quote]

partypup, 5% of the US population is over 15 million people. I consider that a lot of dead people.

Of course, the whole thing is over-hyped. It fills air-time, and gives people a scary thrill, like a good ride at Disney. It’s as likely to become a repeat of the 1918 flu as the two-headed baby fathered by aliens will get up from the cover of The National Enquirer and walk around with a ray-gun.

[patientrenter]

Well, my personal situation is a bit different, davelj, so maybe I should explain.

I value each few hundred thousand of savings because I am very conservative. For example, I like to limit my spending to less than 10% of my income. My cash reserves cover 10 years of spending, and that’s a low point for me. I have never borrowed, and I have never looked up my credit score, so I don’t know what it is. But I am aware that, since I don’t pay any attention to it, it might be low. (If FedEx screws up a billing, I politely let them know. If they screw it up twice, I just don’t pay. I don’t have time to waste.) When I last moved jobs, I actually required that the offer not be conditional on my credit score. I am well known in my little segment of my industry, so it was not a problem.

I can’t imagine a bad credit score becoming an issue for me, since I don’t have a high (general) public profile at the companies I work for. (They are well-known financial institutions.) I do have to file detailed background information about myself directly with dozens of regulatory bodies, but they don’t ask for my credit score. And the people who know me at my company use me for valuing acquisition targets, so I think they just don’t much care if FedEx disagrees with me on a bill. If I ever had to take on more public responsibilities, I’d just clean up the credit score.

I am curious, what forces you to have a good credit score? Is it reputational – the folks you deal as clients don’t know you that well? Or is it regulatory – bank regulators require it of directors? I may have to pay attention to my score one day, I suppose, so it probably wouldn’t hurt to become aware of what other folks have to do.

[patientrenter]

Well, my personal situation is a bit different, davelj, so maybe I should explain.

I value each few hundred thousand of savings because I am very conservative. For example, I like to limit my spending to less than 10% of my income. My cash reserves cover 10 years of spending, and that’s a low point for me. I have never borrowed, and I have never looked up my credit score, so I don’t know what it is. But I am aware that, since I don’t pay any attention to it, it might be low. (If FedEx screws up a billing, I politely let them know. If they screw it up twice, I just don’t pay. I don’t have time to waste.) When I last moved jobs, I actually required that the offer not be conditional on my credit score. I am well known in my little segment of my industry, so it was not a problem.

I can’t imagine a bad credit score becoming an issue for me, since I don’t have a high (general) public profile at the companies I work for. (They are well-known financial institutions.) I do have to file detailed background information about myself directly with dozens of regulatory bodies, but they don’t ask for my credit score. And the people who know me at my company use me for valuing acquisition targets, so I think they just don’t much care if FedEx disagrees with me on a bill. If I ever had to take on more public responsibilities, I’d just clean up the credit score.

I am curious, what forces you to have a good credit score? Is it reputational – the folks you deal as clients don’t know you that well? Or is it regulatory – bank regulators require it of directors? I may have to pay attention to my score one day, I suppose, so it probably wouldn’t hurt to become aware of what other folks have to do.

[patientrenter]

Well, my personal situation is a bit different, davelj, so maybe I should explain.

I value each few hundred thousand of savings because I am very conservative. For example, I like to limit my spending to less than 10% of my income. My cash reserves cover 10 years of spending, and that’s a low point for me. I have never borrowed, and I have never looked up my credit score, so I don’t know what it is. But I am aware that, since I don’t pay any attention to it, it might be low. (If FedEx screws up a billing, I politely let them know. If they screw it up twice, I just don’t pay. I don’t have time to waste.) When I last moved jobs, I actually required that the offer not be conditional on my credit score. I am well known in my little segment of my industry, so it was not a problem.

I can’t imagine a bad credit score becoming an issue for me, since I don’t have a high (general) public profile at the companies I work for. (They are well-known financial institutions.) I do have to file detailed background information about myself directly with dozens of regulatory bodies, but they don’t ask for my credit score. And the people who know me at my company use me for valuing acquisition targets, so I think they just don’t much care if FedEx disagrees with me on a bill. If I ever had to take on more public responsibilities, I’d just clean up the credit score.

I am curious, what forces you to have a good credit score? Is it reputational – the folks you deal as clients don’t know you that well? Or is it regulatory – bank regulators require it of directors? I may have to pay attention to my score one day, I suppose, so it probably wouldn’t hurt to become aware of what other folks have to do.

[patientrenter]

Well, my personal situation is a bit different, davelj, so maybe I should explain.

I value each few hundred thousand of savings because I am very conservative. For example, I like to limit my spending to less than 10% of my income. My cash reserves cover 10 years of spending, and that’s a low point for me. I have never borrowed, and I have never looked up my credit score, so I don’t know what it is. But I am aware that, since I don’t pay any attention to it, it might be low. (If FedEx screws up a billing, I politely let them know. If they screw it up twice, I just don’t pay. I don’t have time to waste.) When I last moved jobs, I actually required that the offer not be conditional on my credit score. I am well known in my little segment of my industry, so it was not a problem.

I can’t imagine a bad credit score becoming an issue for me, since I don’t have a high (general) public profile at the companies I work for. (They are well-known financial institutions.) I do have to file detailed background information about myself directly with dozens of regulatory bodies, but they don’t ask for my credit score. And the people who know me at my company use me for valuing acquisition targets, so I think they just don’t much care if FedEx disagrees with me on a bill. If I ever had to take on more public responsibilities, I’d just clean up the credit score.

I am curious, what forces you to have a good credit score? Is it reputational – the folks you deal as clients don’t know you that well? Or is it regulatory – bank regulators require it of directors? I may have to pay attention to my score one day, I suppose, so it probably wouldn’t hurt to become aware of what other folks have to do.

[patientrenter]

Well, my personal situation is a bit different, davelj, so maybe I should explain.

I value each few hundred thousand of savings because I am very conservative. For example, I like to limit my spending to less than 10% of my income. My cash reserves cover 10 years of spending, and that’s a low point for me. I have never borrowed, and I have never looked up my credit score, so I don’t know what it is. But I am aware that, since I don’t pay any attention to it, it might be low. (If FedEx screws up a billing, I politely let them know. If they screw it up twice, I just don’t pay. I don’t have time to waste.) When I last moved jobs, I actually required that the offer not be conditional on my credit score. I am well known in my little segment of my industry, so it was not a problem.

I can’t imagine a bad credit score becoming an issue for me, since I don’t have a high (general) public profile at the companies I work for. (They are well-known financial institutions.) I do have to file detailed background information about myself directly with dozens of regulatory bodies, but they don’t ask for my credit score. And the people who know me at my company use me for valuing acquisition targets, so I think they just don’t much care if FedEx disagrees with me on a bill. If I ever had to take on more public responsibilities, I’d just clean up the credit score.

I am curious, what forces you to have a good credit score? Is it reputational – the folks you deal as clients don’t know you that well? Or is it regulatory – bank regulators require it of directors? I may have to pay attention to my score one day, I suppose, so it probably wouldn’t hurt to become aware of what other folks have to do.

[patientrenter]

On the credit thing flu mentions, just make sure your potential gain is hundreds of thousands. No point in destroying your credit score for a few thousand.

On the risk of not getting the mod, I am skeptical it’s a lot of risk. I recall on Calc Risk, when Tanta was asked about “ruthless defaults” and all that, she responded by saying that non-recourse provisions could be pierced if abused, and there were taxes on debt forgiveness outside of bankruptcy. Now we see that was all a joke, just to scare the masses into following rules that were so lax they were unenforceable. Why? To keep the rules lax and home prices high.

But I admit I’d get an attorney or real expert to go over the whole thing.

[patientrenter]

On the credit thing flu mentions, just make sure your potential gain is hundreds of thousands. No point in destroying your credit score for a few thousand.

On the risk of not getting the mod, I am skeptical it’s a lot of risk. I recall on Calc Risk, when Tanta was asked about “ruthless defaults” and all that, she responded by saying that non-recourse provisions could be pierced if abused, and there were taxes on debt forgiveness outside of bankruptcy. Now we see that was all a joke, just to scare the masses into following rules that were so lax they were unenforceable. Why? To keep the rules lax and home prices high.

But I admit I’d get an attorney or real expert to go over the whole thing.

[patientrenter]

On the credit thing flu mentions, just make sure your potential gain is hundreds of thousands. No point in destroying your credit score for a few thousand.

On the risk of not getting the mod, I am skeptical it’s a lot of risk. I recall on Calc Risk, when Tanta was asked about “ruthless defaults” and all that, she responded by saying that non-recourse provisions could be pierced if abused, and there were taxes on debt forgiveness outside of bankruptcy. Now we see that was all a joke, just to scare the masses into following rules that were so lax they were unenforceable. Why? To keep the rules lax and home prices high.

But I admit I’d get an attorney or real expert to go over the whole thing.

[patientrenter]

On the credit thing flu mentions, just make sure your potential gain is hundreds of thousands. No point in destroying your credit score for a few thousand.

On the risk of not getting the mod, I am skeptical it’s a lot of risk. I recall on Calc Risk, when Tanta was asked about “ruthless defaults” and all that, she responded by saying that non-recourse provisions could be pierced if abused, and there were taxes on debt forgiveness outside of bankruptcy. Now we see that was all a joke, just to scare the masses into following rules that were so lax they were unenforceable. Why? To keep the rules lax and home prices high.

But I admit I’d get an attorney or real expert to go over the whole thing.

[patientrenter]

On the credit thing flu mentions, just make sure your potential gain is hundreds of thousands. No point in destroying your credit score for a few thousand.

On the risk of not getting the mod, I am skeptical it’s a lot of risk. I recall on Calc Risk, when Tanta was asked about “ruthless defaults” and all that, she responded by saying that non-recourse provisions could be pierced if abused, and there were taxes on debt forgiveness outside of bankruptcy. Now we see that was all a joke, just to scare the masses into following rules that were so lax they were unenforceable. Why? To keep the rules lax and home prices high.

But I admit I’d get an attorney or real expert to go over the whole thing.

[patientrenter]

[quote=jpinpb]Would you not be able to do a 3% FHA? Pretty close to zero down, depending on the loan amount.[/quote]

If you can get 3% down, get the seller to pay all the costs, and creatively get a 3% loan from the seller or someone, then you’re at very little financial risk, as far as I can see. It would be worth determining your eligibility for all the different programs for irresponsible people and systematically maximizing your upside while covering yourself on the downside. I am sure there are services that can advise on how to do all this very effectively. Where are our realtors?

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