[Raybyrnes]

Unfortunately this is where my knowledgee runs out. You would have to call a lender and find out what is available through these programs.

You may also want to look into the SBA program. If their was any potentail damage to you home you could try to loosely quaiify for SBA money 2.97 for a 30 year fixed up to 200K or if you have a small business 4% fixed up to 1.5 million .

During the World Trade Center many businesses were looseely extended these types of loans. You may want to speak with a banker to see how loose they would be for you.
Sorry I don’t have more for you.

[Raybyrnes]

Unfortunately this is where my knowledgee runs out. You would have to call a lender and find out what is available through these programs.

You may also want to look into the SBA program. If their was any potentail damage to you home you could try to loosely quaiify for SBA money 2.97 for a 30 year fixed up to 200K or if you have a small business 4% fixed up to 1.5 million .

During the World Trade Center many businesses were looseely extended these types of loans. You may want to speak with a banker to see how loose they would be for you.
Sorry I don’t have more for you.

[Raybyrnes]

I would think that with a rental you could also loosely qualify as a “real estate investment professional” which would provide you with the ability of writing off additional expenses for your transportation, subscriptions to newspapers and journals, paid for websites etc.

[Raybyrnes]

I would think that with a rental you could also loosely qualify as a “real estate investment professional” which would provide you with the ability of writing off additional expenses for your transportation, subscriptions to newspapers and journals, paid for websites etc.

[Raybyrnes]

I would think that with a rental you could also loosely qualify as a “real estate investment professional” which would provide you with the ability of writing off additional expenses for your transportation, subscriptions to newspapers and journals, paid for websites etc.

[Raybyrnes]

My fatehr retired as a 15/ 10 IG and had the same decison. First thing is to point out that your missed the mark by not looking into this 10 or 15 years ago when you could have run the numbers to purchase a life insurance contract which would have allowed you to take the higher payout and would have covered you in the event of her death. I say this becaue if you ahve children and they elect to follow in mom’s footsteps they may wnat this information.

The next thing is to look at the age disparity. If you are equal in ages the likelihood of you outliving her is statistically small unless you have family histories that would suggest otherwise.

The safe play is to simply accept the death benefit. The opportunist in me says that if you know that financially you can weather a storm in the event of her unforseen death then go for the higher payout. The difference is only going to effect how much wealth you leave to your children.

If you want a hedge find out what the difference would be between the full payout and the reduced payout and see how much whole life insurance that would buy you. If you die before her than she can reassign the policy to your children. In this scenario you wouldn’t have wasted the reduced payout. Value of the poicy might also offset the higher cost of medical insurance for you.

[Raybyrnes]

My fatehr retired as a 15/ 10 IG and had the same decison. First thing is to point out that your missed the mark by not looking into this 10 or 15 years ago when you could have run the numbers to purchase a life insurance contract which would have allowed you to take the higher payout and would have covered you in the event of her death. I say this becaue if you ahve children and they elect to follow in mom’s footsteps they may wnat this information.

The next thing is to look at the age disparity. If you are equal in ages the likelihood of you outliving her is statistically small unless you have family histories that would suggest otherwise.

The safe play is to simply accept the death benefit. The opportunist in me says that if you know that financially you can weather a storm in the event of her unforseen death then go for the higher payout. The difference is only going to effect how much wealth you leave to your children.

If you want a hedge find out what the difference would be between the full payout and the reduced payout and see how much whole life insurance that would buy you. If you die before her than she can reassign the policy to your children. In this scenario you wouldn’t have wasted the reduced payout. Value of the poicy might also offset the higher cost of medical insurance for you.

[Raybyrnes]

My fatehr retired as a 15/ 10 IG and had the same decison. First thing is to point out that your missed the mark by not looking into this 10 or 15 years ago when you could have run the numbers to purchase a life insurance contract which would have allowed you to take the higher payout and would have covered you in the event of her death. I say this becaue if you ahve children and they elect to follow in mom’s footsteps they may wnat this information.

The next thing is to look at the age disparity. If you are equal in ages the likelihood of you outliving her is statistically small unless you have family histories that would suggest otherwise.

The safe play is to simply accept the death benefit. The opportunist in me says that if you know that financially you can weather a storm in the event of her unforseen death then go for the higher payout. The difference is only going to effect how much wealth you leave to your children.

If you want a hedge find out what the difference would be between the full payout and the reduced payout and see how much whole life insurance that would buy you. If you die before her than she can reassign the policy to your children. In this scenario you wouldn’t have wasted the reduced payout. Value of the poicy might also offset the higher cost of medical insurance for you.

[Raybyrnes]

Good time to make lemonade out of lemons. Oil prices going up mean that alrternative energy substitutes will become more economical.

How would this ply out. Think Solar. Polisilica is used to make processing chips for INTEL but they are also used in Solar Panals. One stock I have been following in MEMC stock symbol wfr.

The dollar weakening means that our exports become cheaper. How do I benefit form this. Think shipping industry. DRYS and otehr shippers should do well in this enrirnment.

Oil prices up mean that it is more valuable to drill for oil. How do I benefit . What about looking at a company like RIG.

The way I see the rise in gas and profits of the oil company is that my 401k is up about 18% year to date. Part of that is comprised of energy sectors taht I have been the benefitciary of. The bottome line is that if you can’t beat em join em.

[Raybyrnes]

Good time to make lemonade out of lemons. Oil prices going up mean that alrternative energy substitutes will become more economical.

How would this ply out. Think Solar. Polisilica is used to make processing chips for INTEL but they are also used in Solar Panals. One stock I have been following in MEMC stock symbol wfr.

The dollar weakening means that our exports become cheaper. How do I benefit form this. Think shipping industry. DRYS and otehr shippers should do well in this enrirnment.

Oil prices up mean that it is more valuable to drill for oil. How do I benefit . What about looking at a company like RIG.

The way I see the rise in gas and profits of the oil company is that my 401k is up about 18% year to date. Part of that is comprised of energy sectors taht I have been the benefitciary of. The bottome line is that if you can’t beat em join em.

[Raybyrnes]

Good time to make lemonade out of lemons. Oil prices going up mean that alrternative energy substitutes will become more economical.

How would this ply out. Think Solar. Polisilica is used to make processing chips for INTEL but they are also used in Solar Panals. One stock I have been following in MEMC stock symbol wfr.

The dollar weakening means that our exports become cheaper. How do I benefit form this. Think shipping industry. DRYS and otehr shippers should do well in this enrirnment.

Oil prices up mean that it is more valuable to drill for oil. How do I benefit . What about looking at a company like RIG.

The way I see the rise in gas and profits of the oil company is that my 401k is up about 18% year to date. Part of that is comprised of energy sectors taht I have been the benefitciary of. The bottome line is that if you can’t beat em join em.

[Raybyrnes]

SD Realtor

Yep

The California Homebuyer’s Downpayment Assistance Program (CHDAP) is designed to provide a deferred payment, simple interest rate junior loan of an amount up to three percent (3%) of the sales price or appraised value, whichever is less. The junior loan may be used for down payment or closing costs and may be combined with a CalHFA or non-CalHFA conventional or government first mortgage loan.

DOWN PAYMENT ASSISTANCE PROGRAMS

Term matches term of first mortgage

High Cost Area Home Purchase Assistance Program (HiCAP)4
6.750%

CalHFA Housing Assistance Program (CHAP)
6.750%

California Homebuyer’s Downpayment Assistance Program (CHDAP)
3.000%

Extra Credit Teacher Program (ECTP)
5.000%

There use to be a program called the Nehimiah program that would allow you to go over 100% with participating lender but I believe the program has been eliminated and is being investigated as to the legality of it.

[Raybyrnes]

SD Realtor

Yep

The California Homebuyer’s Downpayment Assistance Program (CHDAP) is designed to provide a deferred payment, simple interest rate junior loan of an amount up to three percent (3%) of the sales price or appraised value, whichever is less. The junior loan may be used for down payment or closing costs and may be combined with a CalHFA or non-CalHFA conventional or government first mortgage loan.

DOWN PAYMENT ASSISTANCE PROGRAMS

Term matches term of first mortgage

High Cost Area Home Purchase Assistance Program (HiCAP)4
6.750%

CalHFA Housing Assistance Program (CHAP)
6.750%

California Homebuyer’s Downpayment Assistance Program (CHDAP)
3.000%

Extra Credit Teacher Program (ECTP)
5.000%

There use to be a program called the Nehimiah program that would allow you to go over 100% with participating lender but I believe the program has been eliminated and is being investigated as to the legality of it.

[Raybyrnes]

SD Realtor

Yep

The California Homebuyer’s Downpayment Assistance Program (CHDAP) is designed to provide a deferred payment, simple interest rate junior loan of an amount up to three percent (3%) of the sales price or appraised value, whichever is less. The junior loan may be used for down payment or closing costs and may be combined with a CalHFA or non-CalHFA conventional or government first mortgage loan.

DOWN PAYMENT ASSISTANCE PROGRAMS

Term matches term of first mortgage

High Cost Area Home Purchase Assistance Program (HiCAP)4
6.750%

CalHFA Housing Assistance Program (CHAP)
6.750%

California Homebuyer’s Downpayment Assistance Program (CHDAP)
3.000%

Extra Credit Teacher Program (ECTP)
5.000%

There use to be a program called the Nehimiah program that would allow you to go over 100% with participating lender but I believe the program has been eliminated and is being investigated as to the legality of it.

[Raybyrnes]

dingo
You didn’t pay PMI but you did pay a 1.5 origination fee on the loan that went to pay mortgage insurantce. You may have missed that but it is built into the cost of the loan. It was through the Calhafa program and Acorn simply put you in contact wiht one of the lenders affiliated wiht the program . If you doubt what I am saying you can visit http://www.calhfa.ca.gov and look under the unterest rates for the 40 year 10 year IO program.

40-Year Fixed Mortgage

This conventional first mortgage loan program is designed to enhance affordability and homeownership opportunities by offering a below market, fixed interest rate . This program is intended for first-time homebuyers who meet specified low and moderate income limits and who are purchasing a new or existing home anywhere in California.

How The Program Works

This program offers up to 100% financing of the home sales price within CalHFA’s defined sales price limits. This first mortgage loan may also be combined with CalHFA junior loan programs (except CHAP), for down payment and closing cost assistance, to make owning your first home more affordable.

[Author]

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