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UCGal
Participant[quote=UCGal] (I work on vxwords stuff, though).[/quote]
And apparently I can’t spell. LOL.
Participant[quote=UCGal] (I work on vxwords stuff, though).[/quote]
And apparently I can’t spell. LOL.
Participant[quote=sdrealtor]thats called found money! dump it on the principal each month and reap the real rewards of what you just did.[/quote]
ITA. Especially since you probably extended the final payout day… (Assuming your old mortgage had some payments/years into it.)
When we refinanced last year our payment dropped by $700 for principal and interest… but the pay off date was extended another 6 years… (we were 6 years into a 15 year loan.) We’re taking that $700 and putting it as extra principal payments… we’ll be paid off more than a year earlier than if we hadn’t refi’d.
(And if the horrible happens – where both hubster and I lose our jobs, our obligated payment is much lower, so we can make that till we find work.)
Participant[quote=sdrealtor]thats called found money! dump it on the principal each month and reap the real rewards of what you just did.[/quote]
ITA. Especially since you probably extended the final payout day… (Assuming your old mortgage had some payments/years into it.)
When we refinanced last year our payment dropped by $700 for principal and interest… but the pay off date was extended another 6 years… (we were 6 years into a 15 year loan.) We’re taking that $700 and putting it as extra principal payments… we’ll be paid off more than a year earlier than if we hadn’t refi’d.
(And if the horrible happens – where both hubster and I lose our jobs, our obligated payment is much lower, so we can make that till we find work.)
Participant[quote=sdrealtor]thats called found money! dump it on the principal each month and reap the real rewards of what you just did.[/quote]
ITA. Especially since you probably extended the final payout day… (Assuming your old mortgage had some payments/years into it.)
When we refinanced last year our payment dropped by $700 for principal and interest… but the pay off date was extended another 6 years… (we were 6 years into a 15 year loan.) We’re taking that $700 and putting it as extra principal payments… we’ll be paid off more than a year earlier than if we hadn’t refi’d.
(And if the horrible happens – where both hubster and I lose our jobs, our obligated payment is much lower, so we can make that till we find work.)
Participant[quote=sdrealtor]thats called found money! dump it on the principal each month and reap the real rewards of what you just did.[/quote]
ITA. Especially since you probably extended the final payout day… (Assuming your old mortgage had some payments/years into it.)
When we refinanced last year our payment dropped by $700 for principal and interest… but the pay off date was extended another 6 years… (we were 6 years into a 15 year loan.) We’re taking that $700 and putting it as extra principal payments… we’ll be paid off more than a year earlier than if we hadn’t refi’d.
(And if the horrible happens – where both hubster and I lose our jobs, our obligated payment is much lower, so we can make that till we find work.)
Participant[quote=sdrealtor]thats called found money! dump it on the principal each month and reap the real rewards of what you just did.[/quote]
ITA. Especially since you probably extended the final payout day… (Assuming your old mortgage had some payments/years into it.)
When we refinanced last year our payment dropped by $700 for principal and interest… but the pay off date was extended another 6 years… (we were 6 years into a 15 year loan.) We’re taking that $700 and putting it as extra principal payments… we’ll be paid off more than a year earlier than if we hadn’t refi’d.
(And if the horrible happens – where both hubster and I lose our jobs, our obligated payment is much lower, so we can make that till we find work.)
Participant[quote=Arraya][quote=jpinpb] What plan/scheme does the government have next up its sleeve?[/quote]
Junk shot?[/quote]
That made me laugh!Participant[quote=Arraya][quote=jpinpb] What plan/scheme does the government have next up its sleeve?[/quote]
Junk shot?[/quote]
That made me laugh!Participant[quote=Arraya][quote=jpinpb] What plan/scheme does the government have next up its sleeve?[/quote]
Junk shot?[/quote]
That made me laugh!Participant[quote=Arraya][quote=jpinpb] What plan/scheme does the government have next up its sleeve?[/quote]
Junk shot?[/quote]
That made me laugh!Participant[quote=Arraya][quote=jpinpb] What plan/scheme does the government have next up its sleeve?[/quote]
Junk shot?[/quote]
That made me laugh!Participant[quote=sdrealtor]I’m not assuming all boomer parent’s are liquid and free and clear BUT some are. Some leave bills and some leave inheritances some of which are small and some are large. I know of some that left nothing but because of how I grew up I happen to know more that will leave plenty for children who are already very successful in their own rights. Its all over the board and I just want to make sure we look at things in balanced approach. Not everyone is leaving behind bills. I have a client right now whose father was a retired marine that liked to pick up beat up old houses and units around North Park. He was a tough as nails no nonsense guy that you would see at Home depot and think nothing of him. He just passed last year and left his two kids (in their 50’s) apartment complexes , land, houses, and 2 to 4 unit properties. We are working on selling some properties as he didnt have much other assets and owes the IRS about $1M in estate taxes. After that the kids will live off the rental income comfortably for the rest of their lives. Fr everyone of him there are a handful not like like him but thats not the point. The point is there are a good number of folks like him too.[/quote]
Bummer for his kids he didn’t die this year… it was/is the estate tax free year. But last year was still pretty good… 3.5M excluded… unfortunately anything above that was taxed at a 45% rate. His kids are sitting pretty if the estate was somewhere around 5.7M (to get an estate tax of 1M). It’s a shame they have to sell some of the holdings to pay the taxes. But it sounds like there will be plenty left when it’s all over.Participant[quote=sdrealtor]I’m not assuming all boomer parent’s are liquid and free and clear BUT some are. Some leave bills and some leave inheritances some of which are small and some are large. I know of some that left nothing but because of how I grew up I happen to know more that will leave plenty for children who are already very successful in their own rights. Its all over the board and I just want to make sure we look at things in balanced approach. Not everyone is leaving behind bills. I have a client right now whose father was a retired marine that liked to pick up beat up old houses and units around North Park. He was a tough as nails no nonsense guy that you would see at Home depot and think nothing of him. He just passed last year and left his two kids (in their 50’s) apartment complexes , land, houses, and 2 to 4 unit properties. We are working on selling some properties as he didnt have much other assets and owes the IRS about $1M in estate taxes. After that the kids will live off the rental income comfortably for the rest of their lives. Fr everyone of him there are a handful not like like him but thats not the point. The point is there are a good number of folks like him too.[/quote]
Bummer for his kids he didn’t die this year… it was/is the estate tax free year. But last year was still pretty good… 3.5M excluded… unfortunately anything above that was taxed at a 45% rate. His kids are sitting pretty if the estate was somewhere around 5.7M (to get an estate tax of 1M). It’s a shame they have to sell some of the holdings to pay the taxes. But it sounds like there will be plenty left when it’s all over. -
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