[UCGal]

I don’t have a judgment… yet – our arbitration with him just suspended because he didn’t pay his half. In the meantime I’m monitoring his status for signs of solvency and enjoying some karmic justice… He really screwed us financially and emotionally. If we can’t collect at least I can watch him suffer the consequences of his actions.

[UCGal]

I don’t have a judgment… yet – our arbitration with him just suspended because he didn’t pay his half. In the meantime I’m monitoring his status for signs of solvency and enjoying some karmic justice… He really screwed us financially and emotionally. If we can’t collect at least I can watch him suffer the consequences of his actions.

[UCGal]

I don’t have a judgment… yet – our arbitration with him just suspended because he didn’t pay his half. In the meantime I’m monitoring his status for signs of solvency and enjoying some karmic justice… He really screwed us financially and emotionally. If we can’t collect at least I can watch him suffer the consequences of his actions.

[UCGal]

Ok – I’ve been googling (always a dangerous move)… I think I’ve figured it out.

If the home forecloses – since the first mortgage (the one foreclosing) is first in line, all the other liens get wiped out for the next owner… But the creditors/judgment holders could still go after the current owner for the debts that created the liens in the first place. The soon to be former owner is not off the hook… just that the debt is no longer attached to the personal home.

In a short sale – any (or all) of the lien holders could refuse to cooperate – and kill the short sale. Since we’re talking about two separate absentee judgments and two separate state tax liens… I’m assuming the short sale is less than likely to go through.

[UCGal]

Ok – I’ve been googling (always a dangerous move)… I think I’ve figured it out.

If the home forecloses – since the first mortgage (the one foreclosing) is first in line, all the other liens get wiped out for the next owner… But the creditors/judgment holders could still go after the current owner for the debts that created the liens in the first place. The soon to be former owner is not off the hook… just that the debt is no longer attached to the personal home.

In a short sale – any (or all) of the lien holders could refuse to cooperate – and kill the short sale. Since we’re talking about two separate absentee judgments and two separate state tax liens… I’m assuming the short sale is less than likely to go through.

[UCGal]

Ok – I’ve been googling (always a dangerous move)… I think I’ve figured it out.

If the home forecloses – since the first mortgage (the one foreclosing) is first in line, all the other liens get wiped out for the next owner… But the creditors/judgment holders could still go after the current owner for the debts that created the liens in the first place. The soon to be former owner is not off the hook… just that the debt is no longer attached to the personal home.

In a short sale – any (or all) of the lien holders could refuse to cooperate – and kill the short sale. Since we’re talking about two separate absentee judgments and two separate state tax liens… I’m assuming the short sale is less than likely to go through.

[UCGal]

Ok – I’ve been googling (always a dangerous move)… I think I’ve figured it out.

If the home forecloses – since the first mortgage (the one foreclosing) is first in line, all the other liens get wiped out for the next owner… But the creditors/judgment holders could still go after the current owner for the debts that created the liens in the first place. The soon to be former owner is not off the hook… just that the debt is no longer attached to the personal home.

In a short sale – any (or all) of the lien holders could refuse to cooperate – and kill the short sale. Since we’re talking about two separate absentee judgments and two separate state tax liens… I’m assuming the short sale is less than likely to go through.

[UCGal]

Ok – I’ve been googling (always a dangerous move)… I think I’ve figured it out.

If the home forecloses – since the first mortgage (the one foreclosing) is first in line, all the other liens get wiped out for the next owner… But the creditors/judgment holders could still go after the current owner for the debts that created the liens in the first place. The soon to be former owner is not off the hook… just that the debt is no longer attached to the personal home.

In a short sale – any (or all) of the lien holders could refuse to cooperate – and kill the short sale. Since we’re talking about two separate absentee judgments and two separate state tax liens… I’m assuming the short sale is less than likely to go through.

[UCGal]

flu – your friends are fortunate to have higher taxes in retirement. It means they have very good assets. Not your typical boomers – since, as a demographic, they’ve UNDER saved for retirement from everything I read.

For the post boomers I think the pension thing is a non-issue… Most private employers have eliminated or frozen pensions. My employer froze it a while back and is now underfunding it so it’s no longer available for lump sum distribution. I think most folks 50 and under won’t see any negligable money in the form of pension.

As far as the no deductions – your friends did well – had kids young and paid off their house(s). I’m a little behind the curve on the kids – so I hope to still have deductions for kids when I retire. Unfortunately, that also means still having college expenses when I’m retired.

I still think my RMDs will be less than my current salary when I retire… but if my house is paid off my spending will be less… I’m not worried about being in a higher tax bracket.

[UCGal]

flu – your friends are fortunate to have higher taxes in retirement. It means they have very good assets. Not your typical boomers – since, as a demographic, they’ve UNDER saved for retirement from everything I read.

For the post boomers I think the pension thing is a non-issue… Most private employers have eliminated or frozen pensions. My employer froze it a while back and is now underfunding it so it’s no longer available for lump sum distribution. I think most folks 50 and under won’t see any negligable money in the form of pension.

As far as the no deductions – your friends did well – had kids young and paid off their house(s). I’m a little behind the curve on the kids – so I hope to still have deductions for kids when I retire. Unfortunately, that also means still having college expenses when I’m retired.

I still think my RMDs will be less than my current salary when I retire… but if my house is paid off my spending will be less… I’m not worried about being in a higher tax bracket.

[UCGal]

flu – your friends are fortunate to have higher taxes in retirement. It means they have very good assets. Not your typical boomers – since, as a demographic, they’ve UNDER saved for retirement from everything I read.

For the post boomers I think the pension thing is a non-issue… Most private employers have eliminated or frozen pensions. My employer froze it a while back and is now underfunding it so it’s no longer available for lump sum distribution. I think most folks 50 and under won’t see any negligable money in the form of pension.

As far as the no deductions – your friends did well – had kids young and paid off their house(s). I’m a little behind the curve on the kids – so I hope to still have deductions for kids when I retire. Unfortunately, that also means still having college expenses when I’m retired.

I still think my RMDs will be less than my current salary when I retire… but if my house is paid off my spending will be less… I’m not worried about being in a higher tax bracket.

[UCGal]

flu – your friends are fortunate to have higher taxes in retirement. It means they have very good assets. Not your typical boomers – since, as a demographic, they’ve UNDER saved for retirement from everything I read.

For the post boomers I think the pension thing is a non-issue… Most private employers have eliminated or frozen pensions. My employer froze it a while back and is now underfunding it so it’s no longer available for lump sum distribution. I think most folks 50 and under won’t see any negligable money in the form of pension.

As far as the no deductions – your friends did well – had kids young and paid off their house(s). I’m a little behind the curve on the kids – so I hope to still have deductions for kids when I retire. Unfortunately, that also means still having college expenses when I’m retired.

I still think my RMDs will be less than my current salary when I retire… but if my house is paid off my spending will be less… I’m not worried about being in a higher tax bracket.

[UCGal]

flu – your friends are fortunate to have higher taxes in retirement. It means they have very good assets. Not your typical boomers – since, as a demographic, they’ve UNDER saved for retirement from everything I read.

For the post boomers I think the pension thing is a non-issue… Most private employers have eliminated or frozen pensions. My employer froze it a while back and is now underfunding it so it’s no longer available for lump sum distribution. I think most folks 50 and under won’t see any negligable money in the form of pension.

As far as the no deductions – your friends did well – had kids young and paid off their house(s). I’m a little behind the curve on the kids – so I hope to still have deductions for kids when I retire. Unfortunately, that also means still having college expenses when I’m retired.

I still think my RMDs will be less than my current salary when I retire… but if my house is paid off my spending will be less… I’m not worried about being in a higher tax bracket.

[UCGal]

I’m also comfortable being on the low side of the insurance range.

Both my husband and I work. Our only debt is our house. Our retirement funds and 529’s are pretty well funded. Our thought was that if the survivor didn’t have the mortgage to worry about – they could afford to maintain the household (including daycare/after school care expenses) on a single income. We took our mortgage debt (which is our total debt) and added $100k.

So called experts and calculators have told me I needed insurance to pay off my house – when I was single with no kids. I laughed and said that my parents could sell it and my cats would have to fend for themselves. Why pay off my house if I was dead and no longer needed to live in it.

We’ll drop insurance when the house is paid for.

In the meantime – the money we’re saving by having smaller policies is going into the kids college funds.

Congrats on the pregnancy/growing family! Parenthood is pretty darn fulfilling.

[UCGal]

I’m also comfortable being on the low side of the insurance range.

Both my husband and I work. Our only debt is our house. Our retirement funds and 529’s are pretty well funded. Our thought was that if the survivor didn’t have the mortgage to worry about – they could afford to maintain the household (including daycare/after school care expenses) on a single income. We took our mortgage debt (which is our total debt) and added $100k.

So called experts and calculators have told me I needed insurance to pay off my house – when I was single with no kids. I laughed and said that my parents could sell it and my cats would have to fend for themselves. Why pay off my house if I was dead and no longer needed to live in it.

We’ll drop insurance when the house is paid for.

In the meantime – the money we’re saving by having smaller policies is going into the kids college funds.

Congrats on the pregnancy/growing family! Parenthood is pretty darn fulfilling.

[Author]

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