[UCGal]

[quote=meadandale]We all know that these people aren’t smart enough to be banking their mortgage payments in lieu of making the payments so I’d say that this assessment is pretty much spot on.
[/quote]

True story, real person, lives in another state:
* She’s a stay at home mom
* He’s had the same job for 15 years or so
* purchased home 11 years ago. Refied 7 years ago.
* got behind about 9 months ago. Had dispute with bank over penalties.
* Stopped paying 9 months ago.
* Trustee sale scheduled for next month.
* She’s freaking out.

2 months ago she asked me for advise. I asked if they’d applied for a loan mod. They had – they don’t qualify because mortgage is less than the 31% they push it to. (good news in my book – mortgage should be affordable.)
I asked if they were banking the mortgage payments they weren’t making – to either bring account current or for deposit on rental they’d be moving to… Nope – they can’t afford it.

Yes – the same mortgage payment they made for years… same income they’ve had for years… now they can’t afford it.

I concluded they’ve expanded their spending to absorb their mortgage payment money and like the free rent… but have no plan in place AT ALL for what to do when they get booted out of the house. And they will be booted out.

It’s hard to muster sympathy when there’s been no external factors (loss of job, illness, whatever) to put them in this position.

[UCGal]

[quote=meadandale]We all know that these people aren’t smart enough to be banking their mortgage payments in lieu of making the payments so I’d say that this assessment is pretty much spot on.
[/quote]

True story, real person, lives in another state:
* She’s a stay at home mom
* He’s had the same job for 15 years or so
* purchased home 11 years ago. Refied 7 years ago.
* got behind about 9 months ago. Had dispute with bank over penalties.
* Stopped paying 9 months ago.
* Trustee sale scheduled for next month.
* She’s freaking out.

2 months ago she asked me for advise. I asked if they’d applied for a loan mod. They had – they don’t qualify because mortgage is less than the 31% they push it to. (good news in my book – mortgage should be affordable.)
I asked if they were banking the mortgage payments they weren’t making – to either bring account current or for deposit on rental they’d be moving to… Nope – they can’t afford it.

Yes – the same mortgage payment they made for years… same income they’ve had for years… now they can’t afford it.

I concluded they’ve expanded their spending to absorb their mortgage payment money and like the free rent… but have no plan in place AT ALL for what to do when they get booted out of the house. And they will be booted out.

It’s hard to muster sympathy when there’s been no external factors (loss of job, illness, whatever) to put them in this position.

[UCGal]

[quote=meadandale]We all know that these people aren’t smart enough to be banking their mortgage payments in lieu of making the payments so I’d say that this assessment is pretty much spot on.
[/quote]

True story, real person, lives in another state:
* She’s a stay at home mom
* He’s had the same job for 15 years or so
* purchased home 11 years ago. Refied 7 years ago.
* got behind about 9 months ago. Had dispute with bank over penalties.
* Stopped paying 9 months ago.
* Trustee sale scheduled for next month.
* She’s freaking out.

2 months ago she asked me for advise. I asked if they’d applied for a loan mod. They had – they don’t qualify because mortgage is less than the 31% they push it to. (good news in my book – mortgage should be affordable.)
I asked if they were banking the mortgage payments they weren’t making – to either bring account current or for deposit on rental they’d be moving to… Nope – they can’t afford it.

Yes – the same mortgage payment they made for years… same income they’ve had for years… now they can’t afford it.

I concluded they’ve expanded their spending to absorb their mortgage payment money and like the free rent… but have no plan in place AT ALL for what to do when they get booted out of the house. And they will be booted out.

It’s hard to muster sympathy when there’s been no external factors (loss of job, illness, whatever) to put them in this position.

[UCGal]

Not a realtor but I agree with their Del Mar suggestion based on what you said your wife wants.

La Jolla is wonderful, but not crime free. And walkable to the beach gets really pricy or you’re in the more dense (therefore higher crimes) part of LJ. Anectdotal La Jolla crime story: my grandmother was walking from the League House (White Sands area) to LJ Presbyterian on a Sunday afternoon – she had her purse sliced/grabbed. La Jolla is not crime free – even in what appear to be very safe neighborhoods.

I like Rancho Santa Fe for the large lots sizes and feeling of space – but it’s not walkable to the beach.

Del Mar offers everything you described. All of my Del Martian friends love it.

[UCGal]

Not a realtor but I agree with their Del Mar suggestion based on what you said your wife wants.

La Jolla is wonderful, but not crime free. And walkable to the beach gets really pricy or you’re in the more dense (therefore higher crimes) part of LJ. Anectdotal La Jolla crime story: my grandmother was walking from the League House (White Sands area) to LJ Presbyterian on a Sunday afternoon – she had her purse sliced/grabbed. La Jolla is not crime free – even in what appear to be very safe neighborhoods.

I like Rancho Santa Fe for the large lots sizes and feeling of space – but it’s not walkable to the beach.

Del Mar offers everything you described. All of my Del Martian friends love it.

[UCGal]

Not a realtor but I agree with their Del Mar suggestion based on what you said your wife wants.

La Jolla is wonderful, but not crime free. And walkable to the beach gets really pricy or you’re in the more dense (therefore higher crimes) part of LJ. Anectdotal La Jolla crime story: my grandmother was walking from the League House (White Sands area) to LJ Presbyterian on a Sunday afternoon – she had her purse sliced/grabbed. La Jolla is not crime free – even in what appear to be very safe neighborhoods.

I like Rancho Santa Fe for the large lots sizes and feeling of space – but it’s not walkable to the beach.

Del Mar offers everything you described. All of my Del Martian friends love it.

[UCGal]

Not a realtor but I agree with their Del Mar suggestion based on what you said your wife wants.

La Jolla is wonderful, but not crime free. And walkable to the beach gets really pricy or you’re in the more dense (therefore higher crimes) part of LJ. Anectdotal La Jolla crime story: my grandmother was walking from the League House (White Sands area) to LJ Presbyterian on a Sunday afternoon – she had her purse sliced/grabbed. La Jolla is not crime free – even in what appear to be very safe neighborhoods.

I like Rancho Santa Fe for the large lots sizes and feeling of space – but it’s not walkable to the beach.

Del Mar offers everything you described. All of my Del Martian friends love it.

[UCGal]

Not a realtor but I agree with their Del Mar suggestion based on what you said your wife wants.

La Jolla is wonderful, but not crime free. And walkable to the beach gets really pricy or you’re in the more dense (therefore higher crimes) part of LJ. Anectdotal La Jolla crime story: my grandmother was walking from the League House (White Sands area) to LJ Presbyterian on a Sunday afternoon – she had her purse sliced/grabbed. La Jolla is not crime free – even in what appear to be very safe neighborhoods.

I like Rancho Santa Fe for the large lots sizes and feeling of space – but it’s not walkable to the beach.

Del Mar offers everything you described. All of my Del Martian friends love it.

[UCGal]

Thanks guys.

I’ll monitor the grant deed stuff (already doing that). I know it can take a while for stuff to get recorded.

Or perhaps it’s just the window. The previous date for trustee sale was 3/27 – so last week was within the window, this week isn’t. Next date isn’t till the end of May… so not in the window yet.

[UCGal]

Thanks guys.

I’ll monitor the grant deed stuff (already doing that). I know it can take a while for stuff to get recorded.

Or perhaps it’s just the window. The previous date for trustee sale was 3/27 – so last week was within the window, this week isn’t. Next date isn’t till the end of May… so not in the window yet.

[UCGal]

Thanks guys.

I’ll monitor the grant deed stuff (already doing that). I know it can take a while for stuff to get recorded.

Or perhaps it’s just the window. The previous date for trustee sale was 3/27 – so last week was within the window, this week isn’t. Next date isn’t till the end of May… so not in the window yet.

[UCGal]

Thanks guys.

I’ll monitor the grant deed stuff (already doing that). I know it can take a while for stuff to get recorded.

Or perhaps it’s just the window. The previous date for trustee sale was 3/27 – so last week was within the window, this week isn’t. Next date isn’t till the end of May… so not in the window yet.

[UCGal]

Thanks guys.

I’ll monitor the grant deed stuff (already doing that). I know it can take a while for stuff to get recorded.

Or perhaps it’s just the window. The previous date for trustee sale was 3/27 – so last week was within the window, this week isn’t. Next date isn’t till the end of May… so not in the window yet.

[UCGal]

[quote=briansd1]If you travel overseas to some countries, you’d know that cash is still king. The money changers charge you more for travelers’ cheques, ATM or CC. You have to pay transaction fees, conversion fees and commissions if you don’t use cash.

When I travel I always take crisp 100 dollar bills with me.[/quote]
I used to feel the same way – but currency exchange places charge to much.

I use the ATM or credit card. I notify my bank (ATM) and credit card companies ahead of time so the fraud department doesn’t freak out. Never had an issue and it’s WAY cheaper. Capital One used to (not sure if they still do) basically give you the overnight exchange rate with NO surcharges. Other credit card companies might have a 1% surcharge. Currency exchange places usually have 3-5% surcharge built into their rate.

[UCGal]

[quote=briansd1]If you travel overseas to some countries, you’d know that cash is still king. The money changers charge you more for travelers’ cheques, ATM or CC. You have to pay transaction fees, conversion fees and commissions if you don’t use cash.

When I travel I always take crisp 100 dollar bills with me.[/quote]
I used to feel the same way – but currency exchange places charge to much.

I use the ATM or credit card. I notify my bank (ATM) and credit card companies ahead of time so the fraud department doesn’t freak out. Never had an issue and it’s WAY cheaper. Capital One used to (not sure if they still do) basically give you the overnight exchange rate with NO surcharges. Other credit card companies might have a 1% surcharge. Currency exchange places usually have 3-5% surcharge built into their rate.

[Author]

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