Do NOT set up one of those biweekly loan payment agreements with anyone who mails you about it. They get your info from public records when you buy, and sometimes even have your lender info on there, but it's not them. There's no reason to pay a third party to do this for you. You probably don't, but I would review the terms of it just as you would any other policy. I'm going to assume it's worse than regular life insurance. Also probably not, but you can call them and see what they say.
BingBlangBlaow said: Do NOT set up one of those biweekly loan payment agreements with anyone who mails you about it. They get your info from public records when you buy, and sometimes even have your lender info on there, but it's not them. There's no reason to pay a third party to do this for you. You probably don't, but I would review the terms of it just as you would any other policy. I'm going to assume it's worse than regular life insurance. Also probably not, but you can call them and see what they say. Hi BingBlangBlaow. Thanks for the feedback. I will stay away from these offers.
rustum said: BingBlangBlaow said: Do NOT set up one of those biweekly loan payment agreements with anyone who mails you about it. They get your info from public records when you buy, and sometimes even have your lender info on there, but it's not them. There's no reason to pay a third party to do this for you. You probably don't, but I would review the terms of it just as you would any other policy. I'm going to assume it's worse than regular life insurance. Also probably not, but you can call them and see what they say. Hi BingBlangBlaow. Thanks for the feedback. I will stay away from these offers.
It'a also something you can kinda do on your own, you just need the discipline to do it. Basically you're just adding an extra month's payment to principle over the course of a year. If you pay extra on a mortgage, you can always indicate to the bank that you want it applied to the principle otherwise they sometimes just apply it to next month's payment. There's usually no prepayment penalty on most mortgages so anytime you have extra money and feel like earning the fixed percentage of the mortgage, you can apply it to the principle.
Hi There,I am Jacob Jain,new here.From Florida of USA. This is very nice forum site for financial discussion.I heard Google announced e-mail money transfers for Google Wallet. What exactly this means and how this transformation can be done? Thanks in advance.
kenmoreland said: I just want to add to a nice explication that if you gift less than the annual amount, there is no filing requirement: gifts over that must be reported to the IRS on the proper forms.
The reason you fill out the form is so that the appropriate credit can be applied from the lifetime exclusion. You still pay no tax if you use the credit. Otherwise upon death they could audit past transactions and try to recover additional estate taxes in the event of a death.
Have there been any discussions in the past on FatWallet regarding Liberty Mutual? I use Geico for auto and when I inquired about home owners, I think Geico is an agent for Liberty.
I have a question about getting a mortgage on a new construction. We are really close to finishing the construction and I am looking for the final mortgage lender. The bank I have the construction loan through is thinking they will get the final loan too but I am thinking I should look around. They have quoted me 3.75 for the rate with about $5,000 in closing costs. The loan amount will be $200,000. The bank is Arvest.
I have read on these boards about people getting rates in the 2's with no closing costs. Is this possible for new construction too? Where do I look for lenders like this? I would appreciate any help or guidance. Thanks!
I refinanced my home with a local credit union a few months back. The problem is I do not get my billing statements from them until the 3rd week or so in the month and the payment is due on the first. I havent even gotten my due June 1st mortgage statement yet. I called the credit union and they said the statement was sent out from another state on the 15th The problem is I do travel on occasion and if I miss the window of 2 or 3 days of sending out the bill I could be late with my mortgage. In the 30 years or so I've had a mortgage I've always gotten the statement at the latest mid month. Is there a law or something giving me a certain amount of notice before the due date ?. I do not want to set up automatic billing with my mortgage because I like to look over the statements.
anyone have a good website to show the steps in buying a home without a Realtor? step by step process or forms I need to fill out. I did a google search but I couldn't find a decent website with everything. thanks y'all
chickenmumbo said: I refinanced my home with a local credit union a few months back. The problem is I do not get my billing statements from them until the 3rd week or so in the month and the payment is due on the first. I havent even gotten my due June 1st mortgage statement yet. I called the credit union and they said the statement was sent out from another state on the 15th The problem is I do travel on occasion and if I miss the window of 2 or 3 days of sending out the bill I could be late with my mortgage. In the 30 years or so I've had a mortgage I've always gotten the statement at the latest mid month. Is there a law or something giving me a certain amount of notice before the due date ?. I do not want to set up automatic billing with my mortgage because I like to look over the statements. Is it a fixed rate mortgage? If so, why do you need to review the statements? I am happy to have my mortgage payments on auto-pay.
Also, check to see whether you have a 15 day grace period. Your payment may not actually be due until the 15th, thus significantly mitigating this issue for you.
chickenmumbo said: I refinanced my home with a local credit union a few months back. The problem is I do not get my billing statements from them until the 3rd week or so in the month and the payment is due on the first. I havent even gotten my due June 1st mortgage statement yet. I called the credit union and they said the statement was sent out from another state on the 15th The problem is I do travel on occasion and if I miss the window of 2 or 3 days of sending out the bill I could be late with my mortgage. In the 30 years or so I've had a mortgage I've always gotten the statement at the latest mid month. Is there a law or something giving me a certain amount of notice before the due date ?. I do not want to set up automatic billing with my mortgage because I like to look over the statements.
Why wait for a paper statement? Can't you log on to their website and look at the payment due? Personally, I don't even want the paper statement. It's just one more thing to fill up my trash can.
titan01 said: anyone have a good website to show the steps in buying a home without a Realtor? step by step process or forms I need to fill out. I did a google search but I couldn't find a decent website with everything. thanks y'all
The home purchase steps can vary by state. You'd probably be fine with contacting a real estate attorney.
But the question is why are you trying to buy without a buyer's agent? In my state (DE), I don't have to pay the agent anything. They get commission from the seller, not from me as the buyer.
titan01 said: anyone have a good website to show the steps in buying a home without a Realtor? step by step process or forms I need to fill out. I did a google search but I couldn't find a decent website with everything. thanks y'all
My friend recently sold his place without a realtor. You definitely still want a real estate lawyer. They should be able to set you up with all the forms and what-not. (And they can work on an hourly rate, rather than a commission.)
henry33 said: It'a also something you can kinda do on your own, you just need the discipline to do it. Basically you're just adding an extra month's payment to principle over the course of a year. If you pay extra on a mortgage, you can always indicate to the bank that you want it applied to the principle otherwise they sometimes just apply it to next month's payment. There's usually no prepayment penalty on most mortgages so anytime you have extra money and feel like earning the fixed percentage of the mortgage, you can apply it to the principle.
Thanks Henry for the information. Our interest rate seems to be high by around 50points. We kinda did not do much of shopping around at the time of buying. We are thinking of refinancing down the line after accumulating some money for down payment. If possible, we are thinking about refinancing it to 15 - 20 years loan. Is it good idea to accumulate money until the refinancing or keep paying little to the existing loan.
Okay so the reason I have low credit limit is because I don't make a lot of money. I only made less than 30k a year How do the credit bureaus know how much money I make? Or anything like that? I can't get a single loan for a car and my credit score is 709 ...
So in a sense, how do they know how much money I make? So that I can put more money in there/show it that way so that they can raise my credit card limits and so on?
Lagron said: Okay so the reason I have low credit limit is because I don't make a lot of money. I only made less than 30k a year How do the credit bureaus know how much money I make? Or anything like that? I can't get a single loan for a car and my credit score is 709 ...
So in a sense, how do they know how much money I make? So that I can put more money in there/show it that way so that they can raise my credit card limits and so on?
How do your creditors know how much you make? Either you told them, or they got it from somewhere like The Work Number:
However, your income is not part of your credit report.
Your income also has no effect on your credit score. You can have a very low score and be a billionaire, or you can have a very high score without any income.
Lagron said: Okay so the reason I have low credit limit is because I don't make a lot of money. I only made less than 30k a year How do the credit bureaus know how much money I make? Or anything like that? I can't get a single loan for a car and my credit score is 709 ...
So in a sense, how do they know how much money I make? So that I can put more money in there/show it that way so that they can raise my credit card limits and so on? Your credit history may also be too short for them to want to give you a loan.
Lagron said: Okay so the reason I have low credit limit is because I don't make a lot of money. I only made less than 30k a year How do the credit bureaus know how much money I make? Or anything like that? I can't get a single loan for a car and my credit score is 709 ...
So in a sense, how do they know how much money I make? So that I can put more money in there/show it that way so that they can raise my credit card limits and so on?
They usually can kinda figure it out by asking what kind of work you do. When you apply you also put down your income. When you're making less than 30k a year, you'd never qualify for a 50k loan on a car no matter what your credit score is because a 30k salary isn't enough to cover the payments on a 50k loan. It might also be easier to qualify if you're buying a new car, factory financing might not be as strict with income. If you listen to other people here, you shouldn't really be buying a new car anyway, about 3/4 of the cars sold are used cars. You're getting sucked into marketing that's not really aimed at your income level. You should have enough saved so that you can pay cash for a used car. Cars are a depreciating asset, invest your money in appreciating assets, not take out a loan to buy a depreciating one.
My father passed away last year and my Mom is about to retire. She is 59 and now has roughly $1.3 million in liquid assets, with another $300k in home value. My father had handled all of the investment stuff for them and she has not much of a clue when it comes to investing. This spring I helped her go through a retirement review with Charles Schwab and it looks like she has plenty of assets to live on based on her current spending.
The assets are roughly as follows:
500k+ in father's old 401k (Vanguard) 200k+ in her 401k (Fidelity) 200k+ in her IRA (his old one has been rolled into hers) (Schwab) 100k+ in taxable brokerage (Schwab) 125k+ in savings (this large because of the life insurance payout, she had about 25k in savings before that) 100k+ lump sum pension when she retires July 1 (will be deposited to Schwab)
I am comfortable handling my own finances/investments but I am not comfortable handling hers, which she has asked me to. I do have limited PoA so I can trade on her behalf, but I would like to get a financial adviser on board to at least help plan long term strategy, asset allocation, taxable event stuff, etc. I am comfortable making rebalancing trades and allocation trades, I just am not comfortable making the decisions on where to put the money and how to invest it. It is too much money that is not mine for me to be responsible for right now.
That said, when we met with Schwab to review her assets, we discussed their different levels of money management. Basically, as much or as little as we want, which is what I expected. My brother in law used to work for a major wealth management firm, and said he would recommend his old partners, but she wouldn't really be on their radar with only 7 figures in assets so she wouldn't get enough attention from them.
Any advice on where to look for a financial adviser, what I should be looking for, and what type of wealth management would be best for her? Thanks!
Edit: Two other things 1) She will be putting the house on the market later this year to move closer to my family and my brother's, and either renting or buying. But based on the differences in the RE markets, I am assuming a wash in terms of selling her current house v buying a new one even if she goes to a smaller property. 2) We have not done any adjustments or reallocations to the accounts since he passed last August. They are definitely due for some rebalancing (and probably selling off the individual stocks he had invested in to move the money to broad market funds).
If I get a 5% CashBack card and then buy something super cheap (let's say $0.50) but get $100 Cash Back at the register, will I basically be getting a free item plus ~$4.50 cash?
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