Personal Finance Rent VS Buy In This Market - A Perspective From A Former Homeowner |
- Rent VS Buy In This Market - A Perspective From A Former Homeowner
- I’m quitting my job without another offer
- Renter with obscene electric bill - lesson learned
- Parents died within a month due to covid. No will, no assets, no pension, owe 350k on their house.
- Electric company isn't charging me for electricity.
- What To Do About Inherited Stigmatized Land
- What is Dave Ramsey's rationale for delaying investing until all debt is pay off, despite some investing having higher returns than debt interest rate?
- Am I calculating my wife's daycare discount correctly?
- Can I afford a higher COL if it means (literally) saving my sanity?
- My husband is in a psychiatric hospital. I have no clue how or when to pay our bills
- I have 8k in savings, I'm 20 years old and have no expenses. Should I have more than 2k invested?
- Debt collector won't put my settled amount in writing.
- I just opened up a Fidelity Roth IRA account
- Dad died, Aunt trying to bully us into paying taxes on his house
- I inherited a portfolio that has gone up around 54%. Do I need a financial advisor to manage it?
- More Savings than Investments
- Is it smart to pay off my car Loan even though it would cripple my savings?
- Father wants to gift proceeds of house sale
- which asset class do I choose for 401k?
- Debt was returned from collections to original creditor. Now what?
- Cars: Lease or buy used (with prices jumping 30%)
- Estranged Grandmother Wants My Info
- Can you quality for a mortgage without 2 years of employment history if you have a cosigner and your job is commission based?
- Safeco canceled my Homeowner's Insurance. What happens to my mortgage?
- I had a job at Rite Aid as a teenager. I was contributing to a 401k at that time. I haven’t worked there in 10+ years. What’s a good way to get ahold of this information?
| Rent VS Buy In This Market - A Perspective From A Former Homeowner Posted: 30 Jun 2021 11:52 AM PDT I posted most of what follows as a reply to a person over in /r/fire who almost immediately deleted their post. They talked about putting money into an "asset" vs burning their money with rent. I see a lot of people asking the question similar questions right now:
I bought my first home for my mother when I was around 23 or 24. It was in rural Maine and the entire purchase price was about 40K (not the down payment - the entire purchase price). The second home I bought was to start and raise a family. I was 29. What follows is my response to the now deleted post. If you haven't seen it, you should check out the NY Times - Is It Better To Rent Or Buy There are a lot of costs many people don't associate with home ownership - instead focusing on rent vs mortgage payment.
Another factor many people don't consider is the money that is lost buying and selling.
Another factor - which is a double edged sword because it cuts both ways - is how you feel about ownership. As an owner - you are literally responsible for everything (e.g. when the air conditioner breaks - it's on you to find a repair person, schedule the repair and pay for it. When inevitably something doesn't go right - it's on you to fight back and forth with the vendor to make it right). As a renter you don't have that same level of hassle and financial responsibility but you also have far fewer freedoms - want to change X - better ask the landlord. Another consideration I would take into account is looking at where you see yourself long term. Are you planning on moving later on or staying forever? Having recently sold my house (taking advantage of this insane market and renting for a couple of years ), I can tell you the stress of selling a house is far more than ending a lease. When you end a lease - you end it. With a home, both the buyer and most likely the bank have to agree to let you leave. Let that sink in. Things that you never thought of are now going to be the difference between you being able to leave - will it appraise high enough for the bank to lend the buyers the money, will they find evidence of termites - is there radon in the basement, etc. Owning a home is an asset but it is a depreciating asset if not invested in. While it is expected for the price of the home to increase over time, it doesn't do so by just sitting there. Not only do you have to pay for repairs, perform preventative maintenance, etc. but over time you will need to replace appliances as well as possibly even remodel. This is all time and energy that you need to invest just to keep your asset from depreciating. I recently sold my home after 16 years. I purchased at the peak of the last market (2005) and over paid for my home. I then invested an obscene amount of money doing a whole home renovation to make it the house I wanted to live in and raise a family. I just sold because market conditions told me there would never be a better time to get as much of money back out then I had paid in but when you compare all the mortgage interest, property taxes, HOA fees, homeowner's insurance, initial and refinance closing costs, major repairs, renovations, front foot assessment, etc. - Even selling at 100K more than when I bought it - I'm not sure if I would have been better off renting. The first time you find water in your basement and your insurance won't cover it because you don't have the appropriate rider in your policy - you can bet you will wish it was someone else's problem.
Now that I am on the other side of home ownership, I think buying a house makes sense in a couple of scenarios
The one thing I would not do is buy a place to "make my home" but do so believing it was an asset/investment. Mentally, this has too much opportunity to be an unpleasant roller coaster. Edit: For those that think I am saying renting is superior to home ownership - that's not the case. Nor is it the case that I am saying the inverse is true. In two years when my current lease is up, I intend to be a homeowner again (in a different state in a lower cost of living). My post was almost entirely a reply to an individual who asked for advice about becoming financially independent and retiring early. They had already run the numbers and knew that renting allowed them to invest more and achieve their goals but they were considering going against those numbers because they felt it was better to invest in an "asset" (their words, not mine). Edit 2: I know you're supposed to keep the discussion going or not abandon the discussion or whatever and I have tried to keep up reading what everyone has written and reply when applicable but I don't think I can keep up. Thanks! [link] [comments]  |
| I’m quitting my job without another offer Posted: 30 Jun 2021 11:22 AM PDT I hate my job. There's really no other way to put it. I've been here for 6 years with limited growth and now our recent leadership changes have made the culture something I don't care for. I used to love it, but now I seriously dread coming in every day. It's not a normal "my job sucks" kind of thing. It's more like "I hope I get hit by a bus so I don't have to go in today." I've been quasi looking and have had a couple interviews for analyst type positions. I have a bachelors in business administration and have experience as an office manager, operations manager and sales analyst. I make $52,000/year in a southeasternish state and I don't foresee having an incredibly difficult time landing something, but it has been hard to attend interviews, follow up, adjust my resume for each position and keep a look out for new opportunities while still working full time and managing a household. Side note: I'm a single mom with a busy teenage son. Here are my debts: $20,000 in student loans which are in COVID forbearance. My mortgage is $800. I purchased the house for $135,000 and owe $90,000 on it. It'll probably appraise for $180,000 or so. I have about $3,000 in credit card debt and a $15,000 personal loan which I used to buy my car and consolidate some old debt. The payment is $300 per month. I have just around $3,000 a month in necessary living expenses including paying the mortgage, loans, bills, and groceries. I have about $8,000 in liquid savings and access to like $90,000 of credit. I want to take a $15,000-$20,000 loan against my house. I don't know if it'll be a HELOC, home equity, or cash out refi. But I'd like to do it so I can quit my job and seriously focus on looking for something new and with a much higher pay scale. I'll also do some sort of certification in project management or business analytics while I'm out. I anticipate it being 2-3 months. I'd love any thoughts especially from others who have left jobs without having another! [link] [comments]  |
| Renter with obscene electric bill - lesson learned Posted: 30 Jun 2021 03:49 PM PDT I moved from one rented house to another in Jan 2021. It's. 1700 sq ft home in CA, typically never see freezing weather here. Anyways, the landlord had just remodeled everything and even out in one of those fancy nest thermostats. This house has central AC! I was stoked because I've never rented a place with AC. He showed me how to use the next app and how easy it was to work it. Sweet. Have a newborn baby in the house so the wife and I ran the heater basically 10 hours straight every night. Quickly realized the house has poor insulation as the living room would struggle to get warm but the rooms were fine. But that meant the heater rarely stopped through the night. I knew our bill would be high but I was OK with it as it was for our infant. As time passed I realized the utility bill was super low, like $60 a month (we were used to paying $150-250 a month). I thought this couldn't be right as we had been running the heater a lot. After some investigation, I realized that they had only been charging us for gas. Hmm, so I called them up and they said that's normal and that the electric bill will come eventually. We'll come it did! I got our first electric bill in May which accounted for a 4 month period. The total was a whopping $3,150. This couldn't be right. I started digging through our energy usage on the utilities web app. We somehow managed to use 210kwh in one day in January. Other days ranged from 100-180kwh per day. Shocking for our sized house. That first month we averaged $50 per day in electric usage! Turns out we have an electric pump heater and auxiliary heating coils (the source of the huge energy usage). The coils are only supposed to come on if it's extremely cold outside and the heat pump can't warm quick enough. Apparently you can set the coils to come on at certain temperatures through the next thermostat. Well our landlord set it up to always be on during heating. I had no idea about heat pumps and Aux heating coils before all this. And I would have caught it all sooner if we had received our bill in a timely manner. Moral of the story, be a responsible tenant and know what appliances you are dealing with when renting a new home. As renters, you tend to not care as much because you do not own any of them nor do you have the responsibility for maintaining them. Hope someone learns something from this and does not make the same mistake I did ! Edit: To those wondering how I can rack up 210kWh in a day and how it's possible to use so much energy. I've narrowed it down to the coils but I am not 100% sure as Im not an expert. Here are some facts from my investigation. -I'm able to see detailed energy usage for each hour of each day through utility data -hourly energy usage in winter shows consistent 10-12kwh during heating hours (10pm-8am) -high energy usage dropped to normal levels during spring when we stopped using the heater -today I turned on the heater and it defaults to AUX mode (coils on). Meter jumped by 14kW. -disabled AUX mode and turned heater on. Meter only jumped 4kW -concluded AUX mode using heating coils is the culprit. -landlord programmed thermostat to have AUX on when heat is turned on. We didn't know and therefore coils were always running. [link] [comments]  |
| Parents died within a month due to covid. No will, no assets, no pension, owe 350k on their house. Posted: 29 Jun 2021 09:17 PM PDT As the header says, that's the overall situation. I am 28 years old, my brother is 30. I have spoken with realtors, attorneys, and banks. The house and property in question is valued at 600k (if it was in good shape). However it's genuinely dilapidated. The estimates I've gotten are that short-selling is even going to be a good trick. I have a meeting with another realtor who happens to be a family friend. He's called title companies and estimated the property debt at 350k. Given the actual state of the house, I think it would probably be demolished and we should sell the items inside. (completely fine with me) But at this point my brother and I are essentially just trying to figure out how to remove ourselves from this and possibly not miss out on any money to be made from the property. The realtor is essentially telling me that the titles and debt will be signed over to me, which I'm understandably reticent about because I'm ~28 fuckin' years old~, I'm a bartender, I have no capital to put up to pay form attorney so I'm reliant on favors, and my parents died 28 days apart. There are no wills, no real legal ties to the debt, and my dad left us with a mountain of things that we have nothing to really do with. I could certainly call the banks and just give up the house, and I'm genuinely considering it. My brother has already shrugged and said "so be it" due to his mental health state after losing both of our parents so young, and so the task has mostly been relegated to me. ANYONE please offer any advice and explain like I'm 5 so I don't get bamboozled, or just let me know if I should walk away. [link] [comments]  |
| Electric company isn't charging me for electricity. Posted: 30 Jun 2021 06:56 AM PDT We recently bought our first home (yay!) It was a new construction so I moved all the utilities into our name as of our closing date. I received our first electric bill and noticed it was pretty low but just assumed it was a partial month billing from when it was put into our name and out of the builder's name. Our first full month bill arrived and again it was for a minimum amount, I looked closely at it and it said there was no Kwh usage being billed, we have obviously been using plenty of electricity! I called the electric company and told them I didn't think my service address was correct on my account, there is another meter a little away from the house which was previously used for a camper or something and that is the meter they are showing associated with our account. I emailed them both meter numbers and the one that is right next to the house they said they don't have in their system?? They were the ones who put the meter there and supplying the electricity! They said they were going to look into it but I haven't heard anything else. I just received another bill with no usage charged, just the minimum due. Am I going to receive a massive bill at some point?? Should I contact them again? I feel like I've done my due diligence but I know I'm not going to get away with not paying for electricity forever lol [link] [comments]  |
| What To Do About Inherited Stigmatized Land Posted: 30 Jun 2021 08:18 AM PDT I inherited my father's land when he passed there due to a landslide. This was in 2017, and I have had the land listed to some degree since. I originally listed it for what he paid for it prior to building (he didn't do so legally with permits, hence the landslide). Around $80k. The realtor then wanted 8% commission, and didn't get a single offer in a year. His firm specialized in higher end properties, and Idk why he took my listing considering he barely marketed it. I then relisted it with another firm for a year. They insisted they'd be able to sell it at a higher price. 10% commission. Again, ZERO offers. I'm trying to figure out wtf to do with this property. I want nothing to do with it- it brings back bad memories. I'm trying to figure out if I should roll the dice with another realtor, somehow auction it off or sell to one of those "we'll pay cash now" types of people. Anyone know the best way to offload a stigmatized property? [link] [comments]  |
| Posted: 29 Jun 2021 04:44 PM PDT Dave Ramsey strongly advises to pay off all debt before investing. But if someone has low-interest student debt and the possibility to invest with returns that exceed the student debt interest, why would he advise against that? Is there some math I am not seeing or is that just his personal philosophy? [link] [comments]  |
| Am I calculating my wife's daycare discount correctly? Posted: 30 Jun 2021 07:57 PM PDT My wife works for a daycare. Our kids attend there, and we get a hefty discount. She was complaining that they don't pay her enough (they truly don't, lol) but I told her that she should consider the discount we get in thinking if the money is worth it, because if she goes somewhere else, we'll have to pay more. This is my calculation, am I missing something or is this correct? She likes her job, so it's not that she's unhappy with the work, just the pay. Total daycare cost for the kids if we didn't get discount: $5195/month Cost to us with discount: $1455/month Savings: 5195-1455 = $3740/month 8 hours a day, about 22 work days in a month = 176 hours/month Savings hourly: 3740/176 = $21.25/hr But those savings are untaxed, so if she was getting paid that much extra she'd have to pay taxes. It would get taxed in the 24% bracket, so she'd have to make 21.25 / (1 - .24) = almost $28/hr more she would have to make at another job to make it worth it. Do these calculations make sense or did I miss something? [link] [comments]  |
| Can I afford a higher COL if it means (literally) saving my sanity? Posted: 30 Jun 2021 09:42 AM PDT Hi everyone. This post might be considered more mental health than financial health, but I still want to hear some outside opinions. I'm 26 and just started my first job out of grad school. I currently make 68k (about 50k after taxes) in an incredibly low COL area. I currently pay $350 in rent and about $100 in all other utilities and live 10 minutes from work. But, with this level of cheapness comes the sacrifice of basically everything else. I live in the middle of nowhere, about 45-60 minutes from even a grocery store. My apartment is about 250 sq feet, has unsafe drinking water, a roach and ant problem, and one singular window AC unit where the temps regularly reach 115+. I'm fucking miserable. I've been breaking down 2-3 times per day just absolutely sobbing over how bad this place is. I'm barely eating due to fear of insects, im constantly nervous that I'm going to run out of bottled water, my bathroom is disgusting. I just can't take it anymore. I'm on a month-to-month lease and I want to leave ASAP. The problem I'm facing is that my only other housing options require both a significant cost and commute (again due to how remote my work is). Average 1-2br apartments in the "decent" area would be approximately $1,150 plus utilities. I can stomach that, but on top of that is a 100 mile round trip commute PER DAY, which is going to add up fast both in terms of gas (currently $4.00/gal) and wear and tear on my car. So if I were to move and swallow the longer commute, I'm looking at about an added $1000 per month in living expenses between gas and rent alone. But, obviously, it comes with being able to breathe and actually enjoy my life. I'm just losing my mind here and need to know that it's okay to do this for myself. EDIT: I truly want to thank everyone who took the time to reply. If it wasn't obvious from this post, I've had a very, very rough adjustment and am seriously unwell from it all (mentally and emotionally). I'm going to see what I can do to improve my current living situation (i.e. talk to landlord about the bug problem and AC) while simultaneously looking for new living arrangements. You all really put into perspective how important a sense of security is, regardless of price. Thank you. Really. [link] [comments]  |
| My husband is in a psychiatric hospital. I have no clue how or when to pay our bills Posted: 30 Jun 2021 03:06 PM PDT Husband had a manic episode, is now in the hospital and getting transferred to a facility where he will stay and get treatment. There's a lot going on right now. He was the main contributor of our money. He paid the house, electrical, water, and gas bills. He also made the car payments. I would contribute money as needed. We got married recently and haven't looked at combining our accounts yet. I have no clue when or how to pay our bills. I don't know how to access his accounts. I'm totally lost - could use any advice on how to handle this. Edit: thank you to everyone for your advice. It makes me feel so much better to get some feedback [link] [comments]  |
| I have 8k in savings, I'm 20 years old and have no expenses. Should I have more than 2k invested? Posted: 30 Jun 2021 10:05 PM PDT Pretty much title. I'm in college and am very fortunate to not have to pay any loans, rent, auto expenses (no car), etc. I have about 8k just sitting in a very low interest savings account, and I wonder if I should have more than 2k of it in the market. I'll graduate in 2023 and will need money then, and currently have a (very) part time job where I earn about $200 per week, although I make more ($700 a week) in the summers-- So my annual "income" is near 5k. [link] [comments]  |
| Debt collector won't put my settled amount in writing. Posted: 30 Jun 2021 09:06 AM PDT I owe a relatively small amount to a hospital ($370) but I just can't fit it into my budget to pay it off right now. I asked for a reduction, and she said the hospital had already approved a reduction of 20% (putting it at about 296) seems fair, I can work that in. However, I told her that I would like that in writing before I pay it, and she said she's not sure that they can do that but she'd check and call me back. Is it foolish of me to ask/demand they get that number to me in writing before I pay it? I just don't want to pay that and it come back to bite me in that ass. [link] [comments]  |
| I just opened up a Fidelity Roth IRA account Posted: 30 Jun 2021 07:21 PM PDT Hey, so I just opened a Roth IRA after having an individual account on Fidelity for a few months. I'm 18 and thanks to the US education system I'm not super educated on investing so I was wondering what should I put my money on? I have $2000 right now that I'm fine with leaving and just forgetting about it. Any help in what to my money in would be greatly appreciated. [link] [comments]  |
| Dad died, Aunt trying to bully us into paying taxes on his house Posted: 30 Jun 2021 07:59 AM PDT My dad died unexpectedly a couple months ago. He left 2 houses in another state (OH) but lived with me in my state before he died. He splits the houses 50/50 with his sister. It was Joint tenancy so his name is still on the houses. My sister (28) and I (30) are young, barely making it and can't afford probate. Probate is automatically required to transfer to heirs in OH because he had real estate property. My aunt is calling and texting us, trying to bully us into paying the the taxes on one of the properties that she's for some reason deemed as "ours". The houses aren't in our names, they're still in my dad's name. She's refusing to pay taxes on "our" house, but paid taxes on the house she lives in. She's acting like both houses aren't split 50/50 but county records show both houses are 50% in Dad's name. She's threatening us. Her aunt (my great aunt) told us she was talking to a lawyer behind our backs because she wants to sell the house, but can't unless we open up probate. She's afraid it will go into foreclosure. I think my Aunt is trying to become executor and sell the house and keep the cash from us also, because she told me the housing market was bad. But my great aunt told me the housing market is so hot she's getting phone calls about her property day and night asking her to sell it. The houses are literally next door to each other.
IDK if this is the right place. Im sorry. Also, I talked to lawyers. I got 3 different responses: (1) pay me $12k to settle the estate (2) do nothing & wipe your hands of it (3) let it get foreclosed on. [link] [comments]  |
| I inherited a portfolio that has gone up around 54%. Do I need a financial advisor to manage it? Posted: 30 Jun 2021 07:50 AM PDT I inherited a portfolio in the six figures. It has gone up around 54%. Do I need to have a financial advisor manage it? I have been nervous about posting this, also why I'm using an alt account because I have inherited a lot of capital. My father passed going on two years ago. The stocks are all blue chip and have performed quite well and primarily in the tech sector. I have been self managing in TD Ameritrade thus far. I have a personal CPA for help with doing my taxes who tried pressuring me to sign the portfolio over to him. Recently I tried asking him tax advice/implications about my separate IRA I inherited which I used some funds out of and he got a little snark with me about not hiring him as a financial advisor. So far these stocks have performed amazing (1/5 is in Apple) and I didn't sign over mainly because having someone as a manager I feel would mainly want to do addition trades for commissions. I have been doing some trades by reinvesting with dividends. I have around 90 different position/stocks. The only reason why I feel I would need a manager would be if my positions suddenly lost value. I partly feel like the portfolio is "part of him". What do you guys feel is in my best interest? Thank you in advance! [link] [comments]  |
| Posted: 30 Jun 2021 10:05 PM PDT I have 3 times more savings than investments. My savings is now much larger than a three/ six month emergency fund. (This is because I didnt educate myself on personal finance till now. ) Im trying to figure out how to allocate this money for better returns. I have maxed out my Roth IRA and am on track to be close to maxing out my 401k this year. Should I invest the rest of my savings (up to where I only have a three / six month emergency fund left) in a relatively safe index fund like the sandp500 and also a little bit of the qqq etf? Should I just lump sum the money into the market or dollar cost average my way in? Im afraid the market is at an all time high though! [link] [comments]  |
| Is it smart to pay off my car Loan even though it would cripple my savings? Posted: 30 Jun 2021 06:12 PM PDT I've managed to bring my car loan down to 6k and I have another year left to pay it off, the daily interest is 96¢ a day. My savings is just about 7k today. Is it smart to just pay it off and put that $400+ car payment back into my savings monthly along with what I usually put in my savings to save up again? Or should I stay the course paying as I was or wait until I drop the loan down another few thousand? [link] [comments]  |
| Father wants to gift proceeds of house sale Posted: 30 Jun 2021 08:52 PM PDT My father (widower) had a medical emergency and is no longer able to care for himself. I have spent the last few months fixing up his home to sell so that he can move in with me in another state so that I can continue acting as his caretaker. He doesn't have much retirement and was unable to pay for the repairs and upgrades to get the house marketable for maximum value so I have been paying for these myself. He is wanting to "gift" me the proceeds of about 650k from the sale of the house by just having them deposit the funds into my account. House is paid off. Is this legal? Tax implications? What forms need to be filed? What is the best thing to do with the money? He does have social security of around 2300 a month and I can handle his other bills with my current employment. No credit card debt, my home is also paid off. We both live simply so this is a very large sum for both of us. Thank you [link] [comments]  |
| which asset class do I choose for 401k? Posted: 30 Jun 2021 10:21 PM PDT ok, so employer matches 6% on 50%.. you know what that means ( I barely do. only started reading about this yesterday) I'm thinking of putting 10% in 401k. I make more than I spend so I think it's ok. I should be fine doing this + 6k/year IRA. (dont know what IRA is yet or how to work with it, but it seems like it's next step in wiki) read some of wiki here but not all of it. I need to select asset classes.. I'm reading ppl seem to advise vanguard. I see 2 options: I'm in my 30ties. my goal is to save up for retirement. just a normal amount, don't really care for retiring earlier, or being aggressive or anything. I have 100k invested in side biz, and this is more to diversify in case things go horribly wrong in other areas. So I guess I'm ok to putting this money in there and not thinking about it for the next 30-40 years. [link] [comments]  |
| Debt was returned from collections to original creditor. Now what? Posted: 30 Jun 2021 07:33 PM PDT Hi all. I've been dealing with this situation for three years now, and I'm tired of being stressed out over it. Here's the background if that's important: in 2017, I was deployed for the military and as soon as I got home, I was getting out and starting college. Like, as soon as I got home and decompressed. I was signed up for classes, accepted the aid from FAFSA, and just needed to go into the university in person to verify my GI Bill or something. But sometimes life isntt that easy. My convoy hit an IED and I was injured as was my brain. I spent a lot of months seeing specialists, walking without aids, relearning communication, etc. I was medically retired from the military during all that. I had a few small federal loans I was paying on from when I tried to do school before the military, wnd those were completely forgiven because of everything. Im still in phys therapy and can't work. A year and a half ago, a debt collection agency sent me a letter that I owed the school for federal loans because I stupidly didn't even think to or was able to contact them before the semester cut off date about not being able to attend classes. (I did let them know when I got out of the hospital about three months after the classes started but it was too late to withdraw so they said my gpa would be basically 0 and that was it.) Anyway, I called the agency to figure out what was happening and they said since the university didn't receive my GI Bill info, they accepted FAFSA's aid amount of like $5,000 for me, but I didn't go, so the university had to give that money back to FAFSA and lost $5k, so they wanted me to pay it back. I was confused but I understand it's my fault that I didn't contact them soon enough, regardless of what my circumstances were. I explained my situation to the debt collector to get a payment plan setup, and they basically said oh… you're gonna need to talk to the university about that. And never contacted me again. Never tried to collect from me or even set up the payment plan like we talked about. They even took the debt off my credit report. Then 6 months later, it happened again with a new collector. As soon as I explained what happened, they said the same thing. But when I tried to talk to the university business department, they said that they couldn't communicate with me about it since the debt was sold to the collectors. Now, I got a letter from the university saying the debt was returned to them and I need to pay up, but they still won't talk to me about it when I call them. I get it was my fault, and I'm not trying to make excuses with what happened. My affairs weren't in order and they should have been. But now, what do I do? Sorry this is jumbled, thanks for advice. [link] [comments]  |
| Cars: Lease or buy used (with prices jumping 30%) Posted: 30 Jun 2021 09:56 PM PDT Hello everyone, Unfortunately my wife and I need to get another car. We are moving to the burbs and after being a one car family during the pandemic, we need to add another car to support our individual commutes. My question is: With used car prices skyrocketing and likely falling dramatically over the next 12 months, does it make sense to lease over than buy used? Any insight is appreciated! [link] [comments]  |
| Estranged Grandmother Wants My Info Posted: 30 Jun 2021 06:36 PM PDT Thanks for any input on this, I'll try to be thorough and answer any questions. My grandmother has never really acted like my grandmother. That whole side of the family is a bunch of people you just would not like to be associated with. She's had multiple strokes and illnesses and I don't want to believe her capable of messing me up but I don't want to just give up my info for someone else to get their hands on.. For the last three years she has been calling me on my birthday and saying she wants to sell the small property that she owns (? unable to be sure) with the trailer on it (presumably would own the trailer as well?), and that she wants me to have the money from that. She also dubiously mentions she's going to 'make her funeral arrangements'. She wants my birthdate, sometimes my SS, sometimes my address. This year she said specifically that she wants to put my name on her checking account at her credit union in Alabama (not sure about this either, I guess as the beneficiary?). I live in Georgia. I've never owned property before and I can't afford to take on any surprise property taxes or other financial surprises. As such I can't really afford to say no to any inheritance either, so I was hoping somebody might have some insight for me! [link] [comments]  |
| Posted: 30 Jun 2021 04:02 PM PDT Can you quality for a mortgage without 2 years of employment history if you have a cosigner and your job is commission based? I work in sales I will make approximately 40k this year. I have had my job for 11 months. I have been able to save up around 35k for a down payment on a rental property. Will be able to qualify for a mortgage? Will a cosigner help? I have a credit score around 730. [link] [comments]  |
| Safeco canceled my Homeowner's Insurance. What happens to my mortgage? Posted: 30 Jun 2021 09:12 PM PDT Hello PF, I just wanted to know your opinion after my current HO insurance canceled my policy (too many claims over the past 5 years). Over the past 3 weeks, I've been actively looking for an insurance company that would cover my house but I have no success. I contacted my insurance agency, and they kept ignoring my calls. Now that my policy is canceled, what will happen to my mortgage? Can I still get it insured now that it's canceled? Need your help so I could plan my next move. Thanks in advance! [link] [comments]  |
| Posted: 30 Jun 2021 10:05 AM PDT I'd like to see how much money is in the account and assess my options for rolling it over if possible. [link] [comments]  |
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