Personal Finance My mother used my ssn to change my irs information and steal my EIP |
- My mother used my ssn to change my irs information and steal my EIP
- How to negotiate salary for a new job, when a pay-cut is ok?
- Hertz rentals ripping me off
- Is it worth getting a job offer in the hopes of a raise with current employer, if I don't actually intend to leave? Too deceptive? Too risky?
- Just began a Roth IRA
- What's the reason I get diminishing returns the more I overpay on my mortgage?
- 23, want to buy a house next year but maybe I shouldn’t?
- New employer has a 100% 401k match. Divert wife's contributions there?
- Mailroom at apartment got robbed, what are my options?
- Joined company as remote employee, but employer doesn't have health insurance plans that service my area
- Is it a bad time to buy a house right now?
- Was just denied financial assistance for a master's degree from my job, looking for alternatives
- Is this a case of identity theft?
- Is it normal for credit card companies to be notified if I move my phone number between carriers?
- American Express won't let me pay an outstanding bill.
- 1099 making 100 HR+!!! Need to hear from experienced people!
- Should I stay at home or move out?
- Accountant didn't fill out the right document when filing my taxes and now ignoring my calls.
- Parents want to give me 400/month to cover funeral costs
- Is it time to prioritize money over work culture?
- Chase vs. credit union?
- First Timer Buying Land & Building Home
| My mother used my ssn to change my irs information and steal my EIP Posted: 05 Aug 2021 03:56 PM PDT My mother stole my SSN and Economic Impact Payments. I need help trying to find out what to do. My mother used my SSN to collect my stimulus checks. All of them. And unfortunately due to everyone wanting to get paid, I can't get ahold of anyone. The police won't help, the irs doesn't have an open phone. What can I do? She's also doing this to my disabled sister. Help. TYIA. Edit: Thanks to everyone for posting. To add info, you all do realize how scary it is to have the police against you? Follow you? Help the ex-husband of your fiancé? I had an incident where the police (my fiancé's ex-husbands friends) showed up at my house at 11 PM, without informing dispatch or anyone (we checked), saying I had robbed my mothers house. My fiancé and sister weren't supposed to be there to verify where I was the entire weekend, and this officer has a history of making every thing an "altercation."… idk if that tell you anything about where I'm at. [link] [comments]  |
| How to negotiate salary for a new job, when a pay-cut is ok? Posted: 05 Aug 2021 05:40 AM PDT My wife currently makes about $102k but hates her gig. She is the youngest manager in her company, presents to the CEO, and generally kills it, but hates the way she is treated and being a manager is not for her. Also, she is going back into the office now (2-3days a week) and the commute is near an hour. She has been applying to jobs closer, or virtual only. One promising one is 10min commute with a large hospital in their corporate offices. She is fine taking a pay cut and dropping down to $85k or even $80k if it feels right. However, she is nervous because they ask how much she makes now. She thinks they will see her current salary and cut her out from the get go as she is deemed "too expensive". Is that a thing? Is there a way for her to bring this up without saying "I am fine making less" and hoping they do not low ball you? Also, as two people who really never looked for jobs in a traditional sense, what are some of the ancillary benefits she should consider of great value? Is there anything besides health insurance, 401k match, and vaca time that she should focus on? Thanks! Edit: First, thank you all for the responses. To clarify some points, I know that it is illegal to ask this in some states, but that does not change the fact that they did ask it. Second, this was asked on a standard form application, not in an interview. It only let her input numbers. Third, she is looking for a job that is not managerial in nature. She is not underselling herself, but knows that she is looking for a less demanding job and effectively a demotion from her current position, so she expects a haircut. I keep telling her she likely can move and keep same pay, if not get more, but she grew up with a single mom making $30k/yr, so she thinks all of this is "too much" and that she is overpaid. [link] [comments]  |
| Posted: 05 Aug 2021 04:18 PM PDT Hello all for context me and my girlfriend prepaid a rental for 6 days for a Range Rover at a total of $770. when we got there we were told we couldn't have it and the best they could do is a Chrysler 300s. We were not given a refund or anything like that to make up for it. I called their customer support and tried multiple times because they kept hanging up on me, 2 of the 5 people I talked to said some how the Chrysler would've been more than the RR even though I checked and the RR was almost 2x the amount per week. 1 person said it should've been 3200 for the week for the Chrysler and we should just drop it so we don't get charged. Is that a attempt to get us to go away and stop trying? I eventually found corporate email and now am trying to get in contact with them. Any advice thanks. [link] [comments]  |
| Posted: 05 Aug 2021 10:00 AM PDT I love where I work. Good schedule, great benefits, I'm treated well and am well liked. I have a good deal of responsibility, and my employer would be hurting if I left, operations wise. I'm in a niche market where I'm not easily replaced (funeral service). I'm paid slightly below market rate, but not egregiously. I could probably pull $5-10k more if I theoretically left, currently make $45k. I'm able to save for retirement and generally meet my financial goals, but more is always nice. I get lots of messages from recruiters via Indeed and LinkedIn. Our competitor has even attempted to poach me, but couldn't match benefits. In this thirsty job market, is it worth getting a job offer in hand, just to attempt to negotiate a pay bump? I'm not at the point where I'm willing to play hardball and actually leave, and they could likely call my bluff. Has anyone ever done this? Too risky to attempt? Too deceptive/rude towards the offering company? [link] [comments]  |
| Posted: 05 Aug 2021 11:17 AM PDT I'm 22 years old with a stable job, and I just opened up a Roth IRA account through Vanguard. I put $3k into VTSAX, and I plan to attempt to put the max in every year. I'm looking for a set and forget retirement method. Should I do anything different or will this be sufficient to continue doing? [link] [comments]  |
| What's the reason I get diminishing returns the more I overpay on my mortgage? Posted: 05 Aug 2021 01:45 PM PDT I notice when I do the math and apply an extra $100 to my mortgage payments I save $16k and four years off the life of the loan. When I add $200 it doesn't double that amount, it only increases by .75 times the original. I'm not good enough at math to understand why that phenomenon happens, though. Can anyone explain it to me? [link] [comments]  |
| 23, want to buy a house next year but maybe I shouldn’t? Posted: 05 Aug 2021 06:45 PM PDT Hello. So as the title says I'm a 23 y/o female and currently live with my parents. I've been aggressively saving most of my paycheck because I want to have 30k saved by next August to buy a house. After calculating my income for next year— I arrive at $2,365 take home pay after pre-tax retirement plan and health insurance (work for the county so great benefits, low salary 🥲) According to that salary, after my estimated bills (groceries, electricity, water etc), mortgage and savings (according to my previous experience living alone in a 1000 SQFT home) I should have around $500 left over to spend from my paycheck. This would cover going out, eating out, buying inessential things (not a big spender). I guess I'm just worried this is a really bad idea and that's not enough money for me to survive… I also have been doing a lot of research and I definitely want and need my starter home to be under $135k which is about average where I'm from. According to my calculations (and google) the mortgage payment with taxes and insurance should be about $850. It's just going to be me and my two small dogs. I'm not a big spender which is what gives me confidence that I'll be ok but I don't want to be miserable either. Does anyone have any advice/input/possibly similar experience? Thanks in advance! [link] [comments]  |
| New employer has a 100% 401k match. Divert wife's contributions there? Posted: 04 Aug 2021 07:58 PM PDT Changing jobs and my new employer offers 100% 401k matching, up to 25% of your salary. Our overall financial picture is pretty cut and dry. Mid-upper 30s, 2 kids. Only debt is the mortgage. 6+ months emergency fund. $100k in non-retirement investments. Roughly $500k in combined retirement investments. Both working and making regular contributions to both employer-sponsored retirement plans and individual accounts. We are considering diverting some/all of the regular cash flow we normally budget towards my wife's traditional IRA to my new 401k to take advantage of the 100% match (we still wouldn't get to 25% of my salary). The downside here is reducing the retirement assets in her name. Beyond the potential ramifications during a divorce, are there any landmines with this strategy I'm not seeing? EDIT: To clarify, it's "100% of the first 25% of the participants compensation". Since individual contributions are capped at $19.5k, the company match is also effectively capped at $19.5K (even though the IRS limit is substantially higher). The employer contribution goes to zero once the employee is putting in 25% of their salary -OR- $19.5k. At my current salary I would hit the dollar cap before the percentage cap. [link] [comments]  |
| Mailroom at apartment got robbed, what are my options? Posted: 05 Aug 2021 07:32 AM PDT So I had ordered some items around $80, they were delivered by USPS. When I went to pick it up I found out that it wasn't there and mail room had gotten robbed so some of the packages were missing. Card I used didn't have purchase protection and usps did their part. I believe my apartment does collect home owner/ renters insurance, could I ask them to claim under their policy or just take a loss of an item? I have my personal renter insurance but the deductible is 250, so I can't use it in this case. [link] [comments]  |
| Posted: 05 Aug 2021 09:58 AM PDT I recently joined a startup as a software engineer. The company is based out of San Francisco, but I am a remote employee in Seattle. I joined with the expectation that I would get health care coverage, but it turns out all of the health plans offered by my employer do not provide service anywhere in Washington. What are my options? I am young (mid 20s) and healthy. I could take the coverage anyway, and if I needed to visit a doctor, I would need to go to SF. I may end up going there a few times a year anyway. If I had an emergency though I think I would be screwed. Is it worth buying private insurance? Finally, I am curious what I should tell my employer. It is possible they don't know their plans don't service my area. I was also led to believe I would be able to get insurance through them. Technically I can, but it seems mostly useless, so I don't know whether or not I should press the issue and try to get some kind of reimbursement if I decided to go down the private health insurance route. Thoughts? [link] [comments]  |
| Is it a bad time to buy a house right now? Posted: 05 Aug 2021 06:27 PM PDT Is it a bad time to buy a house right now? Should I wait to buy a house? If so, for how long? I've been wanting to buy a house buy I've been told and adviced by friends to not buy right now because its too expensive. But i would really like a house. But i dont wanna overpay for a house or miss out on a house i could have but couldnt get becsuse of the price increase. I need advice. I am looking to buy a house in texas. [link] [comments]  |
| Was just denied financial assistance for a master's degree from my job, looking for alternatives Posted: 05 Aug 2021 12:25 PM PDT Hi everyone, I'm in a bit of a pickle. I work as an engineer and my company supports employees pursuing further education, so I applied for a master's degree. Before applying I sent the curriculum of the particular program I was looking into to my boss and got the OK. I paid to take my GRE, paid the application fees, and got accepted to the program. My manager, higher up than my boss, expressed some concern about timing of classes and relevance of the material to the work I do. I presented some information I had about the degree to address the concerns and got verbal consent to pursue the degree. After that meeting, I enrolled and put down a deposit at the school. A week later, my manager emailed me to let me know that he had reconsidered, and would have to think about the decision more. I met with advisors and professors from the program to get assurance that the course load was manageable by full time employees and relevant to the work that I do. Even after presenting my manager with all this information, he finally said that he couldn't approve the program for me, three weeks before classes start. I could unenroll in this program and pursue something else, but this whole process has left a very sour taste in my mouth for my company and I am very passionate about what I'd be learning in this program. Not to mention, obtaining this degree would set me up to have a lot more job mobility. At this point I think it makes a lot more sense in the long run for me to quit my job and try to complete this degree in a much faster time frame. My issue is paying for the degree and cost of living. I have some money in savings but not enough to get by for the next 2 years, about $10,000. I currently live in a house that I own, and I rent out 3 of the rooms which covers my mortgage and then a little bit more, but I cover all the utilities. I also pay $275 a month on a car loan that will be paid off in a year and a half. I'm trying to figure out what the best way to manage the next two years is. I would need to take out a loan to at least pay for the first semester of school, until I can figure out any scholarship, grant, or fellowship situations. I'm a bit screwed in financials because of how close it is to the start of classes now, which is why I'm so upset that this denial was dragged out as long as it was. What I would like to generally ask here is if anyone has any ideas or tips for paying for school or living expenses while in school. I'm looking into deferring my acceptance for the program to next semester but it may be too late for that as well. I can try to find a job that would be more willing to finance the degree, or at least find part time work while in school, but I'd just like to get some secondary opinions on the whole situation. Any help is greatly appreciated! [link] [comments]  |
| Is this a case of identity theft? Posted: 05 Aug 2021 01:44 PM PDT About six months ago I was checking my credit karma account, and noticed a debt in collections I didn't recognize from AT&T Mobility from some company in Texas called Credence for $2,600. I disputed it, and it was removed from my credit report after 30 days. I thought that was the end of it. I have never received calls or emails about this debt. Last week it is reported on TransUnion again, so I disputed it again. Then I got a fraud packet in the mail from them requesting all of my personal information. I thought you were not supposed to give collections companies this kind of information. Today I look and it's been removed from my report again. I tried calling AT&T and all they could tell me was that there was an account with my name, no other details. Do I need to go through all the steps for identity theft? There's nothing else suspicious on my report just this I am very worried, and not sure what to do now. [link] [comments]  |
| Is it normal for credit card companies to be notified if I move my phone number between carriers? Posted: 05 Aug 2021 12:42 PM PDT Earlier this week I ported my phone number away from a wireless carrier to Google Fi as I will be traveling abroad. I still have the same number, but I received an email from my Target Redcard that they removed my phone number from my account with them because " Your carrier notified us that your mobile phone number has been deactivated." This seems odd and a bit of a privacy issue... is this normal? [link] [comments]  |
| American Express won't let me pay an outstanding bill. Posted: 05 Aug 2021 04:37 PM PDT Hello all, I'm using a throwaway because it's a financial situation that I don't really want to share with my friends. ~~~ TLDR ~~~ American Express reports to the credit bureau that I owe them money, but they won't allow me to pay them. American Express says that a third party owns the account. The third party says it's owned by a law firm. Then the law firm says it's owned by American Express. I've never worked so hard to give a debt collector thousands of dollars. ~~~ BACKGROUND STORY ~~~ I had a credit card through American Express with a $10k limit way back in 2015. I was going to school and had your average college kid part-time job. However, once my roommate moved out, literally ALL of the money from my job was going to rent. I was paid by the week, and I would have to wait until the first week of the month to pay rent that was due back on the 1st. Food, gas, and everything else was put on the credit card. I ended up maxing out the card, and couldn't make the monthly payment. Eventually the card was cancelled by AmEx and was getting calls all the time from them. It was an extremely dark time in my life, and I stopped answering any phone calls. I have been progressively getting my shit together over the years, and now have the funds to pay the outstanding balance in full. Even though the account was closed in Dec 2015, it wasn't until Sep 2018 when they started reporting it to the credit bureau as a "Charge Off," and have been reporting it as such to this day. Out of all the financial blunders that occurred way back in 2015, this is the one that is still actively killing my credit score. Since I want to purchase a house in the relatively near future, I need to pay this balance off. ~~~ INITIAL CALL TO AMEX: "Outsourced to 3rd-Party, call them" ~~~ I called up American Express, and the representative said that my account was being handled by a 3rd party organization (American Recovery Services Inc {ARSI}). I was told to call ARSI in order to make the payment, and that AmEx couldn't take payment. ~~~ INITAL CALL TO 3rd PARTY: "Call Legal Office" ~~~ So then I call up ARSI, and explained to them that I had an outstanding balance with AmEx that I wished to pay off. I was told by the ARSI rep that they no longer had the account. They said that they had transferred the account to "Patenaude & Felix Law Office," and that the account had been closed on their end. They also stated that they couldn't accept payment for the account since it no longer belonged to them, but that the legal office would "100% be able to take care of it." ~~~ INITAL CALL TO LEGAL OFFICE: "Call American Express" ~~~ I decided to drive over to the legal office since they have an office here in Las Vegas. However, the legal firm isn't listed on the building's directory, and there is also a completely different business in the suite that they claim to be located in. Not a big deal, I figured that they probably moved recently. So I call several phone numbers for the local office, and all of them go straight to voicemail. I assumed that I must have the wrong address, so I called their main branch in San Diego. The rep at the main branch gave me the same exact phone number and address. When I tried saying that I was physically at the location and that the phone number went straight to voicemail, the rep said that was the only information that she had. I had to make sure I wasn't in the wrong spot, so I walked around the building and absolutely made sure that the office wasn't there. It wasn't a big deal that I couldn't find the office since I was told that I could talk with a rep and pay over the phone. So I call back to the main branch location, and get transferred to whoever deals with processing accounts. However, they said that they transferred the account back to American Express, and that they couldn't accept payment since they no longer owned the account. They tell me that I need to call American Express to find out who owns the account. ~~ SECOND CALL TO AMERICAN EXPRESS: "Call 3rd Party again..." ~~~ So I call American Express again... I explained the circle I just went through, and they were adamant that they couldn't accept my payment because the account belonged to ARSI. I asked why then is American Express reporting a monthly Charge Off if they don't own the account, and the answer was that this 3rd party reports the payment to them. I was then told that there was nothing that AmEx could do, and to call ARSI. ~~~ SECOND CALL TO 3rd PARTY & SECOND CALL TO LEGAL OFFICE ~~~ So I call ARSI again... They say, once again, that they absolutely can't take any payment because the account was closed. They say, once again, that they transferred the account to the law office. So then I call the law office again... Same thing. They then give me the same phone number that I have been using to call American Express. ~~~ THIRD CALL TO AMEX: "Call the Legal Office with me on the phone" -AMEX Rep ~~~ So I call the AmEx Credit Bureau and explain how I've gone through this circle twice. Surprisingly, the AmEx rep says that they can take the payment, but they first need to make sure that the legal office doesn't still have ownership of the account. The rep says that she needs to be on the phone with me when I call the legal office to verify that they no longer own the account. So she has me call the legal office, merge the call, and once again talk to a rep just to be told that they don't own the account. The legal office rep said something like "we closed the account, and forwarded it to American Express. They might have once again forwarded it to ARSI, but you'll have to call them." The AmEx rep spoke up to acknowledge that she was already on the line, and asked once again if the payment could be processed through them. The legal rep said something like "no, but ARSI probably has the account if AmEx doesn't have it. They should be able to process the account." ~~~ THIRD CALL TO 3rd PARTY: "Legal office said call 3rd Party. Call with me on the phone" -AMEX Rep / "3RD PARTY SAID THAT LEGAL OFFICE CAN HANDLE IT" -AMEX Rep ~~~ After the legal rep hung up, the AmEx rep said "well it sounds like ARSI will be able to process your payment." So then I call ARSI while the AmEx rep is on the line. Once again, ARSI says they don't have the account, but that I can call the legal office to make a payment. After the ARSI rep hung up (and I wish I was kidding about this) the AmEx rep said "it sounds like you need to call the legal office to make a payment." THE SAME LAW FIRM THAT WE JUST CALLED BEFORE CALLING ARSI. After reminding her of the perpetual cycle that we were in, she put me on hold to find out how to handle the situation. ~~~ WAIT AND SEE ~~~ She came back on the line, and said that she has forwarded the account details to the "Research and Recovery" department within American Express, and that I should be able to make a payment after 72 hours to "allow the system to reset." She also gave me a new number to call. I ended up calling the new number roughly 7 hours later just to check on the status (and also because I'm not confident that it will be resolved by Monday). Come to find out, it's just a different number that has almost the same menu options as before. I was able to connect with an AmEx rep, and once again they said that I needed to call ARSI to make a payment... I explained that I was told that my account was supposedly forwarded to the "Research and Recovery" department. The new rep then said that she "saw that note" about the situation. I'll wait the 72 hours, but I would bet the money I owe that it won't be resolved. ~~~ WTF ~~~ Has anyone here ever heard of a situation like this? I can't prevent American Express from reporting a "Charge Off" on my credit report until I pay off the outstanding balance, but American Express has so far refused to let me pay them. It just seemed like a bizarre situation, and I wanted to share it here. I would love anyone's input. [link] [comments]  |
| 1099 making 100 HR+!!! Need to hear from experienced people! Posted: 05 Aug 2021 06:07 PM PDT Hey everyone! So been a W2 worker since I started working at 18. Ive always kept hustling and looking for opportunities, so in a nut shell Im am RN working ER currently my W2 main job with benefits pays above 40 an hour which for an RN in LA is laughable but I'm humble because I will never forget minimum wage and the struggles, sweat, tears, up and many downs it took to get here. So I work 1 shift (1099) and I make my weeks pay (W2), I'm very spontaneous and part of me is going to quit my W2 and do 4 shifts per week at 1099 and triple my annual salary. For people that have made the jump from W2, how do you do health insurance, taxes etc... I have 2 babies and a partner to care for so I have to be very careful because it affects them. My goal is to use this tripling of income, pay off debt and my mortgage about 500k in all and set up investments for FIRE. [link] [comments]  |
| Should I stay at home or move out? Posted: 05 Aug 2021 08:45 AM PDT I'm about to be 25, I graduated from college in 2019 and have been working and living at home with my parents since then. I've been able to save up a good amount while doing this and pay off a bit of my loans. I still have about $55k left in student loans. The thing is, I'm really missing the independence I had when I was living by myself or with friends at school. I miss being in the city and being able to see my friends easily. And dating has been a LOT harder while living at home. So is the quality of life worth it to move out and be closer to the city? I still have a good chunk of loans left and rent where I live would be $1200-1600 a month. I have a pretty good job so I can afford paying my loans and rent, but I don't want to regret not waiting and saving more. [link] [comments]  |
| Accountant didn't fill out the right document when filing my taxes and now ignoring my calls. Posted: 05 Aug 2021 06:53 PM PDT I moved from NYC to NJ, but since the Accountant didn't fill out the proper paperwork NYC recalculated all my income for 2020 as if it was earned in NYC. I called and figured out the forms that I need to fill out but don't know how to approach finding a trusted accountant to help me. [link] [comments]  |
| Parents want to give me 400/month to cover funeral costs Posted: 05 Aug 2021 09:46 AM PDT My parents want to give me 400 a month to cover their funeral costs for when the time comes. They don't have life insurance and at this stage of the game(they're mid 60's) it costs too much. I'd like to invest that money. What are my options? Edit: Thank you for all your responses. Let me give you the back story. My parents weren't the best when growing up, me and my sister were sent with other relatives to live, you know typical bad parents. Anyways as the years gone by we have been making amends they're still too broke to leave us an inheritance, and I'm guessing this is their way of giving back while they're still alive. When I spoke to my mom yesterday she hit me with this and I'm thinking in giving it to my sister as she has a child and I don't [link] [comments]  |
| Is it time to prioritize money over work culture? Posted: 05 Aug 2021 02:02 PM PDT Hi all, I am a recent graduate of a small public university in the southeast. I graduated a year ago into the pandemic and took a job with a tech company that I had spent the previous year interning with. Due to the bad job market, I took the full time offer from the company ($33K a year, with benefits that I declined due to them not being as strong as my parents). The company culture is great, my stress level is low, and there's a good work/life balance. I love the employees and consider my managers to be friends. But now comes the hard truth. Despite being full time, that salary hasn't enabled much financial freedom. I live in a suburb 15 minutes outside of a mid-sized to big city. I practically live like I'm still in college, living with two roommates in a small apartment paying about $500 a month in rent for a place that's nothing special. The area I live in has become extremely desirable in recent years, driving prices through the roof for all of the rentals near me. I drive an older beater car that I had in college, don't go out very often, and watch my budget like a hawk. Food is always on the table, rent is always on time, and I don't "struggle" but I can't really save after all of my fixed costs are paid for, and for living so cheaply I still feel like I can't get ahead. I figured watching my spending so closely would help me get a jump on my loans, build savings, and have some sort of independence but that's not the case with what I make now. I owe a relatively small amount in student loans, and I'm not burdened or crushed by the debt, I just want to pay it off at a faster rate than I am. I love the company, love the people, love what I do, but I don't want to live like this forever. Due to the small nature of the company, advancement is extremely limited and my manager isn't making significantly more than I am. I have enough to be happy, but I can't get ahead, go on vacation, or have any nice, new expensive things. I don't want to live some crazy lavish lifestyle, but I'd love to get to the point where I'm not literally paycheck to paycheck. I have a business degree and have skills that are in demand that I know I can make high 40s, low 50s at another company if I fell into the right thing. A raise has been discussed but the company can't make it happen, and having seen company financials I completely understand that they're doing what they can, they just can't go much higher. I work in a small team so advancement is really limited, and my manager is not making significantly more than me. Is it time for me to make the money as important if not more important than my current job culture and feeling? [link] [comments]  |
| Posted: 05 Aug 2021 12:39 PM PDT Hi Everyone. I have had a chase college account for my checking and savings for the last 10ish years. Now that I'm done with all my schooling and training I'm contemplating moving to a credit union. I think they offer higher interest on savings and no atm fees which I think is reason alone to make the switch. What does everyone think? Will closing my chase adversely affect my credit? Any reason to stick with chase? [link] [comments]  |
| First Timer Buying Land & Building Home Posted: 05 Aug 2021 05:45 PM PDT My wife and I are looking to purchase land and build a home in the next year or two. This is our first time with this process and I am hoping to get some feedback on our plan to make sure I am thinking through this correctly. I appreciate any help and feedback. We are looking to purchase land now, then build either in 2022 or 2023. We currently own a home, purchased in 2016, that we have renovated extensively and as a result have established decent equity (imo) during the relatively short time. Our background:
Land Purchase:
Home Build:
My main question - does this financial process make sense, or are there any red flags I am missing:
I believe this process makes sense, and is a smart decision, but again being our first time I was hoping to get some additional feedback to ensure we aren't making a foolish move. Our alternative would be to purchase an existing new build (I really don't want another fixer upper), which in our market would likely result in a higher mortgage than this project. Thank you again for your help. [link] [comments]  |
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