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Financial Issues • Re: Cryptocurrency for investments?

March 25, 2017 IceFire 0
MrDanB wrote:
If it’s not physically in your possession, you don’t own it. Scores of investors here in the US THINK they own silver or gold because they invested in an electronic fund through a well established brokerage. If you were to read the fine print in the contract, you would see that most of the time you forfeit ownership of your cash when you use their services. They grow your money for you and then let you take a loan against “your” account. In the event of a 1930’s style market crash (or worse), they can exchange stock in their own business in lieu of the silver or gold you think you own. Sad but true. Nothing ever exchanges hands. It’s just cyber x’s and o’s in a database. The economy we live with today is riddled with pitfalls and uncertainty.
As for crypto currency… IF you were into bitcoin (even middle of last year), you would be happy right now. Will it go to 10K per coin? Who knows. I’m hedging my bet with silver and gold, something tangible that is recognized the world over. Your mileage may vary…

Absolutely! That’s why I limit my “investing” in PHYSICAL gold/silver that I have possession of.

Statistics: Posted by IceFire — Fri Mar 24, 2017 9:52 pm


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Financial Issues • Re: Cryptocurrency for investments?

March 25, 2017 MrDanB 0

If it’s not physically in your possession, you don’t own it. Scores of investors here in the US THINK they own silver or gold because they invested in an electronic fund through a well established brokerage. If you were to read the fine print in the contract, you would see that most of the time you forfeit ownership of your cash when you use their services. They grow your money for you and then let you take a loan against “your” account. In the event of a 1930’s style market crash (or worse), they can exchange stock in their own business in lieu of the silver or gold you think you own. Sad but true. Nothing ever exchanges hands. It’s just cyber x’s and o’s in a database. The economy we live with today is riddled with pitfalls and uncertainty.
As for crypto currency… IF you were into bitcoin (even middle of last year), you would be happy right now. Will it go to 10K per coin? Who knows. I’m hedging my bet with silver and gold, something tangible that is recognized the world over. Your mileage may vary…

Statistics: Posted by MrDanB — Fri Mar 24, 2017 7:42 pm


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Financial Issues • Re: Cryptocurrency for investments?

March 24, 2017 daaswampman 0

Sounds like a game for an expert! Everyone else is a sucker! Just like a coin collection I recently picked up. All from a well known national dealer and forty cents on the dollar is the best I could offer. I will end up making five to ten percent and they will end up “eventually” at another national dealer offering a great investment! Swamp

Statistics: Posted by daaswampman — Fri Mar 24, 2017 6:11 pm


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Financial Issues • Re: Cryptocurrency for investments?

March 24, 2017 DR1VENbyKNOWLEDGE 0

I literally just had a friend hit me up on a HUGE opportunity 20 min ago….Long story short, he got taken.

Bitcoin…Investing…DOUBLE your money in 90 days.(insert “Facepalm” emoticon here)

With 1 simple search I figured out it was ponzi scheme…..HOW on Gods green earth do you fall for this poo poo?

Now I have to be the one to tell a good friend that the investment he is selling and has money invested in is a scam…..WTF!

DO YOUR RESEARCH PEOPLE!!!!!……(sorry, just tired of this poo poo)

Here’s a tip…. a 5% ROI is a good investment. It’s great actually…..anyone offering 10%-15% is likely hiding massive risk somewhere. 50%-100%..They’re full of poo poo. They wouldn’t offer it if it was real. They’d keep the secret to themselves and invest accordingly.

I cant believe I have to now tell him this and have him get mad at me. That’s the way it always works…

FML.
~D

.

Statistics: Posted by DR1VENbyKNOWLEDGE — Thu Mar 23, 2017 9:18 pm


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Financial Issues • Re: Cryptocurrency for investments?

March 23, 2017 NJMike 0

http://www.businessinsider.com/bitcoin- … 017-2017-3

It can be manipulated or influenced by larger entities just like today’s currencies (ref:PBOC and SEC in link above).

It’s electronic and even easier for a nation state to freeze or seize assets, just like a bank account. (ref:PBOC in link above)

Governments can shut down exchanges or shutdown or isolate Internet traffic if/when/where they choose.

It’s more imaginary than physical fiat paper and coin currency.

In following several linked articles this one is interesting too. China plays a big role in Bitcoin.
http://www.businessinsider.com/bitcoin- … ibi-2017-1

To each their own. Personally, I’m a big No.

Statistics: Posted by NJMike — Thu Mar 23, 2017 8:06 am


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Financial Issues • Re: Cryptocurrency for investments?

March 23, 2017 Antihero 0

In my mind anything we can save or spend anonymously without big brother dipping into it is a great thing. If you have extra cash laying around why not put some into crypto. Best case it just keeps on going up like it has been lately, Worst case it’s worth whatever cash you put into it. It might fluctuate a bit but based on its track record so far it’s a fairly safe bet it won’t lose value. And since it’s not tied to any government, economy or paper currency its not likely to be negatively affected by inflation like cash. As for after a shtf scenario we all know cash is going to be worthless after day 5 but crypto has the potential to retain its value, it may or may not be accessible after shtf depending on your preferred scenario but because it’s a global currency if shtf is localized to say just the northern hemisphere then in theory your crypto still has value on half the planet. And it is possible to get some limited Internet access over a ham radio. I don’t know if I would go throwing thousands into it maybe a thousand if you plan on spending and using your crypto cash for some purchases as well. I’m not an expert by any means but I’ve been looking into crypto for awhile. I would definitely think of whatever cash you convert into crypto as a long term conversion because converting back to cash can raise alot red flags for the irs, or even the fbi these days depending on the method and the amount your converting. It’s not like your debit card where if you want to buy something online you just go to the bank and deposit cash then change your mind and withdraw it the next day. It’s more like buying a foreign currency to buy things in another country it’s easier to only convert what your planing to spend or have on hand whIle traveling. Now for real world transactions say using crypto to pay a contractor or buy car on Craigslist . It’s possible as long as the other party uses crypto this limits the amount of people you can do business with since crypto simply isn’t as widely used as cash. And again if your thinking of using it like a debit card for gas grocery cable bill it doesn’t work that way unless your gas station is willing to be paid in crypto and that’s not going to happen any time soon. As for the wallet security I really don’t know I’m debating a hard key myself but haven’t looked into what happens if it gets damaged. I’m still in my research stage for alot of this crypto stuff I’ve only put in a couple hundred just to test the waters but this is what I’ve learned so far, hope it’s helpful……

Statistics: Posted by Antihero — Wed Mar 22, 2017 11:43 pm


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Financial Issues • Re: Cryptocurrency for investments?

March 22, 2017 Blondie 0

Why would you invest at current market highs?

When bitcoin first launched it was like $2-4 USD per coin. Now it’s on par w/gold per ounce.

Forget the end of the world scenario, you just need a major power or internet outage for it to be useless.

Learn how to invest so your $ is hard to find.

Statistics: Posted by Blondie — Wed Mar 22, 2017 11:22 am


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Financial Issues • Re: Cryptocurrency for investments?

March 22, 2017 Blondie 0

Why would you invest at current market highs?

When bitcoin first launched it was like $2-4 USD per coin. Now it’s on par w/gold per ounce.

Forget the end of the world scenario, you just need a major power or internet outage for it to be useless.

Learn how to invest so your $ is hard to find.

Statistics: Posted by Blondie — Wed Mar 22, 2017 11:22 am


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Financial Issues • Re: Cryptocurrency for investments?

March 22, 2017 Gunns 0

Nope.

Anything that has to do with purchasing power online won’t exist in a SHTF scenario and most likely never will recover. The internet and all its data will never be the same if we go into a world wide recession or depression.

Statistics: Posted by Gunns — Wed Mar 22, 2017 9:43 am


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Financial Issues • Cryptocurrency for investments?

March 22, 2017 RollingwithR 0

Is anyone out there uesing bitcoin or other cryptocurrency as a long term investment strategy? I’ve heard lots of good things about cryptocurrencies. The biggest advantages being it’s an amenity from our over reaching government. It’s supposed to be better than saving up cash money because you can spend it online and unlike cash it appears to acutely gain value over time. I’m considering investing sevral thousand in cryptocurrency. Has anyone eles tried this investment strategy? Is there a specific cryptocurrency that is doing better than others or should we invest a percentage in each of the different the cryptocurrencys? How versatile is cryptocurrency? Is it mainstream enough where you can buy most things online with it, is anyone uesing cryptocurrency as a payment method off line in the real world? Also any thoughts on weather a virtual wallet or hard keyed wallet is a better security strategy. A hard keyed wallet is basically a removable USB drive you store all your cryptocurrency on, but what if you damage or lose the drive is there away to recover the funds stored on it? How hard is it to cash out cryptocurrency for cash or precious metals and is that even something that should be done or is better just to spend that cryptocurrency on other Goods?

Statistics: Posted by RollingwithR — Wed Mar 22, 2017 8:17 am


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Financial Issues • Cryptocurrency for investments?

March 22, 2017 RollingwithR 0

Is anyone out there uesing bitcoin or other cryptocurrency as a long term investment strategy? I’ve heard lots of good things about cryptocurrencies. The biggest advantages being it’s an amenity from our over reaching government. It’s supposed to be better than saving up cash money because you can spend it online and unlike cash it appears to acutely gain value over time. I’m considering investing sevral thousand in cryptocurrency. Has anyone eles tried this investment strategy? Is there a specific cryptocurrency that is doing better than others or should we invest a percentage in each of the different the cryptocurrencys? How versatile is cryptocurrency? Is it mainstream enough where you can buy most things online with it, is anyone uesing cryptocurrency as a payment method off line in the real world? Also any thoughts on weather a virtual wallet or hard keyed wallet is a better security strategy. A hard keyed wallet is basically a removable USB drive you store all your cryptocurrency on, but what if you damage or lose the drive is there away to recover the funds stored on it? How hard is it to cash out cryptocurrency for cash or precious metals and is that even something that should be done or is better just to spend that cryptocurrency on other Goods?

Statistics: Posted by RollingwithR — Wed Mar 22, 2017 8:17 am


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

March 11, 2017 DR1VENbyKNOWLEDGE 0
contrarian wrote:

rickdun wrote:What Swamp said, we put our home in the kids name, with a memorandum of understanding that we live in it, keep it up and pay the taxes until we are both dead. We had an attorney do the paperwork, only cost me $150.00, that was done abut 5 year ago. Now the kids, after we’re dead can do what they want with it and not pay any inheritance taxes.

There are down falls to this method, if one of the kids gets in a bad accident and they are sued for big time money, well you know the rest. If they would separate from their spouse, not a problem, that was put in the memorandum, inlaw doesn’t count and they signed paperwork to that affect.

Another tool we can use to manage our estate with much lower risk to all of us from law suits, government confiscation, and such is to use Limited Liability Corporations (LLCs) to own your property. If you have multiple members (the kids) it becomes much more difficult for those assets to be stolen by the government.

It is an EXCELLENT tool……. be aware though I know of no lenders(in the wholesale market) that will refinance any residential residence held in LLC anymore….I run into that problem on a few of my high profile clients in the entertainment industry.

If you refi or purchase, and then put back into LLC and they notice, they WILL demand removal out of LLC again or order demand of payment in full…This is in CA properties, but with National lenders…..I am NOT an expert in this area but see it happen quite a lot…..Just a footnote to make sure you research this option for your specific lender and state.

Statistics: Posted by DR1VENbyKNOWLEDGE — Sat Mar 11, 2017 2:39 pm


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

March 10, 2017 contrarian 0
rickdun wrote:
What Swamp said, we put our home in the kids name, with a memorandum of understanding that we live in it, keep it up and pay the taxes until we are both dead. We had an attorney do the paperwork, only cost me $150.00, that was done abut 5 year ago. Now the kids, after we’re dead can do what they want with it and not pay any inheritance taxes.

There are down falls to this method, if one of the kids gets in a bad accident and they are sued for big time money, well you know the rest. If they would separate from their spouse, not a problem, that was put in the memorandum, inlaw doesn’t count and they signed paperwork to that affect.

Another tool we can use to manage our estate with much lower risk to all of us from law suits, government confiscation, and such is to use Limited Liability Corporations (LLCs) to own your property. If you have multiple members (the kids) it becomes much more difficult for those assets to be stolen by the government.

Statistics: Posted by contrarian — Fri Mar 10, 2017 8:42 am


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Financial Issues • Re: Prepper investments

March 10, 2017 angie_nrs 0

I diversify. That way I feel like I’m covered in the future no matter what happens…..even if nothing happens. I have some investments in the market but I like physical assets as well and not just PM’s/cash/lead/guns. Of coarse, that means you need a space to store your stuff as well. Things like equipment, tools, classic cars, antiques, or any usable or desirable items qualify as investments. Anything that can be sold for more than what you paid for it qualifies in my book. The best part about some of these things is that you can enjoy them before selling them if you so choose. The worst part is that you may have to pay for upkeep, insurance, storage, etc. Heck, I even have comic books and other unique collectibles that some may look at and never know the value of. Of coarse if you’re thinking “prepper investments” then you might want to focus more on food, water catchment/purification systems, hand tools, seeds, weapons, and that kind of thing. Even those things could be considered investments if you can sell them for more than what you bought them for. That’s why garage sales are so cool….you can get a bunch of “prepper” stuff on the cheap. At this point, I’m no expert on selling stuff…..I just don’t sell at this point in my life, but several years from now that may change.

I would suggest you gravitate toward the things you really know about. I have a friend that buys and sells tractors and similar equipment. He’ll buy something that doesn’t work quite right and then fix it and sell it for a nice profit. It makes a nice secondary income for him that is all cash. It gives him something to do in his spare time that he enjoys and he makes a buck to boot. A win-win! I also know someone who buys and sells vintage video games. He doesn’t make a ton of money at it but he knows his stuff and he enjoys doing it. Just something else to consider……

Statistics: Posted by angie_nrs — Thu Mar 09, 2017 10:36 pm


Financial Issues • Re: Prepper investments

March 10, 2017 daaswampman 0

Correct me if I am wrong, but I will assume you are talking about less than 10 thousand dollars. It started with a friend wanting a sideline business and he started selling at flea markets on weekends. He was struggling until I got him to sell vintage tools from my collection. He now makes a very decent profit on Prepper Related Tools and vintage items, things that are worthwhile in our mindset even if they don’t sell now.

It takes time to know what sells to collectors and what to pay. I doubt you can go too far wrong by staying with useful vintage items and never paying more the fifty cents on the dollar. I will not post details, but I know dealers (they are always picking my leftovers) making more than most people working full time jobs. Once you get to know the real collectors (those with money) there is no limit. I work the collector level as that is what I enjoy, have time for, and can afford, but there is money to be made at all levels.

Watch some episodes of American Pickers! Yes there are old oil cans and signs worth thousands of dollars each and that is just the tip of the iceberg! The best part – almost everyone deals in cash! You might also wish to visit a few gun shows for some ideas. This is a knowledge game, the more you learn – the more you earn. Swamp

Statistics: Posted by daaswampman — Thu Mar 09, 2017 10:13 pm


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

March 10, 2017 DR1VENbyKNOWLEDGE 0

Rates are continuing to increase in todays markets….. Here’s an example of the best possible pricing today….These rates are climbing quick lately.

Loan senario…

$300,000 1st mortgage…No cash out or 2nd leins.
SFR/Primary res/740+ FICO/Under 60% LTV
Specifics above matter VERY much for your personal rate.

Keep in mind, if you’re getting the absolute best pricing, it will change with the market—-Hourly sometimes
The rate will still be available, but the FEES will change for the same rate.

30 Year Fixed Conventional
Rate — Payment— Points—-FEES

3.625—$1,368.15— 2.009—-$10,653.06
3.750—$1,389.35— 1.083—-$7,739.09
3.875—$1,410.71— 0.230—-$5,104.23
3.990—$1,430.52— 0.000—-$2,912.17
4.000—$1,432.25— 0.000—-$2,770.52
4.125—$1,453.95— 0.000—-$494.50
4.250—$1,475.82— 0.000—-FREE including all cost everywhere and a full appraisal refund.(Nothing added to loan amount or hidden.)

The “FEES” should include ALL cost from the lender, points, title, escrow, recording, notary, appraisal, etc. etc., etc., etc……..Look for a single figure for all cost combined. Thats the only way to protect yourself….The APR #’s CAN BE MANIPULATED…***BE AWARE***

Statistics: Posted by DR1VENbyKNOWLEDGE — Thu Mar 09, 2017 7:16 pm


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Financial Issues • Re: Prepper investments

March 9, 2017 DR1VENbyKNOWLEDGE 0

an investment of sorts for that cash…But its a business that you’ll get whatever you put into it…I mean more effort = more return.

Amazon FBA selling.

Private label products.

look on youtube for those 2 phrases….You’ll see.

Don’t pay for any courses teaching you it if interested…PM me for the basics to decide if its right for you if interested after watching.

That might be what your looking for if willing to spend a little cash and effort.(3-4K for first product launch)…You will be in control of your own income and able to work anywhere with an internet connection….If done right you’ll double the investment…Can easily become a $1000-????(I see 3-4 K earners often) income stream per month for each product you launch.

Statistics: Posted by DR1VENbyKNOWLEDGE — Thu Mar 09, 2017 6:55 pm


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Financial Issues • Re: Prepper investments

March 9, 2017 anita 0

My brother and I have taken some of our IRA money, put it into a self-directed IRA and purchased a couple of lots with it. (20+ acres). We did this in an area where a lot of fracking is happening. We did it for the gas rights leasing potential. Nothing has happened so far–oil/gas prices plummeted, then PA got a demwit governor, so I’m not sure if it will pay out or not.

We figured if the gov’t decides to take our IRA money (there has been discussion of that in congress) it would be a little more complicated to take that.

Not sure that’s what you are looking for, but there it is.

Statistics: Posted by anita — Thu Mar 09, 2017 4:53 pm


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Financial Issues • Re: Prepper investments

March 9, 2017 mombear 0

in our town there are empty lots and I found that I can purchase them for really cheap (some for as low as $600). These lots aren’t big, but what I did was buy a pre-fab single wide house (I did find a couple of used ones that saved a ton), put it on a permanent foundation and rented it out. I also had built a carport. My total costs was just under $40,000 and able to rent them out for $800 a month. Your ROI will be low for a few years, then it is all gravy. My plan is to pay them off in 5 years. I am looking for more lots now.

Statistics: Posted by mombear — Thu Mar 09, 2017 3:03 pm


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Financial Issues • Re: Prepper investments

March 9, 2017 mombear 0

in our town there are empty lots and I found that I can purchase them for really cheap (some for as low as $600). These lots aren’t big, but what I did was buy a pre-fab single wide house (I did find a couple of used ones that saved a ton), put it on a permanent foundation and rented it out. I also had built a carport. My total costs was just under $40,000 and able to rent them out for $800 a month. Your ROI will be low for a few years, then it is all gravy. My plan is to pay them off in 5 years. I am looking for more lots now.

Statistics: Posted by mombear — Thu Mar 09, 2017 3:03 pm


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Financial Issues • Prepper investments

March 9, 2017 RollingwithR 0

I’m a life long prepper and like most preppers I have very little faith in our government and Financial system. I’m prepared for most any disaster including a economic disaster. It makes since to me to save and even invest a little money, it’s just doing so in banks or the market goes against everything Im prepping for. Now of course I’m heavily invested in precious metals that I have physical control over. But I’m wondering if anyone has any other kind of investment for me to put some cash into. Something outside the traditional bank and market systems. I’m talking thousands not hundreds not tens of thousands. Thanks I look forward to your input…

Statistics: Posted by RollingwithR — Thu Mar 09, 2017 1:34 pm


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 23, 2017 DR1VENbyKNOWLEDGE 0
IceFire wrote:
There is one other financing method you did not mention, and it is VERY common around here…”Owner Carry“. It is common around here, ESPECIALLY on properties with acreage, since most of the existing homes on the acreages in my area are Manufactured Homes. FHA and conventional loans are NOT made for pre-fabs, and for VA loans, they require a particular type of tie-down that is much more costly, so typically NOT used. Owner Carry is how we financed our current place. The old house in town (that we are going to try to rent out, since we are currently unable to sell it for what we owe on it, much less what we paid for it) was financed with a VA loan.

Yes indeed IceFire. :) You are correct as you so often are…

Manufactured is indeed the toughest loan to get. I can actually do manufactured but the criteria involved in the wholesale arena for manufactured is so hard and often unsuccessful I wont touch them just for the reason that the loans so often fail thru no ones fault that I don’t want my name to attached to the loan.(has to be built past a certain year, permanent foundation, double-wide, engineer reports needed, Well and septic testing, compatibles for the appraisal needed, etc……Nightmare.) We’ve been hearing lending on them is going to loosen up but we’ve also been hearing that for 2 years. Nothing so far there but you are starting to see alternate income allowances for self-employment roll thru that’s promising.(No tax returns needed)…..If TRUMP does indeed loosen Dodd-Frank regs, some folks that have been hurt by the government takeover in 08 might finally get some leeway to qualify again for wholesale rates.

I handle everything except manufactured as I stated in the intro of this thread. All loan types (Except manufactured) an for residential loans including rural and up to 25 acres. I also only work in the wholesale market where the best rates are possible so owner carry I will not chime in on since the rates are so much higher and don’t work with that product.

***Purchase, refi, cash out refi, conventional, super conforming, High balance, Jumbo, 5/1-7/1-10/1 ARM’s, Interest Only, FHA, VA, Multi-property(over 4 homes financed) for all different loan terms, on Any SFR, 2-4 Units, condo, townhome, PUD, rental properties, Investment and the like…Then I’m your man if you’re already not fluent in the loan and underwriting criteria needed. ;)

Statistics: Posted by DR1VENbyKNOWLEDGE — Thu Feb 23, 2017 2:17 am


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 23, 2017 IceFire 0

There is one other financing method you did not mention, and it is VERY common around here…”Owner Carry“. It is common around here, ESPECIALLY on properties with acreage, since most of the existing homes on the acreages in my area are Manufactured Homes. FHA and conventional loans are NOT made for pre-fabs, and for VA loans, they require a particular type of tie-down that is much more costly, so typically NOT used. Owner Carry is how we financed our current place. The old house in town (that we are going to try to rent out, since we are currently unable to sell it for what we owe on it, much less what we paid for it) was financed with a VA loan.

Statistics: Posted by IceFire — Wed Feb 22, 2017 9:32 pm


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 22, 2017 DR1VENbyKNOWLEDGE 0

Soooo…..For general info on purchases since that came up.

VA is always your first choice for a Primary residence if you’re a vet. Unbeatable rates, 100% financing available, and if you have a 10% service related disability or more the VA funding fee can be waived. If not it can be added to the loan amount even on a $0 down purchase.

Conventional loan will have the next best program if you have a good down payment….You can do as little as 5% down and be in a conventional loan with private Mortgage insurance(you can do “LPMI” or Lender Paid Mortgage Insurance Vs. “BPMI” or Borrower Paid Mortgage Insurance and save a lot of payment monthly but you will want to compare the two options for what you think is best for you. The more down you put, the better the rate and lower monthly MI you’ll have to pay…Once the Loan to Value ratio(LTV) is lower than 80%(20% down), no MI will be needed….You need a 640 middle credit score to qualify for a conventional loan.

An FHA loan has its benefits but there’s drawbacks as well…IMHO these are a last resort, but just Vs. the other programs for a purchase or refinance.These loans are designed for poor credit(Under 640), less than 5% down(Min 3.5% down required), foreclosure/Loan mod/Bankruptcy history/ etc. that has happened within the last 4-7 years….If you have less that 5% down but everything else is good, an FHA loan is a good option to make you a homeowner. Rates are typically just a smidge lower than a conventional loan but the mortgage insurance is a killer. There is a “UFMIP”(Up-Front Mortgage Insurance Premium) a large dollar amount added to the loan or due at closing AND there is also an annual MI that you pay monthly on top of the normal monthly payment for insurance against default on the loan to the mortgage insurance provider(This insurance does not stop a foreclosure if you default)….FHA Mortgage insurance is for the life of the loan no matter what you do. It used to drop off under 80% LTV but no longer. FHA insurance cost are very expensive compared to other MI programs but they recently were going to drop the cost but then Ben stopped the program change while our current administration looks things over.

There are additional programs that I’ve very fluent in as well but don’t have the time to type out right now….contact me directly if you would like some other free advice/info.

For now I have to scramble….I have 2 different new home owners that signed their closing docs yesterday that will be happy to hear their loans funded this morning. :clap:

Have a great day all…..
~DR1VEN

Statistics: Posted by DR1VENbyKNOWLEDGE — Wed Feb 22, 2017 10:56 am


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 21, 2017 JayJay 0

Sorry: it was not obvious, nor can I imagine such a life. Swamp

oh, it happens..maybe you don’t know any but my only relative is a 82 year old BIL..these neighbors of 9 years do Not care to socialize with other neighbors and treasure their privacy..which is why I am saving for a down payment for a smaller house in the country and then sell this house.

I have too much stored food and will be robbed if TSHTF.

Statistics: Posted by JayJay — Tue Feb 21, 2017 11:06 am


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 21, 2017 DR1VENbyKNOWLEDGE 0
IceFire wrote:
When we purchased our current property, we went in with our daughter on it…the deed was done up as ‘joint tenants with right of survivorship,” so we all share the property, and when any of us kicks off, it goes to the ‘survivors’, with no inheritance taxes.

Great way to do it….Even avoids probate.

The only better way is having it in a Living Trust.

Make sure the property is specifically named in the Trust AND titled as such if you go that route…..I cant tell you the amount of people that think just putting the trust name on title protects them. It must be specifically named in the trust or amended to do so if the trust already exist.

(Legal disclaimer…I am not a title agent or Trust attorney and as such with my real estate licensing I must advise you to talk to an attorney or title officer for any advice)

Statistics: Posted by DR1VENbyKNOWLEDGE — Tue Feb 21, 2017 10:51 am


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 21, 2017 daaswampman 0
JayJay wrote:
There are ways to protect your home, but you must do it in advance. One of the easiest is to sell it to your heir or a trusted friend and get an iron clad lease to live in it. Locally any change in ownership can be questioned for three years prior to such an event. My home is already in my son’s name complete with a “long term mortgage on paper and the lowest legal interest rate”. I also have a “lease on paper” that gives me complete control and first options should anything unexpected happen. It may sound complex, but not really. Swamp

####One of the easiest is to sell it to your heir or a trusted friend #####

I have neither which was obvious when I stated about the nursing home acquiring our property.[/quote]

Sorry: it was not obvious, nor can I imagine such a life. Swamp

Statistics: Posted by daaswampman — Mon Feb 20, 2017 7:02 pm


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 20, 2017 DR1VENbyKNOWLEDGE 0
JayJay wrote:
There are ways to protect your home, but you must do it in advance. One of the easiest is to sell it to your heir or a trusted friend and get an iron clad lease to live in it. Locally any change in ownership can be questioned for three years prior to such an event. My home is already in my son’s name complete with a “long term mortgage on paper and the lowest legal interest rate”. I also have a “lease on paper” that gives me complete control and first options should anything unexpected happen. It may sound complex, but not really. Swamp

####One of the easiest is to sell it to your heir or a trusted friend #####

I have neither which was obvious when I stated about the nursing home acquiring our property.[/quote]

I know way too little about your overall situation JayJay to clearly say, but you might want a reverse mortgage. It’s just another option to look into. For the right situation, a reverse mortgage is beneficial above all other loan products.

It strips the equity from a home quickly, you have to live in the home without extended absences(Like not in a nursing home) and have to keep it in good shape and pay the property taxes and insurance. but as long as those items are met, you will never have a mortgage payment again for life in that home.

Being a loan expert, wanting my mother to have a good quality of life in retirement on a fixed income, and not being concerned with an inheritance, I have my mom in a reverse mortgage…..It is right for her situation.

There are downfalls to reverse mortgages. So like any product, you need to know the specifics that they don’t mention to you before deciding if its the right choice for you. Education and foresight are paramount to obtaining a reverse mortgage.

Statistics: Posted by DR1VENbyKNOWLEDGE — Mon Feb 20, 2017 9:25 am


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 20, 2017 JayJay 0

There are ways to protect your home, but you must do it in advance. One of the easiest is to sell it to your heir or a trusted friend and get an iron clad lease to live in it. Locally any change in ownership can be questioned for three years prior to such an event. My home is already in my son’s name complete with a “long term mortgage on paper and the lowest legal interest rate”. I also have a “lease on paper” that gives me complete control and first options should anything unexpected happen. It may sound complex, but not really. Swamp[/quote]

####One of the easiest is to sell it to your heir or a trusted friend #####

I have neither which was obvious when I stated about the nursing home acquiring our property.

Statistics: Posted by JayJay — Mon Feb 20, 2017 8:46 am


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 19, 2017 rickdun 0

What Swamp said, we put our home in the kids name, with a memorandum of understanding that we live in it, keep it up and pay the taxes until we are both dead. We had an attorney do the paperwork, only cost me $150.00, that was done abut 5 year ago. Now the kids, after we’re dead can do what they want with it and not pay any inheritance taxes.

There are down falls to this method, if one of the kids gets in a bad accident and they are sued for big time money, well you know the rest. If they would separate from their spouse, not a problem, that was put in the memorandum, inlaw doesn’t count and they signed paperwork to that affect.

Statistics: Posted by rickdun — Sun Feb 19, 2017 6:44 pm


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 19, 2017 daaswampman 0
JayJay wrote:

DR1VENbyKNOWLEDGE wrote:

JayJay wrote:I have a great trick–apply for a refi; save all correspondence and reply after approval that you’re just not quite ready.
Keep doing that and watch that refi fee come down from $4500 to $2300 to $1900 to $450. ;):p;):p

I have the paperwork to prove it and still was cautious of BofA and didn’t refinance.

But, when husband is gone and I really need to refi to live on his SS check?? I will pull out that last pile of paperwork and say…”I’m ready now and I want that last deal!!” :D

lol….sounds like a pain. It could work or just cost you your deal if you’re serious Jay Jay.

Be aware, on the best day at BofA, Wells, Chase, WaMu, etc etc etc, you are still paying Retail pricing……They don’t offer Wholesale pricing even to clients with $500,000 in their banks.(There’s a reason there’s high-rises with their names on top of them, marble check writing counters, etc…PROFIT.)

Wholesale Vs. Retail is about $3000 cheaper on a given rate or about .250%-.375% lower on a rate for the same cost involved…….There is almost no time a “Big Bank” will be cheaper on any loan Vs. wholesale….The only exceptions you might see is SOMETIMES for a JUMBO loan at Chase IF you have hundreds of thousands of dollars in holdings with them…..Even then, you need to shop the rate.

Be aware…..wall Street LOVES Trump….Ever since elected rates have been climbing quickly….30 yr fixed was COMPLETELY free at 3.500% at the beginning of November….now that same loan today will cost you about 9-10 thousand dollars including all 3rd party fees…….The same free loan is about 3.990%-4.125% on a 30 year today as example.(Specific credit scores , loan amount, type of property, LTV will alter these figures)

Rates move hourly, let alone daily….just like the stock market.
You cant say “I want that last deal you quoted me” if rates have gone higher and they were giving you the best deal then…..That would be like saying I want to buy Apple stock but I only want to pay $1 dollar per share you quoted me in 1978 even though it’s $135 per share today.

If they truly were giving you the best deal ON THE FIRST QUOTE, you should give that person your business and not play games as they showed their integrity giving you the best deal first phone call not wasting your time….It’s easily verifiable by shopping. Remember though, rates change quickly sometimes…shop everyone within 1 hour against each other to compare “Apples to Apples” ;)

Look at bankrate.com…(don’t put in your contact info or 10 companies will immediately start calling you non-stop!!!….I’m not kidding here)..It’s an excellent resource but use it wisely…..BUT, be aware Bankrate.com’s advertising policies will not include 3rd party fees for anyone…..It also only is good for Primary residence, SFR(no condo’s or townhomes) mandatory impounds, and no cash-out or 2nd mortgage consolidations…..don’t trust the reviews there about a company as that’s not enough…You need the INDIVIDUAL Loan Officers reviews that’s helping you to know if they can be counted on to deliver…..I’ve seen many a bad loan officer working for excellent companies…..The LO is your bread and butter to a successful loan transaction.

In ONE sentence, what is your point??
We are retired, never gonna have any OTHER income than what we have now.
Only debt is home.
I have a hefty savings hidden here.
I don’t want a home paid for; why?? The nursing home to take when we become unable to care for ourselves??
For the young?? Maybe, but I wouldn’t have listened when I was young.

There are ways to protect your home, but you must do it in advance. One of the easiest is to sell it to your heir or a trusted friend and get an iron clad lease to live in it. Locally any change in ownership can be questioned for three years prior to such an event. My home is already in my son’s name complete with a “long term mortgage on paper and the lowest legal interest rate”. I also have a “lease on paper” that gives me complete control and first options should anything unexpected happen. It may sound complex, but not really. Swamp

Statistics: Posted by daaswampman — Sun Feb 19, 2017 5:48 pm


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 19, 2017 JayJay 0
DR1VENbyKNOWLEDGE wrote:

JayJay wrote:I have a great trick–apply for a refi; save all correspondence and reply after approval that you’re just not quite ready.
Keep doing that and watch that refi fee come down from $4500 to $2300 to $1900 to $450. ;):p;):p

I have the paperwork to prove it and still was cautious of BofA and didn’t refinance.

But, when husband is gone and I really need to refi to live on his SS check?? I will pull out that last pile of paperwork and say…”I’m ready now and I want that last deal!!” :D

lol….sounds like a pain. It could work or just cost you your deal if you’re serious Jay Jay.

Be aware, on the best day at BofA, Wells, Chase, WaMu, etc etc etc, you are still paying Retail pricing……They don’t offer Wholesale pricing even to clients with $500,000 in their banks.(There’s a reason there’s high-rises with their names on top of them, marble check writing counters, etc…PROFIT.)

Wholesale Vs. Retail is about $3000 cheaper on a given rate or about .250%-.375% lower on a rate for the same cost involved…….There is almost no time a “Big Bank” will be cheaper on any loan Vs. wholesale….The only exceptions you might see is SOMETIMES for a JUMBO loan at Chase IF you have hundreds of thousands of dollars in holdings with them…..Even then, you need to shop the rate.

Be aware…..wall Street LOVES Trump….Ever since elected rates have been climbing quickly….30 yr fixed was COMPLETELY free at 3.500% at the beginning of November….now that same loan today will cost you about 9-10 thousand dollars including all 3rd party fees…….The same free loan is about 3.990%-4.125% on a 30 year today as example.(Specific credit scores , loan amount, type of property, LTV will alter these figures)

Rates move hourly, let alone daily….just like the stock market.
You cant say “I want that last deal you quoted me” if rates have gone higher and they were giving you the best deal then…..That would be like saying I want to buy Apple stock but I only want to pay $1 dollar per share you quoted me in 1978 even though it’s $135 per share today.

If they truly were giving you the best deal ON THE FIRST QUOTE, you should give that person your business and not play games as they showed their integrity giving you the best deal first phone call not wasting your time….It’s easily verifiable by shopping. Remember though, rates change quickly sometimes…shop everyone within 1 hour against each other to compare “Apples to Apples” ;)

Look at bankrate.com…(don’t put in your contact info or 10 companies will immediately start calling you non-stop!!!….I’m not kidding here)..It’s an excellent resource but use it wisely…..BUT, be aware Bankrate.com’s advertising policies will not include 3rd party fees for anyone…..It also only is good for Primary residence, SFR(no condo’s or townhomes) mandatory impounds, and no cash-out or 2nd mortgage consolidations…..don’t trust the reviews there about a company as that’s not enough…You need the INDIVIDUAL Loan Officers reviews that’s helping you to know if they can be counted on to deliver…..I’ve seen many a bad loan officer working for excellent companies…..The LO is your bread and butter to a successful loan transaction.

In ONE sentence, what is your point??
We are retired, never gonna have any OTHER income than what we have now.
Only debt is home.
I have a hefty savings hidden here.
I don’t want a home paid for; why?? The nursing home to take when we become unable to care for ourselves??
For the young?? Maybe, but I wouldn’t have listened when I was young.

Statistics: Posted by JayJay — Sun Feb 19, 2017 11:19 am


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 19, 2017 DR1VENbyKNOWLEDGE 0
daaswampman wrote:
A loan of any type, should be your last resort in an uncertain world! Dave Ramsey has a good approach, it works, and will end your slavery to the Banksters! Swamp

I love DR.(Keeping in mind he’s made a business out of advice. Some of his sponsors do not have the persons best interest at hand, including the mortgage company he refers…LOL…They’re EXPENSIVE!!!)

I stay debt free as much as possible. if you cant control yourself on your own, the envelope system works.

Dave knows the value of a home for retirement and its primary to his plan. But he also knows homes are expensive and the reality is you don’t have $300,000 laying around to pay cash for it. That’s why he has Mortgage sponsors to begin with…. ;)

Get the home paid off and do it as fast as possible. But you cant do that EFFECTIVELY by being in a higher rate than you should be or too long a term unless you pay extra to your principle.

Mortgage insurance is the first thing to go if you have it. Then focus on rate and term. Pay extra to principle as much as possible……But, even if you pay extra to principle, if your rate is higher than it should be, you need to refinance. if you’re retiring, make sure you will qualify on the retirement income before the switch if possible.

In general, even if you’ve been in your current term for years, If your current interest rate is higher than below, you should at least research it…..It only takes about 5-6 min to know if you can improve and the entire refinance process shouldn’t take more than about 20 days total if with a good company.

(This changes hourly)….The interest rate changes are actually controlled by MBS(Mortgage Backed Securities)….You can see a general trend by observing the 10 year treasury but that’s not perfect. You really need to monitor the MBS and have to pay for a subscription if you want that access.

30 yr fixed—- 3.990%
20 yr fixed—- 3.500%
15 yr fixed—- 3.125%

These should be for COMPLETELY FREE loans(as long as your loan balance is $130,000 or higher)….that means NOTHING paid by you, NOTHING added to your loan amount, AND a full appraisal refund if it’s even needed.

You can get lower rates than above but it will cost something, somewhere, and you shouldn’t do it unless the payment savings it greater than the fees incurred in under about 30 months. If that’s still your goal, then just make sure to shop by TOTAL FEES including all 3rd party fees and appraisal…..Don’t let them twist you up by quoting you Escrow is blah blah blah, Title is blah blah blah….

You want a single total cost # to compare no matter what the break downs are. That is all that matters in the end.

Statistics: Posted by DR1VENbyKNOWLEDGE — Sun Feb 19, 2017 10:55 am


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 19, 2017 daaswampman 0
Blondie wrote:
Swamp, tough to do in Californica where jumbo loans are the norm. While I despise DR, I do agree with having as little debt as possible.

Mortgage rates are tied to the 10yr and rates have been climbing. Recently saw it go to 2.51 in interday trading. The market & treasuries usually run inverse to each other so what we’re seeing isn’t normal.

Treasuries are climbing because other nations are dumping our debt not because of any love for DJT. I expect a reset under his administration and right now, WS is making money while they can. They are going to hang the debt noose around DJT’s neck like one of his Trump ties.

When mortgage rates climb, housing which even here is unrealistically high will crash once again and prob take $3T in student loans down with it.

To each his own, but if you can’t afford something, paying interest on it, is not going to make the situation better! Credit is not a poor mans friend, but we have been programmed to believe we need everything and right now.

Easy credit will end and then what are the credit slaves going to do? It is not just foreign nations dumping our debt. Nobody is buying our debt except our government and those mandated to buy it. The only fix is to add more debt, that has too end poorly. Swamp

Statistics: Posted by daaswampman — Sun Feb 19, 2017 12:34 am


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 19, 2017 Blondie 0

Swamp, tough to do in Californica where jumbo loans are the norm. While I despise DR, I do agree with having as little debt as possible.

Mortgage rates are tied to the 10yr and rates have been climbing. Recently saw it go to 2.51 in interday trading. The market & treasuries usually run inverse to each other so what we’re seeing isn’t normal.

Treasuries are climbing because other nations are dumping our debt not because of any love for DJT. I expect a reset under his administration and right now, WS is making money while they can. They are going to hang the debt noose around DJT’s neck like one of his Trump ties.

When mortgage rates climb, housing which even here is unrealistically high will crash once again and prob take $3T in student loans down with it.

Statistics: Posted by Blondie — Sat Feb 18, 2017 10:57 pm


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 18, 2017 DR1VENbyKNOWLEDGE 0
JayJay wrote:
I have a great trick–apply for a refi; save all correspondence and reply after approval that you’re just not quite ready.
Keep doing that and watch that refi fee come down from $4500 to $2300 to $1900 to $450. ;):p;):p

I have the paperwork to prove it and still was cautious of BofA and didn’t refinance.

But, when husband is gone and I really need to refi to live on his SS check?? I will pull out that last pile of paperwork and say…”I’m ready now and I want that last deal!!” :D

lol….sounds like a pain. It could work or just cost you your deal if you’re serious Jay Jay.

Be aware, on the best day at BofA, Wells, Chase, WaMu, etc etc etc, you are still paying Retail pricing……They don’t offer Wholesale pricing even to clients with $500,000 in their banks.(There’s a reason there’s high-rises with their names on top of them, marble check writing counters, etc…PROFIT.)

Wholesale Vs. Retail is about $3000 cheaper on a given rate or about .250%-.375% lower on a rate for the same cost involved…….There is almost no time a “Big Bank” will be cheaper on any loan Vs. wholesale….The only exceptions you might see is SOMETIMES for a JUMBO loan at Chase IF you have hundreds of thousands of dollars in holdings with them…..Even then, you need to shop the rate.

Be aware…..wall Street LOVES Trump….Ever since elected rates have been climbing quickly….30 yr fixed was COMPLETELY free at 3.500% at the beginning of November….now that same loan today will cost you about 9-10 thousand dollars including all 3rd party fees…….The same free loan is about 3.990%-4.125% on a 30 year today as example.(Specific credit scores , loan amount, type of property, LTV will alter these figures)

Rates move hourly, let alone daily….just like the stock market.
You cant say “I want that last deal you quoted me” if rates have gone higher and they were giving you the best deal then…..That would be like saying I want to buy Apple stock but I only want to pay $1 dollar per share you quoted me in 1978 even though it’s $135 per share today.

If they truly were giving you the best deal ON THE FIRST QUOTE, you should give that person your business and not play games as they showed their integrity giving you the best deal first phone call not wasting your time….It’s easily verifiable by shopping. Remember though, rates change quickly sometimes…shop everyone within 1 hour against each other to compare “Apples to Apples” ;)

Look at bankrate.com…(don’t put in your contact info or 10 companies will immediately start calling you non-stop!!!….I’m not kidding here)..It’s an excellent resource but use it wisely…..BUT, be aware Bankrate.com’s advertising policies will not include 3rd party fees for anyone…..It also only is good for Primary residence, SFR(no condo’s or townhomes) mandatory impounds, and no cash-out or 2nd mortgage consolidations…..don’t trust the reviews there about a company as that’s not enough…You need the INDIVIDUAL Loan Officers reviews that’s helping you to know if they can be counted on to deliver…..I’ve seen many a bad loan officer working for excellent companies…..The LO is your bread and butter to a successful loan transaction.

Statistics: Posted by DR1VENbyKNOWLEDGE — Sat Feb 18, 2017 6:50 pm


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Financial Issues • Re: Home loan Education and Interest Rate Quotes.Free 4 Prep

February 18, 2017 JayJay 0

I have a great trick–apply for a refi; save all correspondence and reply after approval that you’re just not quite ready.
Keep doing that and watch that refi fee come down from $4500 to $2300 to $1900 to $450. ;):p;):p

I have the paperwork to prove it and still was cautious of BofA and didn’t refinance.

But, when husband is gone and I really need to refi to live on his SS check?? I will pull out that last pile of paperwork and say…”I’m ready now and I want that last deal!!” :D

Statistics: Posted by JayJay — Sat Feb 18, 2017 4:29 pm


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Financial Issues • Home loan Education and Interest Rate Quotes.Free 4 Preppers

February 18, 2017 DR1VENbyKNOWLEDGE 0

So, let me be a help where I can for you…

First off this advice will be free and I don’t want to do a loan for you. (I only handle CA, but the advice I can offer you is good Nationwide)…I really want this to just be free advice from a source that you can trust since there will be nothing in it for me as my way of contributing to you all here that have so willingly helped me so much.

I have been doing a very high volume of loans for the last 8 years for one of the largest companies handling CA properties. I’ve been the Sr. LO leading the company for about the last 5 years.(normally in the top 3 every year if not #1)…I handle everything from beginning to end for the entire transaction. I’m not a “Phone Monkey” that you find at Quicken or Loan Depot….(I don’t like to talk negative about others but those 2 companies I see rip off people more than any others out there combined)

I handle Purchases, refinance, Cash out, jumbo, Super conforming, regular conforming, FHA, VA, consolidation loans, HELOCS, silent 2nd’s, etc…… ALL types of residential real estate except manufactured homes.

I understand thoroughly all things you need to watch out for in these transactions including, appraisal, income calculations(W2,Self-employment, partnerships, Pastor income, Corp., rental properties, retirement, etc. etc. etc…), Loan disclosures, underwriter decisions and calculations, Interest rate locks, federal guidelines, etc…..

In 8 years of working at the same company I’ve never received a single complaint. There are hundreds of of 5 star reviews written about me personally.(Sorry, you’re just going to have to take my word for it for OPSEC purposes here…lol. :p )

I AM SICK AND TIRED of seeing good people getting ripped off even when they think they have a good deal from a “family friend”, old loan company, big bank, or broker they trust or thought they could trust. Daily I get calls of someone double checking…In just the last 2 days I’ve helped a Vet save $16,000 in unnecessary fees at a lower rate in a VA Loan, and another gentlemen about 9K in a conventional Cash-Out Refinance…..BOTH WERE FROM “TRUSTED” SOURCES!!!!

This stuff is personal by nature so I will not be asking personal info to help you out….

***If you ever go online to get rate quotes, for Gods sake, don’t give your social security # to anyone until they have been FULLY VETTED or put in a real phone # or you will be hassled NON-STOP by about 10 companies! Almost all of them trying to charge you way to much or not having 2 brain cells to rub together and causing your loan to fail after you’ve already paid for an appraisal, or getting bait-and-switched.(***Disclaimer…There ARE good people out there of course. They just tend to be far and few in-between.. Always check PERSONNAL REVIEWS, not just the company ones.)

Anyways, This is my way to try and give back to you….Free advice and rate quotes from the cheapest wholesalers out there nationwide so if you do proceed with someone out there you will have both barrels loaded for battle.

Any general questions should go here for all to see……and specific, private info will be best in PM unless you don’t mind public answers. I’ll be happy to run “What if?” scenarios for you as well…

For any rate quotes you will need….
current mortgage balance.(all loans, separately)
estimated middle credit score.(Don’t run your credit)
type of property?
do you want any cash out?
is there a 2nd mortgage of any type even if you are leaving it alone?
taxes and insurance in an escrow account or no?(Impounds)
Estimated value of property?
primary residence, 2nd home, or rental?

Again everyone, I do not want your loan….I want to just stop the madness of people getting lied to and ripped off even from so called “Friends”…It goes against everything I’ve worked for over 8 years having one of the highest repeat and referral percentages out there……. “I may not tell you what you want to hear like others do just to get you to move forward, but I will ALWAYS tell you the truth.” ;)

Preppers got to help Preppers….This is what I can do in my area of expertise. Please be patience for a reply as any specific quotes I’ll be sending from in office…Answers I can handle anywhere.

Best wishes to you and your families,
~DR1VEN….

Statistics: Posted by DR1VENbyKNOWLEDGE — Sat Feb 18, 2017 11:47 am


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Financial Issues • Re: Are We Being Stupid????

February 15, 2017 Anna 0

I would never call you stupid. The decision is obviously yours to make.

However, at your age I would never cash in a 401-K and lose so much to taxes and penalties. Plus at your age with retirement just 20 years away, you will likely never be able to rebuild. I’ve seen a lot of people do this and live to regret it when they are facing retirement with only Social Security income. I prepared bankruptcies for 25 years and I saw numerous people who’d done just that and once the money is gone, its gone and basically thrown away on temporary financial problems.

Are you still using credit cards? If yes, STOP digging yourselves in deeper. I would look at seriously reducing expenses and throwing every penny possible at the credit cards. I’d also look at ways of earning extra income or possibly selling stuff you don’t need and applying that to the credit cards. Once they are paid off your dh could take a lower paying job and you’d still have your retirement cushion.

Statistics: Posted by Anna — Wed Feb 15, 2017 6:41 pm