tloony
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Post by tloony on Apr 5, 2019 20:45:42 GMT -5
I actually have a choice between woman with kids or a couple who will pay my mortgage. Husband just moved out. If my bf is going to have ability to move to my state with child - I’ll be fine in July! If he isn’t moving - renters will continue to pay the mortgage. So what about the shovel? And btw my roof and interior will be paid by my insurance company. Just thought you wanted to know.. If your bf decides to just leave one day, you'll be picking up that shovel...again. If you take on renters, and they decide to leave suddenly one day AFTER trashing your place, you'll need that shovel...again. And what happened to your roof and home interior that you are getting insurance money? Did your XH trash those for good measure before leaving? I tell ya, just when I think I finally have all the puzzle pieces in this picture laid out, Loony finds a few more random bits from somewhere and tosses them in. It's like trying to play Monopoly on a roller coaster using Lego components. It's just that kind of . It's whack-a-mole meets Groundhog Day and they both say WTF? We had a huge storm in February and roof was damaged so one company working with insurance and we’ve got adjuster and it’s all in works. Waiting for the check in mail in few days for the roof and interior damage. I had renters. With me living in the same house nobody will trash anything. And i am taking 2 months rent which is going to hold me over if they leave. I dint know why such negativity. Mullions of landlords are making money. Few need a shovel.
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laterbloomer
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Post by laterbloomer on Apr 5, 2019 22:31:05 GMT -5
If renters are paying the mortgage that is even more reason that your husband is entitled to half the equity in the house at time of sale and less reason your BF has any claim.
I actually have a set up very similar to what you are looking at but I am sole owner of the house. The girls R&B covers the mortgage and ISO covers groceries. But that leaves lots of expenses for me to pay; insurance, maintenance, utilities and renos. Having the extra people in the house increases the costs so what they give me is not net gain for me. It is still a good contribution though. I have to prepare for when the girls move or if anything happens to ISO but I'm not going to live as if they aren't contributing now.
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tloony
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Post by tloony on Apr 5, 2019 22:50:19 GMT -5
If renters are paying the mortgage that is even more reason that your husband is entitled to half the equity in the house at time of sale and less reason your BF has any claim. I actually have a set up very similar to what you are looking at but I am sole owner of the house. The girls R&B covers the mortgage and ISO covers groceries. But that leaves lots of expenses for me to pay; insurance, maintenance, utilities and renos. Having the extra people in the house increases the costs so what they give me is not net gain for me. It is still a good contribution though. I have to prepare for when the girls move or if anything happens to ISO but I'm not going to live as if they aren't contributing now. I look at it as I am putting myself into living with strangers just because my husband wanted to move out. I will be the one dealing with everything. He checked out. He isn’t contributing. That’s his choice. If he stayed and shared expenses - than of course.
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tloony
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Post by tloony on Apr 5, 2019 22:52:35 GMT -5
Bloomy, Can you tell me how R&B working. Thanks
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NancysSummerSip
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Post by NancysSummerSip on Apr 6, 2019 11:58:07 GMT -5
If your bf decides to just leave one day, you'll be picking up that shovel...again. If you take on renters, and they decide to leave suddenly one day AFTER trashing your place, you'll need that shovel...again. And what happened to your roof and home interior that you are getting insurance money? Did your XH trash those for good measure before leaving? I tell ya, just when I think I finally have all the puzzle pieces in this picture laid out, Loony finds a few more random bits from somewhere and tosses them in. It's like trying to play Monopoly on a roller coaster using Lego components. It's just that kind of . It's whack-a-mole meets Groundhog Day and they both say WTF? We had a huge storm in February and roof was damaged so one company working with insurance and we’ve got adjuster and it’s all in works. Waiting for the check in mail in few days for the roof and interior damage. I had renters. With me living in the same house nobody will trash anything. And i am taking 2 months rent which is going to hold me over if they leave. I dint know why such negativity. Mullions of landlords are making money. Few need a shovel. Two months rent is nothing in a major emergency, or when large-scaled damage is done, or you cannot replace those renters fast. And you cannot watch them 24/7. Do you know these renters, aside from the fact that they are "nice?" Did you do a background check?
And we have landlords on this board. Ask them about making money. They will likely tell you that you CAN make money as a landlord, but it's serious work, not just "here's the keys, live in my house" and the money rolls in.
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laterbloomer
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Post by laterbloomer on Apr 6, 2019 21:48:24 GMT -5
Bloomy, Can you tell me how R&B working. Thanks It works really well but the 2 young women that are here now are like family. Some day they will move out but for now it's really good. Realistically they don't eat a whole lot of groceries, they are at a stage where take out is heaven to them. But it's always available and there are times they've over extended themselves and really need it. And it works for me, I don't won't to tell them they can't have any food in the house. If they buy groceries out of their own money ISO and I don't touch it unless they specifically offer it. They get to put what they want on the grocery list but sometimes they do it anyway. And here as long as the rate for R&B is typical of what parents charge adult kids you don't have to claim it as income. That makes life simpler. They like it because they get a much better quality of life cheaper than if they get an apartment they can afford and I am a good roommate. They don't have to worry that I'll steal their stuff or not pay the bills.
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Deleted
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Post by Deleted on Apr 7, 2019 6:54:06 GMT -5
I look at it as I am putting myself into living with strangers just because my husband wanted to move out. I will be the one dealing with everything. He checked out. He isn’t contributing. That’s his choice. If he stayed and shared expenses - than of course. Well, there's a solution to this: refinance in your own name and borrow enough to buy him out. I'm guessing that's not feasible, but what that really means is that you're "borrowing" his share of the equity and his credit to remain in the house. That's money he can't touch and it shows up on his credit reports as his debt, meaning that it limits his ability to borrow to buy a place of his own or even get a car loan- depending on his income. He's also got to trust that you'll maintain the property and pay the mortgage and taxes. The bank can come after him if you don't pay the mortgage, the city can come after him if you don't pay property taxes, and if you fail to repair problems in the house, his equity is reduced. I'm sure you're trying hard to pay everything on time and keep the house in good shape, but it's still a risk he's taking. So- he DOES deserve any appreciation on the house when you sell it. If you don't want that to happen, find a way to buy him out now.
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tloony
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Post by tloony on Apr 7, 2019 8:06:41 GMT -5
Bloomy, Can you tell me how R&B working. Thanks It works really well but the 2 young women that are here now are like family. Some day they will move out but for now it's really good. Realistically they don't eat a whole lot of groceries, they are at a stage where take out is heaven to them. But it's always available and there are times they've over extended themselves and really need it. And it works for me, I don't won't to tell them they can't have any food in the house. If they buy groceries out of their own money ISO and I don't touch it unless they specifically offer it. They get to put what they want on the grocery list but sometimes they do it anyway. And here as long as the rate for R&B is typical of what parents charge adult kids you don't have to claim it as income. That makes life simpler. They like it because they get a much better quality of life cheaper than if they get an apartment they can afford and I am a good roommate. They don't have to worry that I'll steal their stuff or not pay the bills. Thanks but how is it cheaper than an appt?
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tloony
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Post by tloony on Apr 7, 2019 8:12:23 GMT -5
I look at it as I am putting myself into living with strangers just because my husband wanted to move out. I will be the one dealing with everything. He checked out. He isn’t contributing. That’s his choice. If he stayed and shared expenses - than of course. Well, there's a solution to this: refinance in your own name and borrow enough to buy him out. I'm guessing that's not feasible, but what that really means is that you're "borrowing" his share of the equity and his credit to remain in the house. That's money he can't touch and it shows up on his credit reports as his debt, meaning that it limits his ability to borrow to buy a place of his own or even get a car loan- depending on his income. He's also got to trust that you'll maintain the property and pay the mortgage and taxes. The bank can come after him if you don't pay the mortgage, the city can come after him if you don't pay property taxes, and if you fail to repair problems in the house, his equity is reduced. I'm sure you're trying hard to pay everything on time and keep the house in good shape, but it's still a risk he's taking. So- he DOES deserve any appreciation on the house when you sell it. If you don't want that to happen, find a way to buy him out now. It’s so nice to see sober non-hysterical negative reply that actually makes all the sense! I can’t refinance because I don’t make enough money and I won’t get a sweet deal I have now BUT I see now how you are correct about my exes financial story. I have a lot to think about after reading your post. Thanks a lot.
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Deleted
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Post by Deleted on Apr 7, 2019 8:29:19 GMT -5
Well, there's a solution to this: refinance in your own name and borrow enough to buy him out. I'm guessing that's not feasible, but what that really means is that you're "borrowing" his share of the equity and his credit to remain in the house. That's money he can't touch and it shows up on his credit reports as his debt, meaning that it limits his ability to borrow to buy a place of his own or even get a car loan- depending on his income. He's also got to trust that you'll maintain the property and pay the mortgage and taxes. The bank can come after him if you don't pay the mortgage, the city can come after him if you don't pay property taxes, and if you fail to repair problems in the house, his equity is reduced. I'm sure you're trying hard to pay everything on time and keep the house in good shape, but it's still a risk he's taking. So- he DOES deserve any appreciation on the house when you sell it. If you don't want that to happen, find a way to buy him out now. It’s so nice to see sober non-hysterical negative reply that actually makes all the sense! I can’t refinance because I don’t make enough money and I won’t get a sweet deal I have now BUT I see now how you are correct about my exes financial story. I have a lot to think about after reading your post. Thanks a lot. Really? Several people stated the exact same thing in this thread, including Athena back in post 159.
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oped
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Post by oped on Apr 7, 2019 8:51:06 GMT -5
I have all the paperwork. Withbdaye when mybmortgage will be paid OFF! I was refinanced by my mortgage bank. And I want to ask guru Haitian... Would you rather sell the house that cost $1250 per month and 2 renters can make it FREE FOR YOU OR sell the house and pay $1500 for appartment? I am open for brilliant suggestions. So if you have the details why not just print them. Amount you owe a d tine period left to pay. Did I understand you are basing equity on your tax assessment?
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taz157
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Post by taz157 on Apr 7, 2019 8:59:09 GMT -5
It’s so nice to see sober non-hysterical negative reply that actually makes all the sense! I can’t refinance because I don’t make enough money and I won’t get a sweet deal I have now BUT I see now how you are correct about my exes financial story. I have a lot to think about after reading your post. Thanks a lot. Really? Several people stated the exact same thing in this thread, including Athena back in post 159. We are assuming she was sober when she read them...
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tloony
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Post by tloony on Apr 7, 2019 10:18:08 GMT -5
I have all the paperwork. Withbdaye when mybmortgage will be paid OFF! I was refinanced by my mortgage bank. And I want to ask guru Haitian... Would you rather sell the house that cost $1250 per month and 2 renters can make it FREE FOR YOU OR sell the house and pay $1500 for appartment? I am open for brilliant suggestions. So if you have the details why not just print them. Amount you owe a d tine period left to pay. Did I understand you are basing equity on your tax assessment? You want to see? I would but I’ve seen it years ago and I have no idea where it is. I am sure I will receive it sometimes sooner or later. Then I can share. I am basing equity on recent conversation with Chase. I needed it to obtain equity loan.
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oped
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Post by oped on Apr 7, 2019 10:20:49 GMT -5
At that time how much was the mortgage for?
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tloony
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Post by tloony on Apr 7, 2019 10:28:25 GMT -5
At that time how much was the mortgage for? Under $200k I would guess. If nowbits $180...
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oped
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Post by oped on Apr 7, 2019 10:53:56 GMT -5
At that time how much was the mortgage for? Under $200k I would guess. If nowbits $180... Do you know how many years the loan was for and how many years you have been paying already?
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NancysSummerSip
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Post by NancysSummerSip on Apr 7, 2019 10:55:53 GMT -5
Really? Several people stated the exact same thing in this thread, including Athena back in post 159. We are assuming she was sober when she read them... Not to mention hysterically non-negative. Or would that be non-hysterically positive? Dunno. Given the rest of this thread, it's hard to say.
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tloony
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Post by tloony on Apr 8, 2019 9:55:24 GMT -5
Under $200k I would guess. If nowbits $180... Do you know how many years the loan was for and how many years you have been paying already? Originally mortgage was from 1995 for 30 years and now it is 10 years added.
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HoneyBBQ
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Post by HoneyBBQ on Apr 8, 2019 11:10:18 GMT -5
Do you know how many years the loan was for and how many years you have been paying already? Originally mortgage was from 1995 for 30 years and now it is 10 years added.
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TheHaitian
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Post by TheHaitian on Apr 8, 2019 11:24:52 GMT -5
Originally mortgage was from 1995 for 30 years and now it is 10 years added. That was my reaction too... if original mortgage is from 1995 ... they should be 6 years away from having it paid off. Shouldn’t the balance be close to or near zero right now? So I am guessing it is not the first time they have taken some “equity” out of it.
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Deleted
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Post by Deleted on Apr 8, 2019 11:33:01 GMT -5
That was my reaction too... if original mortgage is from 1995 ... they should be 6 years away from having it paid off. Shouldn’t the balance be close to or near zero right now? So I am guessing it is not the first time they have taken some “equity” out of it. Well, there was at least one other refinance in there. The original mortgage wasn't the 2% rate one.
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tloony
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Post by tloony on Apr 8, 2019 12:01:15 GMT -5
That was my reaction too... if original mortgage is from 1995 ... they should be 6 years away from having it paid off. Shouldn’t the balance be close to or near zero right now? So I am guessing it is not the first time they have taken some “equity” out of it. Well, there was at least one other refinance in there. The original mortgage wasn't the 2% rate one. NO! Original mortgage was 7.5%!
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laterbloomer
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Post by laterbloomer on Apr 8, 2019 20:37:13 GMT -5
It works really well but the 2 young women that are here now are like family. Some day they will move out but for now it's really good. Realistically they don't eat a whole lot of groceries, they are at a stage where take out is heaven to them. But it's always available and there are times they've over extended themselves and really need it. And it works for me, I don't won't to tell them they can't have any food in the house. If they buy groceries out of their own money ISO and I don't touch it unless they specifically offer it. They get to put what they want on the grocery list but sometimes they do it anyway. And here as long as the rate for R&B is typical of what parents charge adult kids you don't have to claim it as income. That makes life simpler. They like it because they get a much better quality of life cheaper than if they get an apartment they can afford and I am a good roommate. They don't have to worry that I'll steal their stuff or not pay the bills. Thanks but how is it cheaper than an appt? It costs them less than it would cost them to get an apartment...I'm not really sure how to say that any clearer.
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hurley1980
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Post by hurley1980 on Apr 9, 2019 16:10:11 GMT -5
This thread is doing my brain a serious hurt!
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NastyWoman
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Post by NastyWoman on Apr 9, 2019 16:16:39 GMT -5
This thread is doing my brain a serious hurt! You need to cincintrate woman. As in - one martini shaken not stirred with a splash of cincintrate
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NancysSummerSip
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Post by NancysSummerSip on Apr 12, 2019 19:26:38 GMT -5
This thread is doing my brain a serious hurt! You need to cincintrate woman. As in - one martini shaken not stirred with a splash of cincintrate I checked Amazon to see if they sell cincintrate...nope. We need to get this product to market. Right now, trying to keep up between Loony's two threads, I need this stuff injected directly into my veins. I am flummoxed by her finance and twisted by her mystical money maneuverings. It's all starting to sound like a Monopoly game on steroids.
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