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The Family Mortgage

Our daughter plans to begin house (condo) hunting very soon. From the stuff she has seen listed and the open houses she has visited in the areas she likes in DC and MD, she is convinced she can make a 20% down payment, with room to spare. The rates for a family mortgage are really attractive and tha...
by Mikejenny
Mon Jul 14, 2014 9:40 am
 
Forum: Investing - Help with Personal Investments
Topic: Intra-Family Mortgage
Replies: 32
Views: 2899

The Family Mortgage

We spoke with our daughter last weekend about this family mortgage possibility. I told her from my reading it had to be treated just like an regular mortgege with a formal agreement. She hadn't heard of it before so she had a number of questions - who writes up the note? ( I told her it would be an ...
by Mikejenny
Sat Jun 07, 2014 8:52 am
 
Forum: Investing - Help with Personal Investments
Topic: Intra-Family Mortgage
Replies: 32
Views: 2899

The Intra-Family Mortgage

They reviewed her situation and said she could probably get a mortgage but for about 50-60 K less than she would likely needThis is a red flag. Ususally you should not borrow anywhere near as much as you can qualify for. They reviewed her situation and said she could probably get a mortgage but for...
by Mikejenny
Sat May 24, 2014 10:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Intra-Family Mortgage
Replies: 32
Views: 2899

Re: Intra-Family Mortgage

Has she asked a bank whether she would qualify for a mortgage?I bought my first house in 1985, 60 days after having graduated from engineering college. Jack: Yes, she did ask a bank about a mo0rtgage. They reviewed her situation and said she could probably get a mortgage but for about 50-60 K less ...
by Mikejenny
Thu May 15, 2014 4:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Intra-Family Mortgage
Replies: 32
Views: 2899

Intra-Family Mortgage

Has anyone had experience with an Intra-Family Mortgage (or family mortgage). Our daughter has a new job and has good credit but she has only been out of school for a couple of years and doesn't have a lot of credit history. She is looking to buy a place in the DC/MD/VA area. She didn't ask so she d...
by Mikejenny
Wed May 14, 2014 9:18 am
 
Forum: Investing - Help with Personal Investments
Topic: Intra-Family Mortgage
Replies: 32
Views: 2899

Re: Vanguard National Trust Company?

If anyone has experience with Northern Trust in this context, I would love to hear about it. I thought they were a significant player, with a fairly strong emphasis on passive, indexed funds, so I'm surprised not to have heard more about them. Ihl12: I looked around the internet. Northern Trust wan...
by Mikejenny
Wed Nov 20, 2013 6:46 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard National Trust Company?
Replies: 91
Views: 19362

Re: "New International Bond Fund Shows Promise"

Jay69 wrote:Has Larry made a comment about this fund yet? I keep looking for his name to pop up on one of these threads.

I haven't seen anything by Larry yet but Rick posted something pretty neutral about it a few days ago
Mike
by Mikejenny
Thu Feb 14, 2013 5:42 pm
 
Forum: Investing - Theory, News & General
Topic: "New International Bond Fund Shows Promise"
Replies: 17
Views: 2532

Re: Berskshire Hathaway and 3G buying Heinz

Berkshire already has a lot of Coke shares. Heinz seems to be the same type of company. Has a product that is going to be bought and used in good and bad times.
Mike
by Mikejenny
Thu Feb 14, 2013 5:28 pm
 
Forum: Investing - Theory, News & General
Topic: Berskshire Hathaway and 3G buying Heinz
Replies: 49
Views: 2980

Re: Is there a Fidelity Total World Index Fund?

Sounds like you finally found some way that would get you to your goal. If you can put the rollover at Vanguard and you liked FFNOX, what fund are you considering at Vanguard? Target Retirement 2040, 2045, 2050 or maybe the LifeStrategy Growth ?
Boy, you were persistent.
Mike
by Mikejenny
Tue Feb 12, 2013 6:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is there a Fidelity Total World Index Fund?
Replies: 28
Views: 4158

Chase Private Client

This thread got me curious. The Chase Bank in our area now has the Private Client sign on its wall. I don't bank there but I went in. They have separated a small section of the back of the bank with glass doors ( says "Chase Private Client" over the doors) , LOTS of dark wood paneling, and...
by Mikejenny
Thu Jun 21, 2012 10:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Chase Bank and Trusts
Replies: 14
Views: 1272

Strange condo situation

A strange condominium question. An 83 year-old widow who is a friend of our family mentioned a strange situation on the phone yesterday. She has lived in a small six-unit group of condominium townhouses in Connecticut for about 20 years. The condo association by-laws only permit one unit (of the 6) ...
by Mikejenny
Sun Feb 05, 2012 1:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Strange condo situation
Replies: 12
Views: 1151

Re: Vanguard National Trust Company?

Has anyone used the trust services of BNY Mellon? I found this previous discussion and wondered if there was any more recent information on them.
Mike
by Mikejenny
Wed Nov 23, 2011 3:07 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard National Trust Company?
Replies: 91
Views: 19362

I vote for "the Economist"

I think the Economist is great..but it isn't exactly a "money" magazine. The articles are well written.
Mike
by Mikejenny
Mon Aug 22, 2011 1:04 pm
 
Forum: Personal Consumer Issues
Topic: Best Money magazine?
Replies: 22
Views: 2731

On line banking transfers

Haven't done much online with banking stuff. Pay my Navy Federal credit card by intra-account transfer from our savings account and that's about it. Otherwise, we write checks and mail them to NFCU to deposit stuff in our savings account from our Bank of America checking account. My friends tell me ...
by Mikejenny
Mon Aug 22, 2011 12:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: On line banking transfers
Replies: 12
Views: 2476

Trust company

Good information. In this area, BNY Mellon Bank also has a trust department. Anyone ever looked into them?
Mike
by Mikejenny
Tue Jun 07, 2011 11:47 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard National Trust Company?
Replies: 91
Views: 19362

seems to be a scam

Seems to be pretty close to a scam. Another multilevel marketing thing, about a 40% markup on stuff you could buy at WalMart or Target. Look at the website- immune system boosters, colon cleaning stuff, herbal concoctions- all nutritional supplements. If you really need this stuff, the internet will...
by Mikejenny
Sun Apr 17, 2011 2:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: What is the story with "Nature's Sunshine"
Replies: 4
Views: 3184

Trusts and Trustees

These have all been great comments. Let me add a few things which came up this week on Trusts that might be helpful to other Bogleheads. I attended a annual retiree lunch club meeting this week. these thoughts were offered to me by guys and gals I used to work with who are now in their 70's ands 80'...
by Mikejenny
Thu Jul 01, 2010 9:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: A question of trustee succession
Replies: 109
Views: 12483

Last night's dinner disaster

Munchkin man: The convenience food industry would be insulted! They would want you to know it is not a "convenience food"- it is a " home meal replacement" I actually worked for Campbell Soup for a while. They bought Swanson's Frozen Foods and were trying to "upscale" t...
by Mikejenny
Tue Jun 29, 2010 8:17 am
 
Forum: Personal Consumer Issues
Topic: P. F. Chang's Frozen Dinners
Replies: 46
Views: 7249

Ha-hah-ha!

John: You have a good sense of humor- no, I will not take your latest message as a personal attack! Both you and Rick bring good thoughts as well as year of experience to the Forum. We can all get a bit "snippy" (to quote Al Gore) from time to time- and Alex is there to gently guide us. I ...
by Mikejenny
Tue Jun 29, 2010 8:11 am
 
Forum: Personal Finance (Not Investing)
Topic: A question of trustee succession
Replies: 109
Views: 12483

Trustee succession

This has really been a great thread of ideas- some a bit lively but all helpful and I believe well intentioned. Several questions have come up about what we- and our attorney- were trying to do. The revocable trusts were to be part of our estate plan- separate our ownership of stuff into about equal...
by Mikejenny
Mon Jun 28, 2010 9:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: A question of trustee succession
Replies: 109
Views: 12483

The trustee question

What I thought was a simple question about trustees seemed to have started something and what a great debate has occurred. This has REALLY been helpful to us, not that it answered our questions but it brought up a whole lot of stuff we had never considered. We were out at a family event over the wee...
by Mikejenny
Sun Jun 27, 2010 5:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: A question of trustee succession
Replies: 109
Views: 12483

Wow- what a discussion

Wow! What a great series of thoughts and experiences in these messages. Had some computer problems so I’m late with a reply. What I thought was a simple question really led to lots of additional questions. Let me expand on this. During our initial (and only so far) meeting with our estate attorney h...
by Mikejenny
Wed Jun 23, 2010 8:58 am
 
Forum: Personal Finance (Not Investing)
Topic: A question of trustee succession
Replies: 109
Views: 12483

A question of trustee succession

Trustee sequence Last week, we had our first meeting with an attorney who was recommended to us as someone who has expertise in estate planning. Among the many things he suggested we consider, one was to think about a revocable trust for myself and a separate one for my wife. He thinks I should be t...
by Mikejenny
Mon Jun 21, 2010 1:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: A question of trustee succession
Replies: 109
Views: 12483

VA Medical Services

Steelersfan:
Thanks. It was too good a dream to be true!
Mike
by Mikejenny
Sat May 29, 2010 1:24 pm
 
Forum: Personal Consumer Issues
Topic: Prescription drugs on-line
Replies: 14
Views: 1823

Pharmacies

For those of us who are veterans (but do not use the VA currently for health care), can we take a prescription (not written by a VA doctor) to a VA hospital in the area and obtain medications- assuming they have a pharmacy in the building. Or do we have to be getting the health service from the VA? ...
by Mikejenny
Sat May 29, 2010 12:24 pm
 
Forum: Personal Consumer Issues
Topic: Prescription drugs on-line
Replies: 14
Views: 1823

Parking

Parking at most Metro-North stations is free on Saturday and Sunday. It definitely i at Fairfield and Westport- starts at 5PM on Friday and goes until 5AM on Monday morning. Actually, you could do "day parking" for $6.00 starting at 9AM on Friday (they put a parking fee mailer under your w...
by Mikejenny
Sat May 08, 2010 6:13 pm
 
Forum: Personal Consumer Issues
Topic: Manhattan vacation - longterm prkng @ outlying railstations?
Replies: 15
Views: 1992

This sounds interesting

Do any of these asset allocation sites create a "pie-chart" which visually demonstrates the magnitude of each class of holdings? (my wife and I are Gestalt people)
Mike
by Mikejenny
Wed Apr 21, 2010 7:30 am
 
Forum: Investing - Help with Personal Investments
Topic: Total Portfolio Spreadsheet
Replies: 8
Views: 2152

Is the AMT a consideration with muni bonds or bond funds?

I am still reading about bonds so pardon this question if it is "dumb". Isn't the AMT a consideration for some (maybe many) of the muni bond funds? I recall reading some time back that interest from the VG tax-exempt money market fund was subject to the AMT but some of the VG muni bond fun...
by Mikejenny
Sun Apr 18, 2010 10:42 am
 
Forum: Investing - Help with Personal Investments
Topic: Muni bond fund investing
Replies: 31
Views: 5877

Law Firm

Actually, I've heard the law firm Shawcroft mentioned listed as:
"Huckster, Goniff, and Finagle" ( Goniff , I am told, Yiddish for thief or scoundrel)

Either way describes the situation well.
Mike
by Mikejenny
Thu Apr 08, 2010 9:01 pm
 
Forum: Investing - Theory, News & General
Topic: Couple of Shareholders Suing Vanguard
Replies: 22
Views: 3505

Thanks

Avo: Thanks. It looks like Diversified is a subsidiary of Transamerica Insurance and I guess each organization has the option to select various mutual funds/offerings to offer to employees. My sister-in-law is going to call them today to find out what options she has to transfer her 403(b) to somepl...
by Mikejenny
Mon Feb 22, 2010 1:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Diversified Investors Service Çorporation
Replies: 4
Views: 867

Gift tax question

I came across this thread and it brought up a thought. Our daughter will graduate from college this Spring and has been accepted to pursue a Masters degree at Northwestern University (near Chicago- I don't live anywhere close by!). She is 22 and has always been our dependent- had summer jobs which a...
by Mikejenny
Sun Feb 21, 2010 12:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Gift taxes
Replies: 33
Views: 5747

Diversified Investment Advisors

Correction:
The name of the group is "Diversified Investment Advisors" and I am told they have their main office in Purchase, NY.
Mike
by Mikejenny
Sat Feb 20, 2010 11:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Diversified Investors Service Çorporation
Replies: 4
Views: 867

Diversified Investors Service Çorporation

My wife's older sister works for a hospital out in Indiana and she will be retiring in June. In conversation this afternoon, she mentioned that her 403(b) plan was handled by Diversified Investors ( I have never heard of them) and the "nice" representative suggested she "consolidate a...
by Mikejenny
Sat Feb 20, 2010 11:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Diversified Investors Service Çorporation
Replies: 4
Views: 867

DRIP, DRIP, DRIP......

DSinvestor: Yes, I actually do know the cost of each of the shares (and fractional shares) we purchased over the years. I have been keeping track of them on a primitive speadsheet and also used AOL portfolios to sort of keep track of the average cost of the overall number of them (in each specific D...
by Mikejenny
Fri Jan 15, 2010 1:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Drip cost basis question
Replies: 10
Views: 2702

DRIP, DRIP, DRIP......

Livesoft: Thanks. I think I get it. If I may, let me sort of restate your thoughts on the situation and then give a more specific example. (since I am a bit dense on occasion, this would be helpful). I will also go to the IRS publications which may reinforce your response. One of our DRIP plans (Ban...
by Mikejenny
Fri Jan 15, 2010 11:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Drip cost basis question
Replies: 10
Views: 2702

Drip cost basis question

My wife and I started some DRIP plans in large US companies 15 or more years ago and have begun to "wind them down". We have mostly had good results over time but a few turned out to be dogs. Oh, well, “the best laid schemes of men and mice often go awry”….. After lurking on the Boglehead ...
by Mikejenny
Fri Jan 15, 2010 9:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Drip cost basis question
Replies: 10
Views: 2702

Many great thoughts, suggestions, and recommendations

To all who have given some thought to my question, thanks very much! I thought my situation was unusual- seems it might be fairly common. and so I say to kaneohe, JDCPAEsq and Rager1; yes, I will see if there is something about a contingent owner on the policy ( would you believe we may not exactly ...
by Mikejenny
Wed Dec 02, 2009 11:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ownership of life insurance policies
Replies: 18
Views: 2348

Ownership of life insurance policies

I've been lurking in the background and reading all these interesting posts. Recently, my wife and I have started organizing things and have come upon a question regarding life insurance policies. I have five fairly small whole life policies I got when I was in the Navy (Navy Mutual Aid Association)...
by Mikejenny
Tue Dec 01, 2009 11:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ownership of life insurance policies
Replies: 18
Views: 2348

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