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Re: Bad 401K or Taxable or Mortgage or Car Loan?

I would get the auto loan knocked out. A guaranteed 3.9% and freeing up $300/month sounds like a pretty good option to me.

Then evaluate again.
by Twins Fan
Sat Jan 24, 2015 1:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Bad 401K or Taxable or Mortgage or Car Loan?
Replies: 17
Views: 548

Re: QuitClaim Deed

Okay, there's more to it than I thought. :happy
by Twins Fan
Sat Jan 24, 2015 1:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: QuitClaim Deed
Replies: 25
Views: 1273

Re: Which mortgage to pick?

As mentioned, if you plan to stay a long while the lower rate/higher point options are probably best to pay less interest over that time. Then it comes down to what choice or how much in points you're comfortable with. You kind of have to decide on comfort level on your own though.
by Twins Fan
Sat Jan 24, 2015 1:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Which mortgage to pick?
Replies: 5
Views: 529

Re: QuitClaim Deed

I did it the opposite way and had to get the ex's name off the title and all after a divorce. No lawyer needed. Just called the county and they sent me the form(s) and advised what to do. Of course, it could be different state to state. But, I would say go through the county first. You shouldn't nee...
by Twins Fan
Sat Jan 24, 2015 1:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: QuitClaim Deed
Replies: 25
Views: 1273

Re: Which mortgage to pick?

I don't think Carl's plan works. I'm pretty sure they don't give cash out for taking out a mortgage. Any rebate/credit they give can only go towards fees and 3rd party expenses. So, if you pick the highest rate and it goes over all the fees and expenses... sorry, but thanks for picking the highest r...
by Twins Fan
Sat Jan 24, 2015 11:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Which mortgage to pick?
Replies: 5
Views: 529

Re: Hedging home value risk

Are there any other possibilities besides renting that would help to reduce exposure to the market on an expensive home? Pay cash. That way, you have no exposure to the market and never have to worry about being unable to afford your mortgage. Nice try, if impractical. I'm not sure how paying cash ...
by Twins Fan
Sat Jan 24, 2015 11:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Hedging home value risk
Replies: 23
Views: 1018

Re: Hedging home value risk

I agree a home is not an investment. I think of it as an assest, but not an investment. It's a consumption item for sure. But, let's talk some investment terms... need, ability, and willing... OP, sounds like you have the ability to take on this bigger house and bigger mortgage, but not the need or ...
by Twins Fan
Fri Jan 23, 2015 1:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hedging home value risk
Replies: 23
Views: 1018

Re: Selling Rental Property - How to estimate capital gains

I estimate between $1 and $1million... :D No one can give you any kind of estimate without some numbers there. And, without a selling price the capital gains can't be figured. You could estimate the depreciation recapture off past tax returns since that's all on there. Here's what a quick search tur...
by Twins Fan
Mon Jan 19, 2015 5:14 pm
 
Forum: Personal Consumer Issues
Topic: Selling Rental Property - How to estimate capital gains
Replies: 2
Views: 578

Re: Can we afford to buy a house?

Is it supposed to feel painful when I liquidate assets in a taxable account? Because it sure feels that way. No! I look at it the opposite way. A taxable account gives me options I wouldn't otherwise have. Keep in mind you are paying taxes on the GAINS when you sell assets in a taxable account, not...
by Twins Fan
Mon Jan 19, 2015 4:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can we afford to buy a house?
Replies: 28
Views: 2386

Re: Bored when market is closed

Newb, check out the thread about the market in China going a bit whacko today. THEE market isn't closed... one market is. And, you may have lost some money today depending on how much international/EM you have, if any. :o No need to be bored. Go read a book, get some exercise, watch a movie, watch p...
by Twins Fan
Mon Jan 19, 2015 2:05 pm
 
Forum: Investing - Theory, News & General
Topic: Bored when market is closed
Replies: 28
Views: 2080

Re: Bored when market is closed

Newb... Newb... Newb... Newb, Newb. :annoyed

Some of the posts you make....
by Twins Fan
Mon Jan 19, 2015 1:46 pm
 
Forum: Investing - Theory, News & General
Topic: Bored when market is closed
Replies: 28
Views: 2080

Re: Can we afford to buy a house?

We can't really answer the upper limit question for you. What you would qualify for and what you would be comfortable with are probably very different. You will have to figure out your own comfort level there. You can probably afford a $215k home, I would say. Mess around with some calculators to se...
by Twins Fan
Mon Jan 19, 2015 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can we afford to buy a house?
Replies: 28
Views: 2386

Re: Account disclosure requirements for refinance

Nope, I'm not confusing anything. I'm well aware of the difference between law and civil matter. I was simply giving a brief summary of what's been brought up about the disclosure issues in the thread. The OPs friends aren't comfortable with what's being asked of them, so don't enter the agreement. ...
by Twins Fan
Mon Jan 19, 2015 12:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Account disclosure requirements for refinance
Replies: 20
Views: 903

Re: Account disclosure requirements for refinance

For those of you saying to pay off the mortgage, please don't make this off-topic thread of mortgage versus no mortgage. I kind of think that is the topic now. The disclosure part has already been covered... there is no law, no specific standard, we've all had different experiences with disclosure,...
by Twins Fan
Mon Jan 19, 2015 11:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Account disclosure requirements for refinance
Replies: 20
Views: 903

Re: Account disclosure requirements for refinance

I think I had to show the previous six months of bank statements for one refinance. They said it was to see patterns/routines and if any large sums of money suddenly went in or out of the account. Just to make sure nothing fishy is going on recently, I guess. I've never been asked for retirement acc...
by Twins Fan
Mon Jan 19, 2015 7:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Account disclosure requirements for refinance
Replies: 20
Views: 903

Re: Account disclosure requirements for refinance

2). Most recent 2 months bank statements, all accounts, all institutions. They see this as excessive since they can show a single bank statement with enough cash to cover the loan amount by 2-3 times over, so they are planning to just disclose that account not the others. I think I see an easy way ...
by Twins Fan
Mon Jan 19, 2015 7:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Account disclosure requirements for refinance
Replies: 20
Views: 903

Re: Preparing for baby and one income

Yep, start living off just your salary now and save hers until she stops working. See what it's like and what needs to be cut out. When she stops working, you won't have to pay gas or commuting fees or maybe lunches out any longer. There may be some expenses cut by her not working. Only to be replac...
by Twins Fan
Sun Jan 18, 2015 12:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Preparing for baby and one income
Replies: 41
Views: 2328

Re: mortgage advice

The "best", as in lowest number, APRs are around the 2.75% there. The spread between the interest rate and the APR is a better thing to look at, really. The closer the better there. That means basically you're wrapping the least amount of fees into the loan, so the spread is small. If you ...
by Twins Fan
Sun Jan 18, 2015 11:39 am
 
Forum: Personal Finance (Not Investing)
Topic: mortgage advice
Replies: 8
Views: 676

Re: A refinance example that doesn't work?

First, in the current mortgage climate a 15 year at 3.75% with $2250 in closing costs is enough to kill the deal right there. That should be a lot closer to 3% or even under, or absolutely no closing costs at 3.75%. They should be able to do much better than that. Then, I don't see it making sense.....
by Twins Fan
Fri Jan 16, 2015 9:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: A refinance example that doesn't work?
Replies: 10
Views: 1073

Re: Another Refinance Question

How far along in the current mortgage is she? To knock $125 or so off the payment with the fees rolled in seems like she has had the current one for a while or prepaid some. To reset the 30 year clock.... What about a shorter term mortgage with a lower interest rate still and similar payment to the ...
by Twins Fan
Fri Jan 16, 2015 4:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Another Refinance Question
Replies: 11
Views: 647

Re: Increase Investing or Pay Down Mortgage?

He is pro paying down the mortgage as much as I can. He also makes the reminder that the money I put towards the condo to pay it off, I will get that money back when it comes time to sell. On the flip side, the money I put towards the mortgage is money that is not earning a return like it would if ...
by Twins Fan
Fri Jan 16, 2015 3:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Increase Investing or Pay Down Mortgage?
Replies: 16
Views: 2009

Re: Best 15 year (or similar) no cost mortgages

Oops, gotcha... went right over my head there. :oops: :)
by Twins Fan
Fri Jan 16, 2015 1:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best 15 year (or similar) no cost mortgages
Replies: 17
Views: 1492

Re: How much does a large payment reduce mortgage

Better yet, I just went to the mortgage professor site and ran it with the numbers given in the thread. It gives a savings of $13,924 and 23 months shorter on the loan. Sounds like those are the numbers showing up more often in this one.
by Twins Fan
Fri Jan 16, 2015 12:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much does a large payment reduce mortgage
Replies: 34
Views: 2648

Re: How much does a large payment reduce mortgage

Your extra payments over the last couple years don't impact the solution to your original post ; you only need the rate, the current loan balance, the new loan balance after the additional 10K , and the original monthly payment , i.e. 3.875% per annum , 187K, 177K, and 1,011 . This ^^ To figure out...
by Twins Fan
Fri Jan 16, 2015 12:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much does a large payment reduce mortgage
Replies: 34
Views: 2648

Re: Best 15 year (or similar) no cost mortgages

I think your numbers are off on the 1.89% example. It goes from roughly $3k/year interest paid for the first three years to about $5k in year four and about $6k in year five... that should be going the other way. :confused Either way though if you threw in the numbers for an aggressive paydown/payof...
by Twins Fan
Fri Jan 16, 2015 11:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Best 15 year (or similar) no cost mortgages
Replies: 17
Views: 1492

Re: Best 15 year (or similar) no cost mortgages

I didn't run any numbers here, so I may be off base. But, with your planned quick and aggressive pay off plan you are doing most of the interest savings yourself. Any difference between the current mortgage and a refinance to a slightly lower rate, I would say, is hardly going to be noticeable in th...
by Twins Fan
Thu Jan 15, 2015 12:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best 15 year (or similar) no cost mortgages
Replies: 17
Views: 1492

Re: Been out of market for 5 years, when get back in?

Am considering real estate instead... Sure, because that market never crashes.. :) We would need to know more about your situation overall. But from the sounds of your first post, I would agree with the others that a very conservative approach seems like it would fit you. Or, learn to tune out the ...
by Twins Fan
Wed Jan 14, 2015 7:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Been out of market for 5 years, when get back in?
Replies: 25
Views: 3053

Re: pay down mortgage or contribute to Fidelity 403b?

Seven percent rate of return?! Is that the expected return during retirement? That sounds like a pretty aggressive portfolio when one is living off the portfolio. I think you would be playing with fire that way.
by Twins Fan
Wed Jan 14, 2015 7:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: pay down mortgage or contribute to Fidelity 403b?
Replies: 8
Views: 838

Re: Help with starting a retirement account for my fiance?

If she's a teacher, she is likely in some type of pension plan. So, she is planning for retirement in a way. Even if the employer doesn't contribute or match anything, it still may not be bad for her to contribute if there are good funds available to her. I'm no expert, but I think it would be bette...
by Twins Fan
Wed Jan 14, 2015 7:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with starting a retirement account for my fiance?
Replies: 13
Views: 991

Re: Short term bonds in rising interest rates?

I should get the book out to quote it accurately, but I'm feeling lazy :happy ... I'm reminded of a line in Bogleheads Guide to Investing about how if predicting the stock market is difficult, predicting interest rate movement is about impossible. Unless it's money you need in a short time, don't wo...
by Twins Fan
Wed Jan 14, 2015 4:58 pm
 
Forum: Investing - Theory, News & General
Topic: Short term bonds in rising interest rates?
Replies: 26
Views: 2557

Re: rental property depreciation

I meant for someone that doesn't have to pay the capital gain part (2 out of 5 rule)... they still have to consider the depreciation recapture. I fully adimt to being a novice and having a very basic grasp of this part of rental property ownership. I am not a professional! :) ... corrections are wel...
by Twins Fan
Wed Jan 14, 2015 2:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: rental property depreciation
Replies: 25
Views: 1850

Re: When your spouse isn't quite as frugal as you

Snacks, meals, and coffee.... Jeez, I was expecting to see thousands on vacations, expensive purses, and other useless things when you don't have the money for it like my ex spouse. Then I was going to say, prepare to have an ex... :) I agree with others and you, OP... Sounds like hubby has made pos...
by Twins Fan
Wed Jan 14, 2015 12:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: When your spouse isn't quite as frugal as you
Replies: 94
Views: 8567

Re: pay down mortgage or contribute to Fidelity 403b?

I also contribute to a gov't 457b and will have a pension. I will be able to retire at a minimum age of 53 (plan rules) and would love to do so then. I will evaluate at the time though... that's a little over 11 years away. I would also start drawing my pension then along with the benifit of dipping...
by Twins Fan
Wed Jan 14, 2015 12:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: pay down mortgage or contribute to Fidelity 403b?
Replies: 8
Views: 838

Re: Am I on track for 2015?

I think you're doing great at your young age... good job!! I would say what is meant by tax advantaged before taxable, is if you know your tax advantaged contributions will only total $10k for the year don't go plowing money into taxable if more of check could go into a 401k. If you know your contri...
by Twins Fan
Wed Jan 14, 2015 11:54 am
 
Forum: Investing - Help with Personal Investments
Topic: Am I on track for 2015?
Replies: 2
Views: 458

Re: Refinance a 15 Yr fixed for .125% rate reduction?

I would call 3.125% good and stick with what you got. But, that's just me... I wouldn't bother with another 15 year to save .125% for a few years. The 7/1 ARM sounds interesting... But, if you're going to continue paying the same payment as the current 15 year, how much difference is there in princi...
by Twins Fan
Wed Jan 14, 2015 11:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Refinance a 15 Yr fixed for .125% rate reduction?
Replies: 6
Views: 865

Re: rental property depreciation

burt, Regardless of whether or not you sell this property within the next 3 years, I believe a portion of the gain attributed to depreciation taken or depreciation that could have been taken during the period of the time the property was a rental property will be recaptured as a taxable gain. It is...
by Twins Fan
Wed Jan 14, 2015 11:13 am
 
Forum: Personal Finance (Not Investing)
Topic: rental property depreciation
Replies: 25
Views: 1850

Re: rental property depreciation

If I've learned anything having a rental property, it's that many things about having one are NOT clear. :happy The way I take the "time of conversion" deal is that you figure out the value of the home on the date of converting it to a rental... so $750 for example (of course figure home v...
by Twins Fan
Wed Jan 14, 2015 11:08 am
 
Forum: Personal Finance (Not Investing)
Topic: rental property depreciation
Replies: 25
Views: 1850

Re: pay down mortgage or contribute to Fidelity 403b?

Oops, I totally missed that you still contribute and max out the 457b! Still though, say there's $250k in there at 47... is that enough to carry you until age 59.5?

Seems like a pretty big gap to bridge there.

I still say pay down the mortgage to get rid of that bill if retiring at 47 is the goal.
by Twins Fan
Wed Jan 14, 2015 10:54 am
 
Forum: Investing - Help with Personal Investments
Topic: pay down mortgage or contribute to Fidelity 403b?
Replies: 8
Views: 838

Re: pay down mortgage or contribute to Fidelity 403b?

It's nice to have goals, but.... :wink: Are you maxing out the 403b now and still have $1300 extra per month? The way I read the post, you no longer contribute to the 457b, right? I'm not familiar with the SEPP plan you mention and sounds like you're not all that confident in it, so I will comment a...
by Twins Fan
Wed Jan 14, 2015 10:43 am
 
Forum: Investing - Help with Personal Investments
Topic: pay down mortgage or contribute to Fidelity 403b?
Replies: 8
Views: 838

Re: What was your costliest investment mistake?

Getting married... and divorced... Getting married a second time... and divorced a second time!! :oops: :D

Investing wise though... not starting to even look into all this and start saving until I was 39! Luckily I found Bogleheads pretty much right off the bat and the BH style suited me.
by Twins Fan
Tue Jan 13, 2015 5:54 pm
 
Forum: Investing - Theory, News & General
Topic: What was your costliest investment mistake?
Replies: 119
Views: 9530

Re: Ever get 'Antsy' following BH

I'm a simple guy and admittedly a bit lazy. So, following the BH style suits me well. :) I have become "antsy", or almost obsessive about finding ways to save more and checking my account balances. Not that I make any changes based on that, but I like seeing the numbers move and grow... an...
by Twins Fan
Tue Jan 13, 2015 12:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ever get 'Antsy' following BH
Replies: 26
Views: 2697

Re: rental property depreciation

I have a slightly loopy idea that I'd like to get some feedback on. We bought a house for approximately $500k, lived in it for two years, and then turned it into a rental property a few months ago. I haven't done the rental property taxes yet, but presumably we will depreciate the non-land fraction...
by Twins Fan
Tue Jan 13, 2015 12:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: rental property depreciation
Replies: 25
Views: 1850

Re: Questions about mortgage refinancing

Oh, I also got your principal and interest monthly payment at about $1650. You must have included property taxes and insurance for the $2200/month? Switching to the 30 year with no cash out cut the payment to about $830/month and the 30 year with cash out to about $1200/month.
by Twins Fan
Mon Jan 12, 2015 6:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Questions about mortgage refinancing
Replies: 8
Views: 484

Re: Questions about mortgage refinancing

Running the numbers through some calculators, and just round numbers here.... You're 15 year mortgage had you paying about $72k over the life of the loan, which you have already paid $32k since 2010. Nicely done you're nearing half way there of the interest paid. Switching to a 30 year at the curren...
by Twins Fan
Mon Jan 12, 2015 6:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Questions about mortgage refinancing
Replies: 8
Views: 484

Re: Why not just let cash be cash?

I'd say it's a personal choice. Cash just sitting there for a long time is likely to lose purchasing power as or if inflation goes up and the cash is not growing along with it. But, for the risk averse it's one of the better safe options out there. Some folks hold lots of cash as simply cash. Money ...
by Twins Fan
Mon Jan 12, 2015 5:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why not just let cash be cash?
Replies: 27
Views: 2508

Re: Questions about mortgage refinancing

Worth it?.... No, not to me. Either option going to a 30 year mortgage means you're agreeing to pay 3.875% interest for 35 years (since you already paid 5 years). You're agreeing to pay quite a bit in interest then, when you originally made a good choice to take out a 15 year mortgage and not pay mu...
by Twins Fan
Mon Jan 12, 2015 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Questions about mortgage refinancing
Replies: 8
Views: 484

Re: Why Is "Deflation" A Bad Thing??? How To Prepare/Profit

It seems the thread here is talking mainly about the "majority of Americans". I would say the majority of Americans have had stagnant wages for decades now while inflation kept on keeping on. Sure, maybe inflation was at lower rates, at least recently... Most Bogleheads would probably say ...
by Twins Fan
Mon Jan 12, 2015 1:38 pm
 
Forum: Investing - Theory, News & General
Topic: Why Is "Deflation" A Bad Thing??? How To Prepare/Profit?
Replies: 87
Views: 6139

Re: Is this a good refinance loan?

To knock just over 2 percentage points off the interest rate and shorten the loan duration... I'd say, yes, good idea if you plan to just pay the monthly payment and stay on schedule. Is there any plans or a chance to prepay? I ask since you mention the HELOC idea. Prepaying could factor into it. If...
by Twins Fan
Mon Jan 12, 2015 12:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is this a good refinance loan?
Replies: 5
Views: 417

Re: Immediate fixed income suggestions

Greatness wrote: No reason for a personal attack Gil.


Two wrongs don't make a right. :wink:

You're very defensive in this one, Greatness. If you know what you want to do with the portfolio and don't want questions and critiques, why post....
by Twins Fan
Mon Jan 12, 2015 12:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Immediate fixed income suggestions
Replies: 74
Views: 3389

Re: Immediate fixed income suggestions

I would like to say, no, since it wouldn't be mine until after the passing of the other person. But, I've never been in that position, so.....
by Twins Fan
Mon Jan 12, 2015 12:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Immediate fixed income suggestions
Replies: 74
Views: 3389
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