Search found 1523 matches

by Carefreeap
Tue Jan 24, 2017 6:29 pm
Forum: Personal Consumer Issues
Topic: Best Places to Live in US?
Replies: 60
Views: 3667

Re: Best Places to Live in US?

Wow! Thank you everyone for all your input. I really appreciate your time. Being from California its tempting to look for places to move to that housing doesnt take up sauch a large percentage of income. However like many have stated there are a lot of trade-offs to consider. Being from San Luis Ob...
by Carefreeap
Tue Jan 24, 2017 5:36 pm
Forum: Personal Consumer Issues
Topic: Best Places to Live in US?
Replies: 60
Views: 3667

Re: Best Places to Live in US?

[quote="Valuethinker And Phoenix also struck me as the worst of hells. You get the hassles of big city living (traffic, subdivisions etc.) AND the hassles of desert (dust storms, heat waves) AND you get the allergens (from all the transplanted greenery) AND you don't get the benefits of living ...
by Carefreeap
Tue Jan 24, 2017 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for some links/advice on medicaid trusts
Replies: 3
Views: 226

Re: Looking for some links/advice on medicaid trusts

This isn't a comment on ethics but more about doing your homework. As you can read about in other threads here, depending on the area they (or you if you wind up having them relocate to be closer to you) live in the facilities that will accept Medicaid patients may be very limited and very bare bone...
by Carefreeap
Mon Jan 23, 2017 8:53 pm
Forum: Personal Consumer Issues
Topic: sue renters
Replies: 12
Views: 2109

Re: sue renters

we did not get a deposit because we rented to a company that rents high end homes for rehab clients,,,they only sleep there. and the deal was a 17,000 non refundable down for a year as an option to buy it. the year has passed and the money is ours now, they rented another year and it is coming to a...
by Carefreeap
Mon Jan 23, 2017 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Finances and Signficant Other/Future finances
Replies: 5
Views: 614

Re: Finances and Signficant Other/Future finances

When we first started living together we split common expenses based on our incomes therefore we split the expenses 1/3 me 2/3 DH. We were responsible for payment of the debt we brought in. Once we married we started living on DH's income and other than an agreed upon "allowance" and 401 w...
by Carefreeap
Mon Jan 23, 2017 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about Medicaid and Nursing Home Admissions/Patient Management
Replies: 16
Views: 1132

Re: Questions about Medicaid and Nursing Home Admissions/Patient Management

she began to think that staff were continually coming into her room and stealing everything, including trivial items like towels, kitchen utensils, on and on. It got so bad she was calling us several times a day to report thefts, insisting that she had to move away, crying, agitated, threatening to...
by Carefreeap
Mon Jan 23, 2017 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage-Trust Question
Replies: 7
Views: 407

Re: Mortgage-Trust Question

It may vary State by State but most mortgage companies aren't going to approve a mortgage to a Trust which isn't generating income. Typically the individual(s) have to apply and qualify for the mortgage and then transfer title to their property to their revocable Trust. One of the features of the Ga...
by Carefreeap
Mon Jan 23, 2017 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about Medicaid and Nursing Home Admissions/Patient Management
Replies: 16
Views: 1132

Re: Questions about Medicaid and Nursing Home Admissions/Patient Management

I have nothing to add but want to express my thanks for the poster who posed the question and the thoughtful responses thus far. My husband and I have aging parents for whom we have different concerns. My 82 MIL is financially stable and has excellent LTC insurance but is exhibiting beginning signs ...
by Carefreeap
Mon Jan 23, 2017 10:28 am
Forum: Personal Consumer Issues
Topic: FHA loan 3 years after foreclosure
Replies: 7
Views: 614

Re: FHA loan 3 years after foreclosure

It's included in your payment. You can work it out backwards by removing the taxes to calculate your effective interest rate by using a financial calculator or program. Might find something on Bankrate.com. Interesting that there's no payment for hazard insurance. You'll need to add that to your mo...
by Carefreeap
Sun Jan 22, 2017 2:39 pm
Forum: Personal Consumer Issues
Topic: FHA loan 3 years after foreclosure
Replies: 7
Views: 614

Re: FHA loan 3 years after foreclosure

It's included in your payment. You can work it out backwards by removing the taxes to calculate your effective interest rate by using a financial calculator or program. Might find something on Bankrate.com. Interesting that there's no payment for hazard insurance. You'll need to add that to your mon...
by Carefreeap
Sun Jan 22, 2017 11:38 am
Forum: Personal Consumer Issues
Topic: FHA loan 3 years after foreclosure
Replies: 7
Views: 614

Re: FHA loan 3 years after foreclosure

I think your loan guy is right. My tenants were able to buy conventional three years after the wife did a voluntary deed in lieu. With a nearly 730 FICO score you might qualify for a conventional loan. FHA is a lot easier to qualify for; lower down payment, FICO and more generous qualifying rations...
by Carefreeap
Sun Jan 22, 2017 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Anyone file "decline in value" for property taxes? Advice?
Replies: 26
Views: 1697

Re: Anyone file "decline in value" for property taxes? Advice?

Mud puppy is spot-on. They are going to look at your "appealed" assessment every year until they get back to your purchase price. Then it will revert to the 2% limit. For example, someone could have a fire burn down their structure and get a temporary reduction in value during the two year...
by Carefreeap
Sat Jan 21, 2017 11:22 pm
Forum: Personal Finance (Not Investing)
Topic: Turned down for Citibank Costco Visa
Replies: 20
Views: 2409

Re: Turned down for Citibank Costco Visa

It's important to distinguish between hard pulls and soft pulls. Chase should not be making hard pulls without your consent. Dispute this with chase and with the bureaus. Other lenders cannot see soft pulls so those could not have been an issue. Find the reconsideration phone number for Citi, and c...
by Carefreeap
Sat Jan 21, 2017 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone file "decline in value" for property taxes? Advice?
Replies: 26
Views: 1697

Re: Anyone file "decline in value" for property taxes? Advice?

When did you buy your property and for how much? About a year ago for 1.55 M What is your current assessed value? 1.58M What do you estimate the current market value of your home? 1.5M (80k less than their assessment) I have protested my taxes in CA twice (N. San Diego County) during the recession....
by Carefreeap
Sat Jan 21, 2017 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone file "decline in value" for property taxes? Advice?
Replies: 26
Views: 1697

Re: Anyone file "decline in value" for property taxes? Advice?

When did you buy your property and for how much? What is your current assessed value? What do you estimate the current market value of your home? I have protested my taxes in CA twice (N. San Diego County) during the recession. We bought in 2005 close to the peak of the market. I was successful in h...
by Carefreeap
Sat Jan 21, 2017 6:59 pm
Forum: Personal Consumer Issues
Topic: backyard - Accessory Dwelling Unit ...
Replies: 9
Views: 1319

Re: backyard - Accessory Dwelling Unit ...

Make sure you check out your local land use ordinance for details on what is and isn't allowed. You may be pleasantly surprised, but it's best to do this early. And since the zoning and building rules are up to the county and city in California, what applies in one part of California does not apply...
by Carefreeap
Sat Jan 21, 2017 6:45 pm
Forum: Personal Consumer Issues
Topic: FHA loan 3 years after foreclosure
Replies: 7
Views: 614

Re: FHA loan 3 years after foreclosure

I think your loan guy is right. My tenants were able to buy conventional three years after the wife did a voluntary deed in lieu. With a nearly 730 FICO score you might qualify for a conventional loan. FHA is a lot easier to qualify for; lower down payment, FICO and more generous qualifying rations....
by Carefreeap
Fri Jan 13, 2017 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Let's say you are dying this year
Replies: 46
Views: 6596

Re: Let's say you are dying this year

I know you and your Dad are focused on optimizing the money side of the equation and you're getting some good tips. What about your Mom? We just returned from a trip to my MIL. It was apparent that what she needs more than anything is time spent with her talking about all of these objects she has co...
by Carefreeap
Fri Jan 13, 2017 11:41 am
Forum: Personal Finance (Not Investing)
Topic: reduce taxes on house sale
Replies: 4
Views: 738

Re: reduce taxes on house sale

When you take out "boot" in a 1031 exchange, the total amount taken out is taxable (unless it exceeds the gain, but then there wouldn't be any point to the exchange). Taxability is a "worst first" model, so the first part of the boot would be recapture of depreciation, then long...
by Carefreeap
Thu Jan 12, 2017 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Doing an intra-family loan
Replies: 18
Views: 982

Re: Doing an intra-family loan

We borrowed about 10% of a sales price from my MIL when we bought a move-up house non-contingent on the sale of our old house. We could have borrowed all of it but it was cheaper and easier to borrow from my MIL. Once we sold the old house we paid her off; about 10 months later. $200k is a lot of mo...
by Carefreeap
Wed Jan 11, 2017 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: reduce taxes on house sale
Replies: 4
Views: 738

Re: reduce taxes on house sale

The 1031 exchange can continue to defer paying taxes on the gain. Just make sure it's done right. I highly recommend using a CPA who does a lot of these. The basics are that she needs to identify a similar property or properties that total the sales price or higher than the exchanged property, it ha...
by Carefreeap
Tue Jan 10, 2017 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Dumping An Out Of State Condo
Replies: 8
Views: 1020

Re: Dumping An Out Of State Condo

Start by googling the address of the Condo complex to see what real estate agents have/had current/recent listings there. Sometimes if it's a large enough complex there will be a real estate agent who specializes in the complex. When a relative had to sell a condo in California there was a real est...
by Carefreeap
Tue Jan 10, 2017 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Transfer of small beach cottage
Replies: 5
Views: 482

Re: Transfer of small beach cottage

It would be helpful to know what State the property is located in. Probate processes can be vastly different depending on what State we are talking about. I have dealt with CA which is a PITA; it's long, slow and expensive. Not every State is like that. What are the other assets? Those might also be...
by Carefreeap
Tue Jan 10, 2017 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Need estate advice - promissory note?
Replies: 12
Views: 986

Re: Need estate advice - promissory note?

I have an update on this. Net is that I can extract myself from being a lien holder on the house. Family member has agreed to liquidate a retirement account if I'm willing to pay the 10% penalty, which I'm willing to do. However, would I be taxed on this at ordinary income? Because it would be liqu...
by Carefreeap
Tue Jan 10, 2017 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Looking to hear from interest rate prognosticators...what to do with my ARM
Replies: 11
Views: 465

Re: Looking to hear from interest rate prognosticators...what to do with my ARM

I think what you are doing is terrific. Continue to aggressively pay down so that by the time the rate adjusts, worst case it will only be 4.625 % for a much smaller amount of principal. If you have any spreadsheet skills, prepare an amortization schedule for yourself and see what the numbers would...
by Carefreeap
Mon Jan 09, 2017 5:29 pm
Forum: Personal Consumer Issues
Topic: 4 Months Abroad - what to do before we leave?
Replies: 35
Views: 2139

Re: 4 Months Abroad - what to do before we leave?

In another post you stated that you live in N. Texas. Are pack rats or other rodents in your area? The reason I ask is I have had problems with pack rats doing significant damage to my cars parked outside in AZ and So. CA. My car actually caught fire from a pack rat nest which was built on my car's ...
by Carefreeap
Sun Jan 08, 2017 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Purchase of vacation home from friend
Replies: 3
Views: 454

Re: Purchase of vacation home from friend

Have you always wanted this property?

Can you afford a vacation home? What do the rest of your finances look like?

FWIW we are vacation home owners but recognize that it's a toy not a real investment which we may not get any financial benefit.
by Carefreeap
Sat Jan 07, 2017 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Conversion of Inherited Home into Primary Residence worthwhile?
Replies: 13
Views: 904

Re: Conversion of Inherited Home into Primary Residence worthwhile?

[quote="BogleLearner "There is something to be said for simplification. This home is in an area where home values have remained solid with great access to city amenities. I generally hate to fork over more to Uncle Sam than necessary, so I may go through the ordeal anyway. Thank you all ag...
by Carefreeap
Sat Jan 07, 2017 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Conversion of Inherited Home into Primary Residence worthwhile?
Replies: 13
Views: 904

Re: Conversion of Inherited Home into Primary Residence worthwhile?

I have an inherited home through my family in another state. After review of Housing Assistance Tax Act of 2008, P.L. 110-289 - IRS publication, I am wondering if it would be worthwhile to convert it into a primary residence, since I will not be able to apparently claim much of the $250,000 capital...
by Carefreeap
Fri Jan 06, 2017 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Conversion of Inherited Home into Primary Residence worthwhile?
Replies: 13
Views: 904

Re: Conversion of Inherited Home into Primary Residence worthwhile?

Make sure to talk to a CPA about your idea to convert what is now a rental house into a primary. The rules changed as of 1/1/2009. Now you have to pro-rate the gain between the time as a primary and rental. You may find that the "savings" in taxes is not worth the cost and hassle of moving...
by Carefreeap
Fri Jan 06, 2017 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: selling property without real estate agent
Replies: 19
Views: 1421

Re: selling property without real estate agent

Another thought, if you know a local R/E agent they will probably do the paperwork for you for $200 bucks. It would take me a couple of hours to gather the information about proration of taxes, security deposit for renters, outstanding city ordered work orders, etc. Then I would collect electronic ...
by Carefreeap
Wed Jan 04, 2017 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Rent or buy in HCOL
Replies: 6
Views: 879

Re: Rent or buy in HCOL

I found it entertaining and pretty smug. I think very few people could or would want to live a life like that. Imagine trying to live that kind of lifestyle with kids, pets or aging parents who need your help. It's certainly not for us. We like where we live in our VHCOLA. There's a reason it's so e...
by Carefreeap
Tue Jan 03, 2017 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Complicated Estate/Trust Questions
Replies: 22
Views: 1776

Re: Complicated Estate/Trust Questions

Would that one sib actually qualify? In my case my brother is great with all kinds of schemes. At the time of my mother's illness his FICO was less then 500 since he had been in some state of foreclosure ever since he bought the family home 10 years before from my folks . I'm not kidding when I say ...
by Carefreeap
Tue Jan 03, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Changing State of Residency to Avoid State Income Taxes
Replies: 24
Views: 2683

Re: Changing State of Residency to Avoid State Income Taxes

But if we still own a rental/vacation home in CA, does that mean CA will still claim our retirement income is taxable in CA? Expect California to challenge your first partial year Cali tax return after you move, when they get around to it. They will not know that you just retired, so your greatly r...
by Carefreeap
Mon Jan 02, 2017 5:41 pm
Forum: Personal Consumer Issues
Topic: Is it rude to dispose of unwanted gifts?
Replies: 60
Views: 5167

Re: Is it rude to dispose of unwanted gifts?

I wish people would stop using this sort of language. It has to be really, really bad to rise to the level of "mental illness". I suppose "emotional issue" could be a mild enough term, if you consider pretty much everything anybody ever does as an "emotional issue". Ot...
by Carefreeap
Mon Jan 02, 2017 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Properties and Asset Allocation
Replies: 12
Views: 1308

Re: Rental Properties and Asset Allocation

In a universe with only 2 asset classes, another vote for bond like. Real estate is considered a high risk equity asset due to the high cost of entry, illiquidity and the high cost to exit (due to commissions and other closing costs). You want to group assets by how they act. Direct holdings of rea...
by Carefreeap
Mon Jan 02, 2017 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Rental Properties and Asset Allocation
Replies: 12
Views: 1308

Re: Rental Properties and Asset Allocation

Real estate is considered a high risk equity asset due to the high cost of entry, illiquidity and the high cost to exit (due to commissions and other closing costs). The counter to that would be to invest your other monies in things like cash and bonds which are less volatile. But I think this is ve...
by Carefreeap
Sun Jan 01, 2017 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Complicated Estate/Trust Questions
Replies: 22
Views: 1776

Re: Complicated Estate/Trust Questions

Interesting. Part of me wondered if you were the owner heir, especially with the lifetime commitment comment. Did you actually pay anything for the house? Is the guilt tripping sib the one who didn't do anything? I think you can use my earlier post as a guideline and plug in your own numbers and adj...
by Carefreeap
Sun Jan 01, 2017 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Complicated Estate/Trust Questions
Replies: 22
Views: 1776

Re: Complicated Estate/Trust Questions

If people don't have any more of the story than what OP has posted, their opinions of the "owner/heir" will mostly be shaped by what they think of him in the first place. If they think he is caring and generous and honest, they will be happy to do business with him and appreciate the help...
by Carefreeap
Sat Dec 31, 2016 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Is it possible to graduate from college in 3 years?
Replies: 101
Views: 4562

Re: Is it possible to graduate from college in 3 years?

I did it in 3 years and a quarter. UCSD graduated in 1983 Double major, worked part-time freshman year, full-time from sophomore year on, and was partially supporting a boyfriend. :oops: I would not recommend what I did. I was very, very burned out. Came in with one AP test credit (think it was 3 un...
by Carefreeap
Sat Dec 31, 2016 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Complicated Estate/Trust Questions
Replies: 22
Views: 1776

Re: Complicated Estate/Trust Questions

We really don't have enough information, because we don't know what the "owning heir" paid for the house, or how much was spent on taxes and repairs, or how much the home value appreciated compared to how that money would have done in a simple 3 fund portfolio, for example. It's possible ...
by Carefreeap
Sat Dec 31, 2016 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Complicated Estate/Trust Questions
Replies: 22
Views: 1776

Re: Complicated Estate/Trust Questions

We really don't have enough information, because we don't know what the "owning heir" paid for the house, or how much was spent on taxes and repairs, or how much the home value appreciated compared to how that money would have done in a simple 3 fund portfolio, for example. It's possible ...
by Carefreeap
Sat Dec 31, 2016 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Complicated Estate/Trust Questions
Replies: 22
Views: 1776

Re: Complicated Estate/Trust Questions

Agree with the confusion. If the deceased did not own the house, then the will does not cover the house. That transaction was made long ago. If there was no more property to deal with, then no one inherits anything, except perhaps the household contents - old furniture and linens and crock pots. Hm...
by Carefreeap
Sat Dec 31, 2016 12:02 am
Forum: Personal Finance (Not Investing)
Topic: Complicated Estate/Trust Questions
Replies: 22
Views: 1776

Re: Complicated Estate/Trust Questions

Now I'm really confused.

Title is not in the deceased's name but the rest of the family feels they are entitled to a share?
by Carefreeap
Fri Dec 30, 2016 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Complicated Estate/Trust Questions
Replies: 22
Views: 1776

Re: Complicated Estate/Trust Questions

I find it hard to believe that an heir was able to refinance a house without also being a co-owner of some kind. The remaining heirs need to look at what kind of contribution the occupying heir gave vs the benefits. For example, who was paying the taxes, insurance, and upkeep? Where there other serv...
by Carefreeap
Fri Dec 30, 2016 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Multi Millionaire with no credit rating
Replies: 52
Views: 5232

Re: Multi Millionaire with no credit rating

Yea its hilarious right? I never even got to the credit limit. I can try my bank, problem is I don't keep much there only minimums to get free checking. Keeps me on a budget lol ! I guess they only want people they can make money off of. I plan on opening a Syncrony high yield savings account with ...
by Carefreeap
Thu Dec 29, 2016 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Changing State of Residency to Avoid State Income Taxes
Replies: 24
Views: 2683

Re: Changing State of Residency to Avoid State Income Taxes

Won't your tax issue mostly go away when you retire? +1 I highly encourage people to actually do the math. Going through all kinds of contortions to avoid a couple of thousand dollars in State tax can often cost you more in the long run. Even if you move to another State if you have CA real estate ...
by Carefreeap
Thu Dec 29, 2016 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house for MIL
Replies: 14
Views: 1318

Re: Buying a house for MIL

Sounds like you would be buying yourself a whole bunch of problems and possibly interfering in someone's life who isn't asking for help. I don't mean to come across as harsh; it sounds like you have good intentions but these kind of family situations can come across like someone doesn't know how to ...
by Carefreeap
Tue Dec 27, 2016 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Accidental Rental - Sell or "One more year"
Replies: 16
Views: 1534

Re: Accidental Rental - Sell or "One more year"

[quote="onthecuspI've never quite understood the glee people have when their house sells almost instantly. Sure, sometimes it is a necessity, but for the most part I have always figured that was an indication that the price was lower than they could have gotten, even with multiple offers. There...
by Carefreeap
Tue Dec 27, 2016 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Accidental Rental - Sell or "One more year"
Replies: 16
Views: 1534

Re: Accidental Rental - Sell or "One more year"

Any chance renters could buy & save you commission/costs? [I wouldn't suggest taking back paper, however.] I wouldn't switch renters at this stage for the type of increase your manager is suggesting--too much risk & you'll owe a fee to him for finding new tenants. It's impossible to predict...

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