Search found 32 matches

by umk
Fri Jul 16, 2021 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1265316

Re: Refinance Mega Thread

ChiKid24 wrote: Fri Jul 16, 2021 12:29 pm Some good news that could help pricing. Fannie and Freddie removing the fee they added last year.

https://www.cnbc.com/2021/07/16/fannie- ... owers.html
My refinance loan got funded today with Better mortgage, 30 year @2.75% with $2970 lender credit (out of pocket cost was $279) + $2K AMEX bonus.
Looks like because of the news above, now I see the same loan being offered on Bankrate for no-cost 30 year @2.5%

My question is
1. Does it make sense for me to start new refinance loan with Better mortgage?
2. Will they offer such a loan to me within such a short duration? (I read on this thread that I am supposed to wait 6 month).
Thanks in advance.
by umk
Wed May 26, 2021 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1265316

Re: Refinance Mega Thread

Locked with Better.com yesterday.
New loan 300k (no escrow), 30 year @2.75% with $1821 lender credit
LTV 57%, credit score 800+

A=0, B=764, C=2471, E=128
by umk
Fri May 21, 2021 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1265316

Re: Refinance Mega Thread

There is no much dishonesty going on. I happened to see good rate on Credit Karma and contacted New American Funding. The loan officer quoted 30-year rate @2.625% with no points. I had to make the application, submit tons of documentation before he would give loan estimate. LE showed higher loan amount than what I requested, quoted @2.625% with Section A fees of $3602. When I called him, he insisted that those are not points. So I said that I would not have applying has he disclosed it upfront and he just said, cancel the application. I said in the affirmative and he just hung up. It is so frustrating. :annoyed
by umk
Fri May 21, 2021 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1265316

Re: Refinance Mega Thread

Hello, Here is my information. I had taken voluntary separation from prior employer in May 2020. Current outstanding mortgage $330k @3.25% 30 years original, monthly $1732 I had tried to refinance with Better in November 2020 for $353k rate was locked @ 2.5% no points/credit (outstanding loan was $350k that time). but they denied it that time since I was unemployed that time. I started new job only last month (got just 2 pay-stubs) and planning to refinance. Will it work this time around? Now I am in the process to get quotes for $300k loan 30 year so monthly around $1205. (Estimated property value $515k as per Better appraisal they did in Nov 2020, so LTV ~58%, Credit 800+) Will be happy to get 30 year mortgage around @2.625% no points or ...
by umk
Tue Jun 23, 2020 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: How to handle old 401k
Replies: 2
Views: 378

How to handle old 401k

My employer (Company "A") had ownership change last year and new employer (Company "B") had their own 401k. I have about $1 million in Plan A and $35k in Plan B. For both 401k plans, I have money buckets as pre-tax, after-tax and Roth 401k. Plan A has 44% Roth, 7% after-tax, rest is pre-tax. Plan B has $5700 in Roth, $1400 after-tax, rest is pre-tax. I retired from my employer last month. I was planning to leave the money as it is, because I was comfortable with the fund choices. (Vanguard/Fidelity index funds) Now I got letter that I must move money from Plan A because the plan is terminating soon. I evaluated my choices: 1. Move money from Plan A (Fidelity) to Plan B (The idea is that the money remains in 401k bucket i...
by umk
Mon May 11, 2020 9:32 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2020!
Replies: 318
Views: 70848

Re: Roll Call for the Retirement Class of 2020!

Umk - what are you going to do in your new freedom? I had thought about this for a LONG time before the actual retirement date. Here is my plan: 1. Exercise - 1 hour daily (I plan to run, bike, walk, run, bike, walk, rest 1 day). I want to start preparing for Half Marathon. I can barely run 5 miles. 2. Reading books - 1 hour daily 3. Gardening - 1 hour daily 4. Browsing websites etc. - 1 hour daily 5. Online classes or at community college - 1 hour daily. (I am doing free class on Valuation offered by NYU Professor Aswath Damodaran). 6. Software development/start a small business mainly to help students and/or create jobs - 2-3 hours daily. My entire life was in IT programming, so that is all I know about. A few things to try: Research ind...
by umk
Mon May 11, 2020 5:33 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2020!
Replies: 318
Views: 70848

Re: Roll Call for the Retirement Class of 2020!

After 19 years at the same company (without ever getting a single promotion), I turned in my laptop, corporate card and badge last Thursday 5/7/2020 around 11 am and walked out of the building without any regret. I am looking forward to my retirement and freedom. (Age 52) :beer
by umk
Mon May 11, 2020 5:32 pm
Forum: Investing - Theory, News & General
Topic: At what moment does retirement begin?
Replies: 68
Views: 7069

Re: At what moment does retirement begin?

After 19 years at the same company (without ever getting a single promotion), I turned in my laptop, corporate card and badge last Thursday 5/7/2020 around 11 am and walked out of the building without any regret. I am looking forward to my retirement and freedom. :beer
by umk
Sat Apr 07, 2018 9:27 pm
Forum: Investing - Theory, News & General
Topic: What is your AA, given your age? and, Why?
Replies: 284
Views: 43265

Re: What is your AA, given your age? and, Why?

Age 50 AA is 90:10 Technically, I am in 100% equity, but the 10% is in short term and intermediate term bonds as educational expenses.
I have absolutely no problem having high percentage in equity as long as I have cash coming in and ready to be deployed.
by umk
Sat Apr 07, 2018 6:28 pm
Forum: US Chapters
Topic: Woodlands TX Bogleheads Master Thread
Replies: 16
Views: 6871

Re: Woodlands TX Bogleheads Master Thread

Happy to announce that first meeting of the chapter was held today. It was introductory meeting. About 10 persons attended. Thanks Scott for arranging this one. Next meeting is tentatively scheduled for first Saturday in June.
by umk
Sun Mar 11, 2018 1:02 am
Forum: US Chapters
Topic: New Woodlands, Texas Local Chapter
Replies: 24
Views: 8233

Re: New Woodlands, Texas Local Chapter

I would be interested to attend Woodlands chapter.
by umk
Sun Mar 11, 2018 12:50 am
Forum: US Chapters
Topic: Houston Chapter
Replies: 140
Views: 57819

Re: Houston Chapter

Would like to attend...
by umk
Sun Mar 11, 2018 12:11 am
Forum: Personal Investments
Topic: Can I take an 85+% pay cut for fun?
Replies: 88
Views: 15030

Re: Can I take an 85+% pay cut for fun?

I am almost in the same position, working as a Software developer and doing work that I don't enjoy at all. I am in the same position for last 15 years, never promoted even once. (I stopped asking long ago after I tried 2-3 times). No merit raise for last 5 years (due to bad days in the industry). Last year, I had a fight with my then-manager which resulted in "Needs development" rating and cost me almost $25K bonus. Luckily, she has moved on to new project, and current manager is more humane. I can retire today if I wanted to. I casually mentioned to my colleague once that 1% change in stock market moves my portfolio 10 times the raise I would get. But I anticipate getting around $400K additional pension money after 5 more years....
by umk
Mon Jan 01, 2018 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: PenFed messed up my mortgage payment - again
Replies: 8
Views: 1853

Re: PenFed messed up my mortgage payment - again

Colorado13 wrote: Mon Jan 01, 2018 7:06 pm So, I paid two years of property tax to Penfed this year: one year was withdrawn via escrow as part of my monthly payment and one year was paid in December to the county.
Are they under obligation to adjust monthly payment just because someone paid tax in advance? or they doing it as a customer courtesy?

I have never opted for escrow account for my primary residence, for this reason so that I can have full control over payment of property-tax, insurance etc. Also, I don't want the bank to use my money interest-free for a year.
by umk
Mon Jan 01, 2018 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block 2017 Tax Software $9.95 , State $14.95
Replies: 61
Views: 14405

Re: H&R Block 2017 Tax Software $9.95 , State $14.95

umk wrote: Fri Dec 15, 2017 12:46 am 1. Can I import last year's Turbo-tax return file to H&R block? I did a search on H&R block site, but could not find an answer. My big concern is whether it will import depreciation and balance values (cost basis) for the rental properties.
Update for others:
The deal is still valid. I was able to import Turbo-tax file to H&R Block without any issue whatsoever and cost basis was also imported.
Note: The license code you get needs to be typed-in. Copy-paste does not work.
Thanks.
by umk
Fri Dec 15, 2017 12:53 am
Forum: Personal Consumer Issues
Topic: Lexus RX 350 - new vs. preowned
Replies: 29
Views: 5057

Re: Lexus RX 350 - new vs. preowned

DW drives RX-350 year 2012 model. We purchased it brand new, based on past experience of buying "depreciated" vehicle. Now I buy new vehicles and am planning to keep them as long as they run or until we are tired of them.

BTW, DW wanted to buy RAV4 because RX-350 was expensive. I was the one who insisted on spending that extra money since she drives to work 1 hour each way. Now she LOVES it. That alone was worth the extra money I paid. YMMV. :beer
by umk
Fri Dec 15, 2017 12:46 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block 2017 Tax Software $9.95 , State $14.95
Replies: 61
Views: 14405

Re: H&R Block 2017 Tax Software $9.95 , State $14.95

1. Can I import last year's Turbo-tax return file to H&R block? I did a search on H&R block site, but could not find an answer. My big concern is whether it will import depreciation and balance values (cost basis) for the rental properties.
2. I need to issue 1099-MISC to someone and then report it to IRS. Can I buy premium version for $24.95 and is there an option to upgrade to business version $39.95. I really hate to pay extra $15 just to create a single 1099-MISC I need to issue, but I am willing to pay that price to move away from Turbotax. I do not have S-corp, C-corp or anything like that. Everything is DBA (against my SSN) only.
I want to grab the deal before it expires.
Thanks.
by umk
Sun Dec 10, 2017 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 financial goals - what are yours?
Replies: 92
Views: 15591

Re: 2018 financial goals - what are yours?

Same goals like every year:
Increase net worth by 10%
Reduce outstanding debt by 10%
by umk
Fri Dec 08, 2017 9:05 pm
Forum: Personal Consumer Issues
Topic: Linux based laptop or just a Windows based laptop formatted?
Replies: 49
Views: 4996

Re: Linux based laptop or just a Windows based laptop formatted?

I am a FLOSS supporter and buy my GNU/Linux laptop from https://system76.com
I have been very happy with them. Honestly I don't miss ANY software from Windows world (except turbo-tax software). :oops:
by umk
Fri Dec 08, 2017 8:59 pm
Forum: Personal Investments
Topic: Retire in my early 40s? Crazy or actually doable?
Replies: 77
Views: 14634

Re: Retire in my early 40s? Crazy or actually doable?

... My job is tough and stressful so to not do it would be very nice indeed. you have worked hard and done an awesome job building your nestegg. if you have constructive things you'd like to do with your time, like restore a '66 GTO, or run marathons, or build an addition to your house... things that are time sensitive (you will not be able to do them when you're 60) then by all means "retire" now and live your life. you can always pick up part time work in a few years if you need/want to. but money can't buy time and it can't buy youth... once that's gone its gone. I am mid 40's and my passion (outside of family/work) is pole vaulting (actually doing it, not watching).... which is extremely time sensitive. If I could retire now ...
by umk
Mon Dec 04, 2017 8:38 pm
Forum: Investing - Theory, News & General
Topic: One answer to the Dividend stocks puzzle from behavioral finance
Replies: 184
Views: 19921

Re: One answer to the Dividend stocks puzzle from behavioral finance

(quoting Investopedia) "Many investors like the steady income associated with dividends..."

This quote illustrates part of the problem: we're not all using words the same way. I'm used to thinking of "income" as the money you take out of your portfolio in order to spend it; since this quantity is entirely under your control, it makes no sense to talk about its "steadiness", as if it weren't.
If you think that income is not appropriate,then consider it as follows:
"Many investors like the steady cashflow associated with dividends..."
by umk
Mon Nov 13, 2017 3:14 pm
Forum: Personal Consumer Issues
Topic: [Books that changed your life]
Replies: 577
Views: 72736

Re: Any books really change your outlook on life?

Two books have had profound impact on me. 1) Horse Sense: The Key to Success Is Finding a Horse to Ride by Al Ries and Jack Trout This one taught me that to be successful, you have to view yourself as a product rather than as an employee. Trying harder, believing in yourself, and thinking positively are not steps up the ladder of success. Success is something given to you by others. You have to go out and market yourself and get others to make you successful. (Luckily, I found this book at the right time; as soon as I had finished my college, in the library of my first employer. This prompted me to come to USA. The ride has been great so far. 8-) :sharebeer 2) Thinking Fast and Slow by Daniel Kahneman This one taught me that experiences and...
by umk
Fri Apr 28, 2017 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: Sell Condo or Rent it out
Replies: 16
Views: 2192

Re: Sell Condo or Rent it out

I have several rental properties, but I stay away from condos and all my properties are within 30 minutes driving distance. The monthly HOA dues eat into your profit, maintenance cost goes high for amenities you may not use, condos do not appreciate as fast as SFR, too many rentals are a problem for mortgage etc. Another thumb rule is that if the property does not give you monthly rent equal to 1% of property value, most likely cash flow will not be positive and your profit will depend only on appreciation.

If I were in your position, I would sell.
by umk
Fri Apr 28, 2017 11:10 pm
Forum: Personal Finance (Not Investing)
Topic: Online real estate class-NYS
Replies: 6
Views: 930

Re: Online real estate class-NYS

I currently have a full time job so it would be part time at first If you intend to do this full-time, I would advise "Think twice". Unless you live in HCOL area and are selling million+ dollar homes, it's not worth it IMO. The reason I decided to have my own license so that I could gain access anytime to any home (esp. foreclosures) for my RE business. Also, I could factor-in my 3% commission in my offer, make a better offer than others and still come out ahead. Besides that, having a license also helped us pick up a better lot from builder during "pre-sales". I also earned 3% commission for my own home. But overall, I do not like pricing structure in RE business. (Why do they charge 6%, why not charge a flat fee just ...
by umk
Fri Apr 28, 2017 10:57 pm
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 206
Views: 153429

Re: Banned from Home Depot Returns

In Italy, it is pretty common that you can only exchange for another item.
Ditto in India. In fact, many times, exchanges are done only in the afternoon when there are fewer customers.
Also, there is no concept of guarantee or warranty. I once asked a shopkeeper what is the guarantee for this item? He said "It has table guarantee". I didn't understand so asked him what he means by that. He replied "It is guaranteed as long as it's on my table." :oops:
Sorry for digression.
by umk
Thu Apr 27, 2017 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Online real estate class-NYS
Replies: 6
Views: 930

Re: Online real estate class-NYS

Yes, I have taken online classes and currently hold active real estate agent license. I do real estate part-time, just for my friends or myself (I don't advertise at all). Just make sure that the class is approved by your state's Real Estate Commission. Then go for the cheapest class.
by umk
Sun Mar 05, 2017 8:44 pm
Forum: Personal Investments
Topic: DRIP ETFs/ Stocks ?
Replies: 2
Views: 567

Re: DRIP ETFs/ Stocks ?

Yes, I started investing in DRIP's in 1998. I was making only ~40,000/year and couldn't afford Vanguard's steep $3000 investment. There were no ETF's that time. This was the time when Bogleheads was on Morningstar forum where I learned about DRIP and Jonathan Clements. Makes me nostalgic. :) I also got information about DRIP from Charles Carson's book "Buying stocks without a broker". I started investing $25 per paycheck for my children's education. I started with GE, PG IBM, PFE, MRK and HD. As I started earning more, I increased the contribution to $100 per month. I still do contribute except that I sold HD long time ago and added KMB. The investment is on auto pilot and I don't feel the pinch because I am now used to it now. I ...
by umk
Tue Sep 06, 2016 5:34 pm
Forum: Personal Consumer Issues
Topic: pro's and con's of closing/reopening amazon.com account?
Replies: 31
Views: 7447

Re: pro's and con's of closing/reopening amazon.com account?

I did exactly what you are planning to do. Just try to delete your amazon account and you will see how hard they try to stop you from doing that and make it difficult to delete the account. They want to know more about you and keep you glued to them as much as they can. Of course, that actually encouraged me to delete the account and recreate a new one. The only thing I miss is the order history, but it was a pleasure to start with a clean slate. Far less annoying ads for "based on your history, you may wanna try this product". I plan to delete my account and recreate new one every year. :D
by umk
Sat Sep 03, 2016 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: How to decide among refi providers and offers?
Replies: 12
Views: 1482

Re: How to decide among refi providers and offers?

I was tempted to refi my loan when I saw an email from Costco a couple of weeks ago. They had quoted 3.375% rate for 30 year fixed mortgage. I asked for quote from 3 of their preferred vendors. 1 quoted 3.375%, the other 3.49% and the third did not contact me when I told her that "I am getting 3.25% with $100 lender credit. Contact me only if you can beat that rate, not if you meet it." Sure enough, she never called me back. I had already contacted prefered lender from http://www.mtgprofessor.com website. I will highly recommend this website for a lot of good information and upfront advise. Long story short, I am working now with same lender for refi, who initially did my loan when we purchased the house and found via mortgage pro...
by umk
Fri Aug 19, 2016 3:08 pm
Forum: Personal Consumer Issues
Topic: Cell phone data plans
Replies: 62
Views: 12157

Re: Cell phone data plans

We use T-mobile for 4 lines $100 per month, unlimited talk-and-text 2.5GB data per line. I use WiFi at home and at work, so data usage is hardly 1GB. My new world is I've got several numbers for different purposes and no one number is critical. It's terrific and horrible all the same. Juggling multiple numbers is like juggling email accounts and can be complex, but I'm glad I'm able to get rid of an email account that recently received over 1000 spam and 1 actual message. Same can be said of phone numbers, and old numbers eventually go straight to voicemail for those last stragglers that I care to hear from. I agree with above post. I mostly use Google Voice and give that number to others. All calls to that number then get forwarded to real...
by umk
Fri Aug 19, 2016 2:25 pm
Forum: Personal Investments
Topic: To sell rental property or not to sell
Replies: 2
Views: 531

Re: To sell rental property or not to sell

I am new member here and this is my first post, so please excuse me if I am not compliant with the site rules.

If I were in your place, I would not sell the property. The points in your favor are: the property is cash-flow positive, in good neighborhood, good school district and the rent is reasonable. (Thumb rule is that your property should give monthly rent 1% of the property value.) You will get benefited by depreciation you can claim and also the appreciation in property value. (I myself own several rental properties.)

The only thing I would do is to refinance it because 4.75% is way too high. Go ahead and lease it. In fact, I would say you can buy more if you can find good deals and afford it. Good luck.