Search found 16 matches

by MissMolly
Fri Aug 16, 2019 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: Question about income and Medicare Premiums
Replies: 19
Views: 1227

Re: Question about income and Medicare Premiums

Yes, filing your 2021 taxes in 2022 will show your reduced income which then gives them sufficient time to reduce your premiums for 2023. Medicare premiums are based on calendar years so you will only have to pay the increased premiums from August through December of 2022.
by MissMolly
Fri Aug 16, 2019 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Question about income and Medicare Premiums
Replies: 19
Views: 1227

Re: Question about income and Medicare Premiums

It's all automatic. They look at your tax returns each year. You don't have to take any action.
by MissMolly
Fri Aug 16, 2019 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Question about income and Medicare Premiums
Replies: 19
Views: 1227

Re: Question about income and Medicare Premiums

If you sell the condo in 2020 the IRMAA surcharge on your Medicare premiums will be in 2022. It takes 2 years for any increase/decrease in your income to impact your premiums. However, if you income then returns to ~$45,000 a year the following year, then yes, in 2023 your Medicare premiums will als...
by MissMolly
Sun Jul 07, 2019 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: SS Spousal Benefits
Replies: 12
Views: 2073

Re: SS Spousal Benefits

There is a significant difference between spousal benefits and survivor benefits. OP is asking about spousal benefits (spouse alive and collecting social security benefits). Survivor benefits are when the spouse is dead and was collecting or would have been eligible for social security benefits. Th...
by MissMolly
Sat Jul 06, 2019 7:24 am
Forum: Personal Finance (Not Investing)
Topic: SS Spousal Benefits
Replies: 12
Views: 2073

Re: SS Spousal Benefits

As long as you are full retirement age when you file for survivor, you will get the full benefit amount he was entitled to at the time of his death. You can file for survivor as early as 60, but there is a reduction for every month prior to your full retirement age. Once you are full retirement age,...
by MissMolly
Fri Jul 05, 2019 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: SS Spousal Benefits
Replies: 12
Views: 2073

Re: SS Spousal Benefits

Also, it won't be 50% of what her current benefit is, it will be 50% of her PIA since you are older than 66 - so more than you are thinking.
by MissMolly
Fri Dec 28, 2018 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: SS payment following death in first week of the month
Replies: 7
Views: 575

Re: SS payment following death in first week of the month

There won't be any monthly SS payments due since SS says you must be alive the entire month in order to earn a payment. They don't make partial month payments. There is a small death benefit of $255.
by MissMolly
Wed Oct 10, 2018 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: Hazard Insurance
Replies: 12
Views: 638

Re: Hazard Insurance

Hazard insurance is homeowners insurance. It's just the term used the in mortgage banking industry.
by MissMolly
Sun Dec 03, 2017 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Closing Question: Property Tax Pre-paids
Replies: 10
Views: 916

Re: Mortgage Closing Question: Property Tax Pre-paids

How do the lenders pay the interest... a monthly check or yearly... or, does it get added to the escrow account? It's been my experience that the interest is added to the escrow account. Some do it monthly, some do it annually. I have not seen a lender cut a check to the borrower for the interest, ...
by MissMolly
Sun Dec 03, 2017 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Closing Question: Property Tax Pre-paids
Replies: 10
Views: 916

Re: Mortgage Closing Question: Property Tax Pre-paids

The schedule for escrow analysis varies from lender to lender. Some may do all loans in December. Some may do all loans in July. Some may run analysis every month based on the loans' anniversary dates. There is no required month of the year that analysis must be performed. The only requirement is th...
by MissMolly
Thu Jul 02, 2015 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Accrued Interest When Selling Home
Replies: 3
Views: 960

Re: Accrued Interest When Selling Home

Interest accrues until funds are received by the lender. The payoff quote may have been requested only through 06/26. However, if funds weren't received by the lender until 07/01, additional interest would be due for those days past the date used in the payoff quote. It's not a matter of anybody doi...
by MissMolly
Mon Jun 22, 2015 9:41 am
Forum: Personal Finance (Not Investing)
Topic: PMI on FHA loan
Replies: 16
Views: 4079

Re: PMI on FHA loan

No, it's no longer true if the loan was made later than 01/01/2001. MIP on an FHA loan used to be for the life of the loan, but can now be cancelled depending on when the loan was made, the term of the loan, the value of the property, etc. See here on the FHA website for details http://portalapps.hu...
by MissMolly
Wed Oct 01, 2014 7:33 pm
Forum: Personal Consumer Issues
Topic: Play FreeCell on a tablet offline?
Replies: 12
Views: 2436

Re: Play FreeCell on a tablet offline?

Amazon has a 30 day money back guarantee on all their products. If you purchased a Kindle Fire, your mom would be able to test it for a month to see if it works for her. Just a thought...
by MissMolly
Tue Sep 30, 2014 10:56 pm
Forum: Personal Consumer Issues
Topic: Play FreeCell on a tablet offline?
Replies: 12
Views: 2436

Re: Play FreeCell on a tablet offline?

My mother was also a Free Cell addict. Whenever I took her to her many, many doctor appointments, she would get bored and start bugging other people in the waiting area (she had frontal lobe dementia and didn't understand "boundaries"). To distract her, I got a Kindle Fire and loaded it with Free Ce...
by MissMolly
Sat Jan 18, 2014 10:03 pm
Forum: Personal Investments
Topic: I could really use some advice
Replies: 6
Views: 1498

Re: I could really use some advice

Thanks for the responses thus far. I will study all these suggestions. I haven't had time today to look at all this as I have been trying to fly home from an on-site consulting job I have been on this past week. But now I'm stuck in Chicago. Flight was canceled due to the snow, so I'll read these ov...
by MissMolly
Sat Jan 18, 2014 12:17 am
Forum: Personal Investments
Topic: I could really use some advice
Replies: 6
Views: 1498

I could really use some advice

I have been a member of this site for several years but have only lurked. I read and read all the posts hoping something will make sense to me, but I am still on the fence about what to do and am looking for some advice from some of the wise minds on this forum. Both my husband and I are retired (we...