Search found 119 matches

by Investing Newbie
Mon Oct 07, 2019 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Return of excess mortgage payment
Replies: 4
Views: 515

Re: Return of excess mortgage payment

Good morning,

I called them up this am. The overage was in fact paid out with escrow refund.
by Investing Newbie
Sun Oct 06, 2019 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Return of excess mortgage payment
Replies: 4
Views: 515

Return of excess mortgage payment

Hi everyone, Recently refinanced my mortgage and have a question about the overpayment of the pre existing mortgage. The loan payoff letter from my old servicer was generated slightly before my final payment was made to them. Therefore I have overpaid by one payment toward the old loan. I just recei...
by Investing Newbie
Tue Aug 13, 2019 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: Cash out refinance vs HELOC
Replies: 12
Views: 1079

Re: Cash out refinance vs HELOC

Hi, I spoke with the legal team with the title company, apparently the lien is structured in such a way that placing it second in line is not possible. I looked into the HELOC, but that process isn't as straightforward as I'd hoped. Running out of time for the 3% rate to expire or else all of this i...
by Investing Newbie
Mon Aug 12, 2019 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Cash out refinance vs HELOC
Replies: 12
Views: 1079

Re: Cash out refinance vs HELOC

If the solar company will agree to a resubordination, that may be the best. This is a new term for me, so I had to look it up. Seems this applies if I already had a HELOC and am trying to refinance my mortgage, this will keep the HELOC second in line, is this correct? I don’t have HELOC currently, ...
by Investing Newbie
Mon Aug 12, 2019 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Cash out refinance vs HELOC
Replies: 12
Views: 1079

Re: Cash out refinance vs HELOC

Would probably pay the loan off in a year.

Mortgage amount is $396,000
by Investing Newbie
Mon Aug 12, 2019 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Cash out refinance vs HELOC
Replies: 12
Views: 1079

Re: Cash out refinance vs HELOC

what is the rate on that 15K? 3.75% What is your savings? Currently between 6months to 1 year in Ally savings as emergency fund. Don't really want to pay off the solar loan though because we'd prefer to keep the liquidity. When I spoke with the loan servicer they told me the loan would need to be p...
by Investing Newbie
Mon Aug 12, 2019 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Cash out refinance vs HELOC
Replies: 12
Views: 1079

Re: Cash out refinance vs HELOC

Thank you for much for the reply. I think option 2 is the way to go.

Any other replies?
by Investing Newbie
Sun Aug 11, 2019 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Cash out refinance vs HELOC
Replies: 12
Views: 1079

Cash out refinance vs HELOC

Hi everyone, I posted a thread a little over a month ago regarding refinancing my current 30 year 4.75% mortgage into a 15 year loan. We were just getting close to finalizing the deal when an issue came up and I'd appreciate some input. We have solar panels on our home. They're being financed, not a...
by Investing Newbie
Fri Jun 28, 2019 11:51 am
Forum: Investing - Theory, News & General
Topic: Settlement fund and minimizing tax lots
Replies: 4
Views: 326

Re: Settlement fund and minimizing tax lots

I was just playing around on vanguard and figured out a good way to do this. I love answering my own questions, ha. I can transfer money from bank account to settlement fund. These funds are instantly in the “available to trade” section. I just then make purchase and use settlement fund for the divi...
by Investing Newbie
Fri Jun 28, 2019 11:41 am
Forum: Investing - Theory, News & General
Topic: Settlement fund and minimizing tax lots
Replies: 4
Views: 326

Settlement fund and minimizing tax lots

Hi, The only time I have anything in my brokerage settlement fund is when quarterly dividends get placed there. I do not have automatic reinvest turned on so as to not interfere with TLH. I received a $46 dividend into my settlement fund. I don't want to just buy $46 of VTSAX and then make my additi...
by Investing Newbie
Wed Jun 19, 2019 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage refi and solo vs joint loan
Replies: 3
Views: 230

Re: Mortgage refi and solo vs joint loan

Should have. Student loan lender doesn’t even know what the dispute is regarding. It is being removed, but can take 45 days. Since rates are low now I would prefer to not risk waiting.
by Investing Newbie
Wed Jun 19, 2019 6:26 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage refi and solo vs joint loan
Replies: 3
Views: 230

Mortgage refi and solo vs joint loan

Hi, Posted a prior thread about mortgage refi, so this is followup. Both my wife and I are on the loan presently. There is a dispute in her credit score from 2006, which is prior to when our mortgage originated. Now all of a sudden this is an issue for the refinance. So, the bank suggested I apply f...
by Investing Newbie
Thu Jun 13, 2019 6:55 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance options
Replies: 20
Views: 2295

Re: Mortgage refinance options

I’ve thought about not paying closing costs and adding them to loan. My concern is that the interest rate becomes higher in this case and may be stuck paying a higher rate.

What’s the general consensus on paying costs up front be adding them to the loan?
by Investing Newbie
Wed Jun 12, 2019 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance options
Replies: 20
Views: 2295

Re: Mortgage refinance options

I was able to get the mortgage professor site to load. The 2.75% with 10K in closing costs comes out ahead by $7k when compared to 3.25% with 0.5 points. The math works out for me to choose the 2.75% loan, but I'm a bit put out by the comments regarding how those fees sound exorbitant. I assume it m...
by Investing Newbie
Tue Jun 11, 2019 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance options
Replies: 20
Views: 2295

Re: Mortgage refinance options

I contacted my current lender and they offer a 3.25% rate with 0.5 points. Closing costs of $4000, so 40% less than with the credit union. Over the entire life of the loan the 2.75% rate will obviously cost less, but the breakeven period between these two is probably too long. I tried to play around...
by Investing Newbie
Mon Jun 10, 2019 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance options
Replies: 20
Views: 2295

Re: Mortgage refinance options

Credit union origination charge: 2485 application fee: 100 committment fee: 1990 processing fee: 395 Required services they select: 1328.54 appraisal fee: 450 attorney fee: 750 credit report fee: 42.54 flood determination: 10 tax service fee: 76 Required services I select: 2088.97 title: endorsement...
by Investing Newbie
Mon Jun 10, 2019 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance options
Replies: 20
Views: 2295

Re: Mortgage refinance options

Do closing costs of approx $10,000 for $400,000 refinance seem within range? My research shows 1-2% fee, so this looks a bit high.

Thoughts? Could this low rate be misleading and then I would get hit with high closing costs?
by Investing Newbie
Mon Jun 10, 2019 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance options
Replies: 20
Views: 2295

Re: Mortgage refinance options

1) What are the rates for those other loans? How stable is your employment? How big of a payment is your mortgage relative to your income? 20 year rate with no closing costs is 3.875% 20 year with closing costs 3.375% 30 year with closing costs 3.5% Employment is very stable. Current mortgage with ...
by Investing Newbie
Mon Jun 10, 2019 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance options
Replies: 20
Views: 2295

Mortgage refinance options

Good morning everyone, I'm just shy of 5 years into a 30 year fixed rate mortgage with an interest rate of 4.75%. I've been paying $300 extra a month so as to pay the equivalent of 13 months of payments in a given 12 months period. This was the advice I was given at the time. I intended to do this u...
by Investing Newbie
Wed May 08, 2019 10:04 am
Forum: Investing - Theory, News & General
Topic: Knowing when to TLH
Replies: 12
Views: 1545

Re: Knowing when to TLH

This is great information. Thank you for the replies.

Maybe another reason to decide on ETFs vs mutual funds.
by Investing Newbie
Wed May 08, 2019 10:03 am
Forum: US Chapters
Topic: Any interest in forming Local Chapter on Long Island NY?
Replies: 39
Views: 8532

Re: Any interest in forming Local Chapter on Long Island NY?

Unfortunately not. Not that I know of anyway. I’m still interested.

Maybe we can revive this thread?
by Investing Newbie
Tue May 07, 2019 1:56 pm
Forum: Investing - Theory, News & General
Topic: Knowing when to TLH
Replies: 12
Views: 1545

Knowing when to TLH

Hi, I'm relatively new-ish to taxable investing since Nov 2018, so I'm sure this is probably an easy question. I invest in my taxable account solely in Total Stock Market Index Admiral (VTSAX) and as a result the prices update at the end of closing each day. I assume my short term and long term gain...
by Investing Newbie
Sat Feb 23, 2019 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Return of excess
Replies: 1
Views: 387

Return of excess

Hi all, My wife was just notified that she will be received a "return of excess" for her 401K contributions in 2018. She did not exceed the $18,500 limit, so this must be due to her employer not passing the discrimination testing. The document she received says this applies to tax year 2019. Am i co...
by Investing Newbie
Mon Feb 11, 2019 10:56 pm
Forum: Investing - Theory, News & General
Topic: Yet another qualified dividend question
Replies: 14
Views: 851

Re: Yet another qualified dividend question

They can’t. I just like to make sure I understand how the math works. Do you have any reason to think your 1099 DIV is incorrect? There has been some debate about whether or not the 1099 div accounts for ones personal holding period or not. I don’t believe that it does so I was just trying to work ...
by Investing Newbie
Mon Feb 11, 2019 10:46 pm
Forum: Investing - Theory, News & General
Topic: Yet another qualified dividend question
Replies: 14
Views: 851

Re: Yet another qualified dividend question

They can’t. I just like to make sure I understand how the math works.
by Investing Newbie
Mon Feb 11, 2019 10:03 pm
Forum: Investing - Theory, News & General
Topic: Yet another qualified dividend question
Replies: 14
Views: 851

Re: Yet another qualified dividend question

So I'd like to walk through the numbers to make sure I'm doing this correctly. Date purchased Number of shares 11/19/18 44.78 12/10/18 22.814 12/27/18 40.98 1/31/19 29.66 Ex dividend date 12/21/19 121 day window 10/22/18 - 2/19/19 Dividend .346 , 94.01% qualified (VTSAX) Only the shares purchased on...
by Investing Newbie
Sun Feb 10, 2019 9:11 pm
Forum: Investing - Theory, News & General
Topic: Yet another qualified dividend question
Replies: 14
Views: 851

Re: Yet another qualified dividend question

So the holding period isn’t unique to a particular distribution? If my 61 day period is met in order to be qualified for a March distribution then it’s automatically qualified for the other quarterly distributions as well? Based on my confusion from my initial post I thought each distribution has a ...
by Investing Newbie
Sun Feb 10, 2019 8:50 pm
Forum: Investing - Theory, News & General
Topic: Yet another qualified dividend question
Replies: 14
Views: 851

Yet another qualified dividend question

Hi everyone, The concept of a qualified dividend is now becoming clear to me when it comes to looking at each quarterly distribution in isolation. If held for 61 days of the 121 day holding period then it counts as qualified. The 1099-DIV form lists ordinary and qualified dividends for the entire ye...
by Investing Newbie
Wed Jan 02, 2019 2:53 pm
Forum: Personal Investments
Topic: Qualified Dividends
Replies: 20
Views: 2311

Re: Qualified Dividends

I will read that publication.

So it seems to make sense to wait until after the holding period is fulfilled before filing taxes for the year. Again, in my situation with a nominal amount of dividends it doesn’t matter. I’m more interested in the academics of the situation for future years.
by Investing Newbie
Wed Jan 02, 2019 2:42 pm
Forum: Personal Investments
Topic: Qualified Dividends
Replies: 20
Views: 2311

Re: Qualified Dividends

The confusion arises because the Record date for Vanguard mutual funds is the day before the ex-dividend date for Vanguard mutual funds. One can even say the Vanguard Mutual Fund ex-dividend TIME: is 4:01 pm Eastern on the record date as any shares bought with a buy order submitted after that time ...
by Investing Newbie
Wed Jan 02, 2019 11:39 am
Forum: Personal Investments
Topic: Qualified Dividends
Replies: 20
Views: 2311

Re: Qualified Dividends

Thank you for that link. I have VTSAX (Vanguard total stock market admiral) and there is no ex dividend date listed.
by Investing Newbie
Wed Jan 02, 2019 11:04 am
Forum: Personal Investments
Topic: Qualified Dividends
Replies: 20
Views: 2311

Qualified Dividends

Good morning, I'm new to a Vanguard taxable brokerage account and trying to do my best to learn the ins and outs. When I was reading up and learning about tax loss harvesting the issue of qualified dividends came up. I've read many threads and checked out the external links mentioned in the prior th...
by Investing Newbie
Thu Nov 22, 2018 3:35 pm
Forum: Investing - Theory, News & General
Topic: New to taxable investments
Replies: 21
Views: 2151

Re: New to taxable investments

Three reasons: 1. To avoid a wash sale. This is when selling funds at a loss and then buying funds that are considered “substantially identical.” Tax loss harvesting would then not be a possibility. 2. To minimize the number of tax lots. 3. To be able to direct new money where desired in order to ma...
by Investing Newbie
Thu Nov 22, 2018 8:53 am
Forum: Investing - Theory, News & General
Topic: New to taxable investments
Replies: 21
Views: 2151

New to taxable investments

Good morning, everyone, I'm brand new to the world of taxable investing. I've set my Vanguard account to not automatically reinvest dividends and also have specific ID set for my cost basis method. Tax loss harvesting is a beast I need to become more comfortable with. Right now I just want to ensure...
by Investing Newbie
Fri Aug 03, 2018 7:34 pm
Forum: Personal Investments
Topic: Am I making best use of my available pre tax plans?
Replies: 3
Views: 454

Re: Am I making best use of my available pre tax plans?

I don’t see RIA in the prospectus for my 403b. Perhaps this is paid on the employer side? Since the RIA amount is dependent on the plan balance doesn’t my 401k apply “extra fees” to the same dollar? Both the RIA and ER on the same dollar? Then again in my case where RIA plus ER 401k = ER 403b it doe...
by Investing Newbie
Fri Aug 03, 2018 7:51 am
Forum: Personal Investments
Topic: Am I making best use of my available pre tax plans?
Replies: 3
Views: 454

Am I making best use of my available pre tax plans?

Good morning, I recently realized that I was looking at my 401K safe harbor match policy incorrectly. I thought the match was similar to my 403b plan where I have an automatic match of 5% of total salary in a once a year lump sum as long as I contribute 2%. However, the 401 K match is 4% of salary i...
by Investing Newbie
Sat May 26, 2018 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Refinance mortgage or not
Replies: 2
Views: 574

Re: Refinance mortgage or not

Rates on 30 year look to be around 4.5 on the low end. I agree that refi to 30 makes little sense. 15 year would be my best option I think.
by Investing Newbie
Fri May 25, 2018 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance mortgage or not
Replies: 2
Views: 574

Refinance mortgage or not

Hi everyone, I have 26 years, 2 months remaining on a 30 year mortgage with lender paid mortgage insurance. Original mortgage of $455k with $410K remaining at 4.75%. LTV right now is 84.5%, but this is based off of original purchase price and given home additions is lower. My plan had been to pay ex...
by Investing Newbie
Wed Feb 28, 2018 8:19 pm
Forum: US Chapters
Topic: Any interest in forming Local Chapter on Long Island NY?
Replies: 39
Views: 8532

Re: Any interest in forming Local Chapter on Long Island NY?

I’m interested. In Suffolk but going to Nassau is easy enough to do
by Investing Newbie
Fri Jan 19, 2018 5:52 pm
Forum: Investing - Theory, News & General
Topic: Is placing the lowest ER fund in tax deferred always the way to go?
Replies: 4
Views: 568

Is placing the lowest ER fund in tax deferred always the way to go?

Hi all, When trying to minimize overall expenses I know that one should start with the lowest cost option in his or her 401K/403b and then keep your AA by adding to either IRAs or taxable accounts. I'm sure this is a common fund situation but my and my wife's tax deferred plans consist of a US based...
by Investing Newbie
Tue Jan 09, 2018 10:35 am
Forum: Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 2360

Re: Portfolio Simplification and Overview

This is likely to be long term employment. I plan on campaigning for at least one low cost option to be added.
by Investing Newbie
Mon Jan 08, 2018 3:50 pm
Forum: Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 2360

Re: Portfolio Simplification and Overview

My current 403b currently gets 100% of my contributions and if I contribute 2% of my salary I get 1% match of that, in addition to 5% of my gross pay, for a total of 6% The 401K is safe harbor, so 100% match if I put in 3% of my salary, and 1% for contributions between 3-5%. Essentially 5% of pay co...
by Investing Newbie
Mon Jan 08, 2018 11:52 am
Forum: Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 2360

Re: Portfolio Simplification and Overview

Thank you, Chip. I'd just like to clarify a couple points. When you suggest the Vanguard Target Date 2035 do you mean in both my current 403 and old 403b or just the current one. The ER when compared to the funds I'm contributing to in my current 403b are comparable when the administrative fee and c...
by Investing Newbie
Sun Jan 07, 2018 7:03 pm
Forum: Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 2360

Re: Portfolio Simplification and Overview

Assuming I get my financial house in order and pay down the loans like everyone has suggested how does my plan seem? My questions were related to minimizing fees and optimal fund placement, so hopefully someone can chime in there. How about what I suggested in question number two regarding keeping m...
by Investing Newbie
Sun Jan 07, 2018 10:14 am
Forum: Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 2360

Re: Portfolio Simplification and Overview

I didn’t necessarily say I’m looking to buy bonds. If I did that was unintentional. I’m talking about a taxable account in either vanguard total stock or international so adhere to the three fund portfolio.
by Investing Newbie
Sun Jan 07, 2018 9:43 am
Forum: Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 2360

Re: Portfolio Simplification and Overview

Mixing target date and index becomes complicated, no? I’ve read many post advising an either or approach, not a mix of the two types. As far as paying down debt vs investing I understand paying down high rate debt first before investing. So in my mind that is the 6.8% debt. The other rates are lower...
by Investing Newbie
Sun Jan 07, 2018 9:23 am
Forum: Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 2360

Re: Portfolio Simplification and Overview

I appreciate this honest answer. The 6.8% loan is only about 5,000 of the total loan balance, so not much. Assuming I forget about taxable for now until the 6.8% loan is paid off, what, if any, modifications should I be making in terms of fund placement to my current investments? stop backdoor Roth ...