Search found 282 matches

by Broadway2018
Mon Jan 01, 2018 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Refi After 1 Year?
Replies: 42
Views: 3570

Re: Refi After 1 Year?

To get the best, most specific advice for your particular situation more information would be needed (income, investments, cash flow, job security, years left working, etc.). But generally speaking, if you can swing the 20 year mortgage over the 30 year while still accomplishing all your investment...
by Broadway2018
Mon Jan 01, 2018 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Refi After 1 Year?
Replies: 42
Views: 3570

Re: Refi After 1 Year?

No I would not refi to a higher interest loan. Are you sure the escrow shortage is one year only, or will the new amount continue ? It often changes if property tax or insurance go up, which is ongoing. Tax increasing is what is causing the escrow shortage as far as I can tell from your post. What ...
by Broadway2018
Mon Jan 01, 2018 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Refi After 1 Year?
Replies: 42
Views: 3570

Re: Refi After 1 Year?

So, if I understand your situation correctly, you're "curing" the escrow shortage by paying $1900 net and tacking an additional year or two onto the loan. To me that is not sound financial practice, if you'll forgive me for being so direct. Without knowing more about your job situation and full inc...
by Broadway2018
Mon Jan 01, 2018 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Refi After 1 Year?
Replies: 42
Views: 3570

Re: Refi After 1 Year?

Yes I am thinking about just paying the escrow shortage. This just comes at bad timing as we had some credit card debt at 0% we wanted to pay off. We could pay that later as we have 12 months at 0% interest Also, I inquired back to the mortgage lender about a 15 year mortgage. If the rate was 3.25% ...
by Broadway2018
Mon Jan 01, 2018 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Refi After 1 Year?
Replies: 42
Views: 3570

Re: Refi After 1 Year?

How long have you been in the current loan? I'm guessing the 3.75% 20 year loan is ~$2/month cheaper principal & interest than the 3.5% 20 year loan, since the principal is a little lower with the new loan. Also, you would be starting a new 20 year term, so if you are already 1-2 years in the exist...
by Broadway2018
Mon Jan 01, 2018 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Refi After 1 Year?
Replies: 42
Views: 3570

Re: Refi After 1 Year?

This is a local mortgage broker who is doing lender paid PMI, which is reflected in the 3.75% rate. I called and Chase and is very wishy washy on what needs to be done. Either option requires us to be out the appraisal so that is why we were looking to refinance. I don't think we are quite at 20% y...
by Broadway2018
Mon Jan 01, 2018 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Refi After 1 Year?
Replies: 42
Views: 3570

Re: Refi After 1 Year?

How is the PMI being eliminated? Did they reappraise the home to get you over the 20% threshold? If so have you tried to get the PMI cancelled on the current loan? This is a local mortgage broker who is doing lender paid PMI, which is reflected in the 3.75% rate. I called and Chase and is very wish...
by Broadway2018
Mon Jan 01, 2018 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Refi After 1 Year?
Replies: 42
Views: 3570

Re: Refi After 1 Year?

Right now we have about 4 years until we get rid of PMI. Both option 1 & 2 get rid of PMI now, which is $193 a month. Just edited the post as I realized I left PMI out of the current situation section. This is a local mortgage broker who is doing lender paid PMI, which is reflected in the 3.75% rate.
by Broadway2018
Mon Jan 01, 2018 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Refi After 1 Year?
Replies: 42
Views: 3570

Refi After 1 Year?

Should I refinance? All options are refinancing $340,000. Details below on my current situation which is what I pay now. In February my taxes are increasing and I have an escrow shortage. Current Situation: 20 Year Fixed Rate Interest rate: 3.50% Monthly payment: $2,405 (broken down as $2,041.54 pri...
by Broadway2018
Sat Dec 30, 2017 10:02 pm
Forum: Personal Consumer Issues
Topic: Refinance?
Replies: 2
Views: 442

Re: Refinance?

Well, they're both higher rates. It's tough to make a case for refinancing to a higher interest rate. What's your reason for wanting this? Is the monthly payment now too much? Especially going to a 30 year... that will save you money monthly, but will cost quite a bit more in total interest paid. A...
by Broadway2018
Sat Dec 30, 2017 12:36 pm
Forum: Personal Consumer Issues
Topic: Refinance?
Replies: 2
Views: 442

Refinance?

Should I refinance? All options are refinancing $340,000. Details below: Current Situation: 20 Year Fixed Rate Interest rate: 3.50% Monthly payment: $2,869.39 (broken down as $2,041.54 principal and interest + $320.43 property taxes + $51.17 hazard insurance+$252.45 shortage in escrow account) I thi...
by Broadway2018
Fri Aug 04, 2017 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Beach condo investing
Replies: 32
Views: 5535

Re: Beach condo investing

I built a home near Orlando, FL in 2013 and paid $195,000. I just closed on my home last month and after all fees walked away with $61,000. Easiest chunk of money I ever made. It was rented the whole time and I broke even. I had a great management company do everything else. My point is not all real...
by Broadway2018
Sat Jul 15, 2017 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

...Yes, I am thinking if 1-2 years we will just refinance to a 15 year mortgage to cut the interest rate and pmi. We are currently 3.5% at a 20 year, however, if we go to 3% at 15 minus pmi our payment is about the same and shaves off a couple years. Nothing prevents you from paying more voluntaril...
by Broadway2018
Sat Jul 15, 2017 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

... The credit card isn't super priority either since it's zero percent and if you don't have the money to pay it all off by next year, you can always open a new card and transfer the balance until you do. There are many zero percent transfer offers these days.. There may be zero rate transfers but...
by Broadway2018
Fri Jul 14, 2017 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

Just fyi on thr pmi. The bank should (must?) Remove pmi when you pay down to 78% of ORIGINAL LTV and have been paying for 24 mos on time. You shouldn't need an appraisal at that point. If at 80% the might remove it but might require apprisal, a little bit up to them. And can depend on what int rate...
by Broadway2018
Fri Jul 14, 2017 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

Just now, I paid off $45k in student loans. $8k of cc debt, transferred $7k into savings for taxes and emergency fund! I will admit it was hard to hand over $45k for student loans but so glad it is done. One step closer to debt free!
by Broadway2018
Tue Jul 11, 2017 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

Thanks for the reply! I will check out the wiki again and re-read. Yes, I do like new cars and never keep them more than 5 years. So I think leasing is for me. So far, in the cars I have bought, I have always been $1-2k upside down so figured I would try leasing for 3 years. If I decide to buy a use...
by Broadway2018
Tue Jul 11, 2017 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

I agree, get rid of the non-tax deductible debt first. The mortgage can wait (it is tax deductible and the interest rate is not bad at all). It's not bad debt to have right now. I'd get rid of the student loans first. Then the car loans. The credit card isn't super priority either since it's zero p...
by Broadway2018
Tue Jul 11, 2017 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

Based on your recent numbers I would use the $58k to payoff the student loans and the credit card (2 and 3 of your list). Hold on to the remainder of the cash. I would not reduce the retirement contributions but if you still have that 0% cc with 20k be sure to pay that off before the promo runs out...
by Broadway2018
Tue Jul 11, 2017 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

squirm wrote:Student loan cannot be discharged, pay that off first.
That was my thought and I want to pay off debts so if anything else happens later, my monthly required payments are lower.
by Broadway2018
Tue Jul 11, 2017 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

Posting an update....So I get $58,635 this Friday the 14th from my house closing!! Wooohoooo!!! I am already maxing out my 401k without using this money. So my thought is to: 1) Figure out more about opening a Roth IRA or backdoor IRA (I gross $125k annually so not sure how this would work) 2) Pay ...
by Broadway2018
Tue Jul 11, 2017 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

Posting an update....So I get $58,635 this Friday the 14th from my house closing!! Wooohoooo!!! I am already maxing out my 401k without using this money. So my thought is to: 1) Figure out more about opening a Roth IRA or backdoor IRA (I gross $125k annually so not sure how this would work) 2) Pay o...
by Broadway2018
Mon Jul 03, 2017 6:58 pm
Forum: Personal Consumer Issues
Topic: Buy New Car?
Replies: 7
Views: 1034

Re: Buy New Car?

I would start savings towards a car fund now. 2 years from now you will want the latest and greatest tech/safety so I think it might be best to wait. We survived with my wife driving a corolla when my son was born up until age 4 when we got her a RAV4. Long trips we hopped in the Pilot. So you have...
by Broadway2018
Mon Jul 03, 2017 6:38 pm
Forum: Personal Consumer Issues
Topic: Buy New Car?
Replies: 7
Views: 1034

Re: Buy New Car?

This is for my fiance. She tends to keep cars a long time but bought a 2015 Mazda 3 base model just as we met 3 years ago. While it is fine for her, we will have kids in the next 2 years so we will probably upgrade to a full size sedan or small suv and also one with more safety features such as cras...
by Broadway2018
Mon Jul 03, 2017 3:06 pm
Forum: Personal Consumer Issues
Topic: Buy New Car?
Replies: 7
Views: 1034

Buy New Car?

If you had a car you still owed money on, however, knew you would not keep it in the long run, would you trade it in for one you would keep? Or keep paying it down. Right now, owe what is worth, however, I calculated if we kept paying for 2 years we would have about $3k equity.
by Broadway2018
Sun Jul 02, 2017 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Lease New Car?
Replies: 38
Views: 6026

Re: Lease New Car?

So I finally traded in my 2015 Subaru Outback and guess what? I leased a 2017 Subaru Outback Limited w/ Eyesight and Nav for $360 a month for 12k miles/ 36 months and $360 due at signing. Some will say this is stupid, but now I can just turn the car back in three years from now and enjoy a lower pa...
by Broadway2018
Sat Jul 01, 2017 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Lease New Car?
Replies: 38
Views: 6026

Re: Lease New Car?

So I finally traded in my 2015 Subaru Outback and guess what? I leased a 2017 Subaru Outback Limited w/ Eyesight and Nav for $360 a month for 12k miles/ 36 months and $360 due at signing. Some will say this is stupid, but now I can just turn the car back in three years from now and enjoy a lower pay...
by Broadway2018
Wed Jun 28, 2017 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Lease New Car?
Replies: 38
Views: 6026

Re: Lease New Car?

I just did the math on my Subaru. When I bought it I could have leased for $300. Making it cheaper unless I kept it for over 6 years. Now I owe $26k and probably upside down 1-2k. So if I turn in now, leasing would be cheaper, at the 3 year mark.
by Broadway2018
Wed Jun 28, 2017 6:45 am
Forum: Personal Finance (Not Investing)
Topic: Lease New Car?
Replies: 38
Views: 6026

Lease New Car?

Decided to start a new thread of leasing.... So I have never leased prior and am now considering a lease. I have a 2015 Subaru Outback Limited w/ 29k miles and it cost $36k. I owe $26k and my payment to pay off in 3 years would be about $750. My math is as follows. 1) Lease a car for $300 a month w/...
by Broadway2018
Wed Jun 28, 2017 6:20 am
Forum: Personal Finance (Not Investing)
Topic: Any situations car leasing makes sense?
Replies: 67
Views: 17475

Re: Any situations car leasing makes sense?

So I have never leased prior and am now considering a lease. I have a 2015 Subaru Outback Limited w/ 29k miles and it cost $36k. I owe $26k and my payment to pay off in 3 years would be about $750. My math is as follows. 1) Lease a car for $300 a month w/ all modern safety and tech. Pay $10,800 over...
by Broadway2018
Sun Jun 25, 2017 11:00 am
Forum: Personal Consumer Issues
Topic: Pre-owned X5 xDrive35d or ML 250 Bluetec
Replies: 4
Views: 1079

Re: Pre-owned X5 xDrive35d or ML 250 Bluetec

Following since I am considering leasing or buying used.
by Broadway2018
Sat Jun 24, 2017 10:17 pm
Forum: Personal Consumer Issues
Topic: Lease New Car?
Replies: 4
Views: 888

Re: Lease New Car?

I really just started looking into it and should know more Monday when the dealership opens again. I would be getting rid of my 2015 Subaru Outback Limited w/ 28k miles. I bought it new and pay $550 a month for it, however, still owe $26k. I was looking at used cars and not sure I want to buy a car...
by Broadway2018
Sat Jun 24, 2017 10:01 pm
Forum: Personal Consumer Issues
Topic: Lease New Car?
Replies: 4
Views: 888

Re: Lease New Car?

I really just started looking into it and should know more Monday when the dealership opens again. I would be getting rid of my 2015 Subaru Outback Limited w/ 28k miles. I bought it new and pay $550 a month for it, however, still owe $26k. I was looking at used cars and not sure I want to buy a car ...
by Broadway2018
Sat Jun 24, 2017 9:35 pm
Forum: Personal Consumer Issues
Topic: Lease New Car?
Replies: 4
Views: 888

Lease New Car?

Does leasing a new car ever make sense?

I am considering it because at my company there is a corporate lease program w/ BMW. I can get a BMW X1 for $265 w/ $0 down. This seems like a good deal and I do not drive often so the miles is not a problem.

Thoughts?
by Broadway2018
Wed Jun 14, 2017 11:42 am
Forum: Personal Consumer Issues
Topic: Deck replacement- Composite material recommendations
Replies: 22
Views: 5268

Re: Deck replacement- Composite material recommendations

I recently had a 150 sq ft deck built w/ fiberon material and vinyl rails. It is very low maintenance and looks great. No refinishing and painting ever needed. We paid $9500, however, when comparing to wood it was only slightly cheaper (like $7k). I would not go with Trex. Either fiberon or timbertech
by Broadway2018
Thu Jun 01, 2017 10:24 pm
Forum: Personal Consumer Issues
Topic: Subaru to Prius?
Replies: 44
Views: 4900

Re: Subaru to Prius?

I am in the Baltimore area. Anyone looking for a new Subaru? Lol Also what ultimately made my decision is the safety of the outback. Even without eyesight, it is a very safe vehicle to drive and better suited to handle an accident if one would occur. I don't have kids, but if I did, I would want th...
by Broadway2018
Thu Jun 01, 2017 7:17 pm
Forum: Personal Consumer Issues
Topic: Renting correct size car
Replies: 33
Views: 4375

Re: Renting correct size car

We'll be going on vacation at the end of this month and will need to rent a car. Two adults, 3 children with two of the children in booster seats with the back ( this one ). The oldest child can sit in the middle back seat with just a seatbelt. Rental is for a week and we will be driving approx 150...
by Broadway2018
Thu Jun 01, 2017 6:20 pm
Forum: Personal Consumer Issues
Topic: Subaru to Prius?
Replies: 44
Views: 4900

Re: Subaru to Prius?

So I have a 2015 Subaru Outback Limited w/ eyesight, nav, everything and was contemplating selling. The lowest amount on Autotrader for a car like mine was $28,000. I went to every dealer I could think of and they all low balled me to $23,000. Even most dealers would not honor the Subaru Guaranteed...
by Broadway2018
Thu Jun 01, 2017 9:22 am
Forum: Personal Consumer Issues
Topic: Dyson Cordless Vacuums??
Replies: 11
Views: 1978

Re: Dyson Cordless Vacuums??

I actually got a Dyson Total Clean and paid $300 w/ four tools through the website. Also, it is better than the animal version and my fiance loves it! If you go to their website and open a chat with them you can get more money off. In the chat, just say you are a prior owner and they will give you s...
by Broadway2018
Wed May 31, 2017 6:28 pm
Forum: Personal Consumer Issues
Topic: Subaru to Prius?
Replies: 44
Views: 4900

Re: Subaru to Prius?

Stick with the Subaru. You will not get the $25k you hope, the Prius will be slightly more than you hoped and you will not know the history. You will pay taxes on the Prius. The difference in gas mileage will not be worth it. The difference in registration is not significant. Then add the hassle fa...
by Broadway2018
Wed May 31, 2017 6:28 pm
Forum: Personal Consumer Issues
Topic: Subaru to Prius?
Replies: 44
Views: 4900

Re: Subaru to Prius?

double post by mistake
by Broadway2018
Wed May 31, 2017 6:27 pm
Forum: Personal Consumer Issues
Topic: Subaru to Prius?
Replies: 44
Views: 4900

Re: Subaru to Prius?

double post by mistake
by Broadway2018
Wed May 31, 2017 6:26 pm
Forum: Personal Consumer Issues
Topic: Subaru to Prius?
Replies: 44
Views: 4900

Re: Subaru to Prius?

double post by mistake
by Broadway2018
Wed May 31, 2017 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

Eliminating PMI would be my first choice with the 60k, unless you are planning on staying in this home for only the next 5-7 years she should at least be contributing up to the employer match. How does someone contribute 18k that has already been taxed to a 401k ?? So this is not our forever home. ...
by Broadway2018
Wed May 31, 2017 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Re: Which debt to pay off first?

I accidentally posted twice and cannot delete
by Broadway2018
Wed May 31, 2017 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 37
Views: 3940

Which debt to pay off first?

I am posting this again since I am now including my fiance's debt. So here's the situation. I am selling a property and will walk away with roughly $60k at closing. I have the following debt/situations: 1) Current house (bought Jan 2017) - only put 3% down on a $362k house so I pay PMI. The PMI is $...
by Broadway2018
Mon May 29, 2017 8:37 pm
Forum: Personal Consumer Issues
Topic: Tell me about Alaska
Replies: 63
Views: 10499

Re: Tell me about Alaska

When traveling to and from Denali, take the train. http://www.alaskarailroad.com . The train runs from Seward to Anchorage to Denali to Fairbanks, and vice versa. I would just rent the car, it is far better to be able to get up and go when you want. The train would take a long time and in car you c...
by Broadway2018
Mon May 29, 2017 11:02 am
Forum: Personal Consumer Issues
Topic: Tell me about Alaska
Replies: 63
Views: 10499

Re: Tell me about Alaska

[...]I did the regular full size sedan and drove all over Alaska.[...] OP here - I'd love to know how far north, east and west you went on the rental car. And how long were you in Alaska? Which off the beaten path places did you like most (in the drives)? Summary of my trip Anchorage - flew into An...
by Broadway2018
Sun May 28, 2017 10:26 am
Forum: Personal Consumer Issues
Topic: Tell me about Alaska
Replies: 63
Views: 10499

Re: Tell me about Alaska

Book car through Costco. I did the regular full size sedan and drove all over Alaska. Also, I strongly recommend the Heli-hike in Denali w/ Jeff (link below). If going with older crowd, Jeff goes at their pace. Two older folks were with us and they enjoyed it as well. Also, I proposed to fiance duri...
by Broadway2018
Sun May 28, 2017 10:17 am
Forum: Personal Consumer Issues
Topic: Sell 2015 Subaru or Keep?
Replies: 71
Views: 8031

Re: Sell 2015 Subaru or Keep?

The OP makes $125k a year, is maxing retirement savings, and is obsessing about a Subaru Outback? Or more accurately, worried about a few thousand dollars and willing to trade down. Just keep the Outback and enjoy it. I agree. But if every two years he wants "new features" again this is going to ge...