Skip to main content

Tagged With "down payment"

Reply

Re: What are some really effective ways to boost a credit score?

Deven ·
If you can afford to, all at once ! It stops the bleeding immediately. By bleeding, I mean all the interest that's tacked on each month. If you can't do it all at once, definitely cut off the highest interest one first, by paying the minimum payment required on the lower interest rates and throwing the excess on the highest interest one. Once you've reached zero balance on a card, just leave it at $0. You don't need to use it and you definitely shouldn't close it because closing that account...
Reply

Re: What are some really effective ways to boost a credit score?

AverageJoe ·
All at once is the best way to go! We did it, and we've never regretted it for a minute. We'd rather have that money going into the bank every month than into interest to another bank for what we borrowed. After the crash, the banks raised everyone's interest rates with promises to lower the rates. This wasn't the case. By taking away that interest payment on what you had borrowed, you're not only showing that you can get out of debt, you're showing your disapproval with the way they lied...
Reply

Re: Hello new members!

SDT ·
Hi, I’ve followed Penny Horder for quite a while and have learned new way to save and be smart about money. We are a year away from retiring and 2 yrs ago downsized to a condo, sold a lot of “stuff” our adult kids didn’t want , it has been a good move. We have a small mortgage and car payment and aside from regular living expenses are ok. Still not working full time and managing retirement is daunting to think about so being here is a great place to learn . I also have told my adult 3 kids...
Reply

Re: Down Payment on a House

Theodora ·
20% is ideal because you avoid having to pay a low down payment penalty. That being said, a 10% or 15% downpayment can get you into the game and you can eliminate the penalty as you build equity in the home -- when you get to the 20% mark.
Reply

Re: Down Payment on a House

mintjulep ·
I've had a lot of experience in buying homes and your question, Moore Income, depends on so many other circumstances. It's ideal to put as much down as possible sometimes , ie if this might be your last home, or you get a better long term interest rate, or if that is the only way to qualify for a mortgage. However, if you tend to move a lot, or you are a young couple with limited cash reserves, or you do some juggling often with available investment funds, I always believe the least amount...
Reply

Re: Down Payment on a House

Duckie425 ·
I live in Pennsylvania. Every Winter I say to myself, "Why am I still here?" I hate being cold for sure. I've been looking at Arizona as a possible place to move in the future.
Reply

Re: Down Payment on a House

Former Member ·
If you are a first time homebuyer, you can get away with as little as 3% down payment if you have a good credit score. Your payments will be higher, but if you can afford it that might be something to consider! Higher down payment is always more desirable, though.
Reply

Re: Down Payment on a House

Moore Income ·
@mintjulep thanks for the helpful reply!
Reply

Re: Down Payment on a House

Moore Income ·
@Former Member What kind of a loan would you get those kind of down payments with if it is your first home?
Reply

Re: Down Payment on a House

Former Member ·
FHA loan I believe
Reply

Re: Debt Pay Down Tool - Now THIS is Cool!!!

Bonnie Squires ·
thank you this is my biggest thing now credit card debt and a light bill from our old place than my house payment
Reply

Re: Problems smell money

Former Member ·
You still have to pay yourself first, even when you're paying off debt! Building that foundation of an emergency fund, even if it's a wee thing, can help prevent you from going back to credit cards when an expense crops up. One thing that's helped for me is taking advantage of a payment plan for unforeseen expenses when I can. For instance, I had to get some medical tests done a few years ago and it added up to about $900. I asked them flat out if I could get on a monthly payment plan and it...
Reply

Re: Debt Pay Down Tool - Now THIS is Cool!!!

FreebiePharm ·
I LOVE Bankrate! It allows me to visualize my paydown plan and edit as I need!
Reply

Re: Car buying and owning.

Jules ·
I have never personally owned a car that was newer than 11 years old, and that has always been great for me. Here's some points to consider: The literal SECOND you drive your fancy new car off the lot, it dramatically depreciates in value. It will never again be worth what you paid for it. Consider financing: many car dealerships have fancy promos to talk you into buying a car, like no down payments, 0% interest for 12 months, on site financing and the like, but most of these tactics are...
Reply

Re: What life insurance would be good?

Deon Christie ·
We share a similar concern @Bonnie Squires , I'm also a late bloomer...lol! Bought my first house at age 46. And seeing that I traveled Africa through job opportunities as an Electrician. I never really gave Life Insurances and stability much thought. Therefore I ended up having to pay rather large premiums on relevant cover. Being a retired rolling stone and party animal and all that...lol! Especially with Life Cover, remember that our age plays an important role. And the bigger the...
Reply

Re: Budgeting Apps?

Nikki Charlene ·
I think there needs to be a app that includes all 3 credit scores updated whenever there is any type if a change what so ever and have the ability to dispute or fix it in the same app, Also a app that gives you the option to add all of your Bill's, Credit cards and will give you your payment dates and auto pay them for you Kind of like give them access as if they are a personal financial advisor and credit asst where they also do what is best to raise your scores etc... Shows you which cards...
Reply

Re: Budgeting Apps?

Nikki Charlene ·
I think there needs to be a app that includes all 3 credit scores updated whenever there is any type if a change what so ever and have the ability to dispute or fix it in the same app, Also a app that gives you the option to add all of your Bill's, Credit cards and will give you your payment dates and auto pay them for you Kind of like give them access as if they are a personal financial advisor and credit asst where they also do what is best to raise your scores etc... Shows you which cards...
Reply

Re: First time home buyer

Kirsten Cherry ·
I am closing on a home in Idaho on Tuesday so all of this is fresh in my mind! Some expenses could be: - Home Inspection: This cost us $250 - Closing Costs: We negotiated the sellers to pay this but they usually run 3-5% of the purchase price. If you look at the CD (Closing Discloser) it will break down all of the costs. From making copies of documents to paying title fees, lender fees, and appraisal, everything is charged. With the loan we used (conventional), we were able to have the...
Reply

Re: Down Payment on a House

Kirsten Cherry ·
It depends on the type of loan you will be using. Both FHA and Conventional (on good credit) will loan 97% of purchase price. Sometimes you can get a second loan to pay 2.5% of the purchase price which leaves you with .5% of purchase price to cough up for a down payment. Earnest money can go toward a down payment as well. If you pay anything less than 20% of the purchase price toward a down payment, you will have to pay a monthly mortgage insurance (MI). This can drop once you have 20%...
Reply

Re: Tax Settlement Firms - Legit?

Lisa Eichinger ·
I have heard some good and some bad things about them. Just like debt consolidation firms. I would personally just set up a payment plan through the IRS and pay that way, but that is just me and I don't know your entire situation.
Reply

Re: Medical Bill In Collections

Moore Income ·
@MsKimberly thanks for your concern. I did call the hospital and they say that it got sent to collection but I don't understand why as I was staying pretty up to date on my payments and very little time passed between when they said they sent it to collections and my last payment. It is just frustrating because to my knowledge I had paid all my bills and now they are saying I owe money from over a year ago!
Reply

Re: What's the best way to teach kids about money?

tg ·
When my son (now 32) was 2 he was constantly asking me to buy things at the checkout (candy and junk at kids eye level.) I solved it and helped him learn about money in one swoop. We gave him an allowance - $0.50 a week. To earn that he had to do one age appropriate chore (which he picked and agreed to do.) Other chores around the house were also done, "because he was part of the family." Each week he received his allowance and had 2 piggy banks, he had to deposit a quarter into each of...
Reply

Re: How to get a cheaper cell phone

KellyFromKeene ·
I have USCellular and I pay about 50$ month. no phone payment anymore. I need USCell as well because it seems that they have the best rural coverage and I live in NH. I had to go into the store and talk about plans to lower my bill, and it worked.
Reply

Re: Medical Bill In Collections

bonbon ·
I had a hospital insist that we owed a back bill. My records did not agree with theirs. I sent them a registered letter asking for detailed proof of the debt ie. date, event, procedures involved etc. I insisted on a written response. When I did not hear from them I went to our county Legal Aid and the attorney sent them a cease and desist letter. They responded saying the matter was closed. You just have to be as persistent as they are. If you owe the debt agree to monthly payments that are...
Reply

Re: Medical Bill In Collections

KerryE ·
I used to work for a medical billing company. Generally, hospitals will keep the debt for a year, and any amounts not paid off will be sent to collections- even if you've been making regular payments to the hospital. It's not fair, and it seems illegal, but it's not. They sell the debt to a collection agency and the hospital is done with it at that point. So you wouldn't have much luck trying to negotiate with the hospital over it. Now that it is with collections, we've all dealt with them...
Reply

Re: Medical Bill In Collections

Phoebe Moon ·
The hospital can and will accept $5 a month as a payment, but they DO NOT have to stop collections. That's a myth. They can and probably will turn any unpaid debt over to a collection agency, who works on commission. They will take every step they legally can to collect the debt. Maybe they will settle and maybe they won't, but don't count on your $5 a month meaning anything to them.
Reply

Re: What are some really effective ways to boost a credit score?

MarieS ·
I have learned that since there are so many ways to help increase your score, focusing on one area and taking baby steps has helped me! Right now, I a focusing on minimizing my utilization of credit. I try to pay more then the minimum payment and then not touch the cards! I have already seen significant increase in my score in a short period of time!
Reply

Re: Down Payment on a House

Roy ·
There are always two sides to a coin. FHA loans have served the first time Buyers well for years. these loans offer low down payment as the main lure, however they are not cheap and where they start at 97% loan, once one adds up the total costs of getting one it usually ends up as over 5% of the total price with only 3% going towards the actual equity. A Conventional loan appears at the outset to not be as appealing because it usually requires a minimum of 5% down plus costs. However I...
Reply

Re: Down Payment on a House

Moore Income ·
@Roy thanks for your helpful input! You are right about the downside of FHA, I went through the numbers with a banker and I was surprised by how much I would actually be paying for the home when it was paid off!
Reply

Re: Medical Bill In Collections

Moore Income ·
@Roy I requested and got the invoice back. I called the hospital and they said that they had already written it off and they can only accept payment for the bill. I will see if I can negotiate it with the collector. (It isn't that much money, thankfully, but it is kinda annoying to get billed 2 years later.) @Sadierose555 Thanks for your helpful input!
Reply

Re: What are some really effective ways to boost a credit score?

MsKimberly ·
Re: What are some really effective ways to boost a credit score?
Reply

Re: paying off debt in collections

Leslie Kay ·
if you make a payment on a collection account it starts the collection clock all over with. A paid collection item or an unpaid account both sit on your record as a collection account. You do not get a higher score by paying off an old collection account. They will still remain on your credit report for seven years as a collection account and drag down your score. Collection agencies will almost NEVER agree to remove the item from your credit even if you pay it off. Not in my experience...
Reply

Re: How to get a cheaper cell phone

Shirley T ·
I have been with US Cellular since 2000 with the exception of 2 years. About 5 years my husband put us on Sprint with a 2 year contract. We could not wait to get back to US Cellular. We even started marking off days on the calendar. With Sprint we had poor coverage and dropped calls in addition to higher cost. Will never leave US Cellular again. Our bill is $ 100 a month for both phones. I will cut expenses anywhere other than my phone bill.
Reply

Re: Anyone pursuing a F.I.R.E. strategy?

KellyFromKeene ·
@Moore Income , it did work out well. He was able to be there for his aging mom, and I just found out that he was able to save $100,000 for the down payment on his house! I knew he put a chunk of change down, but wow.
Reply

Re: Budgeting as a Couple

RayB ·
This worked for us at one time while my wife and I were working. We had different income levels and paying bills from the combined incomes was sort of a hassle. What we did was work out a budget for monthly expenses and then figured what percentage each of our incomes was of the total household income. We applied that percentage to the budget items, used an envelope system to set paycheck amounts aside and we both contributed to the bills according to our incomes. This eliminated the "who...
Reply

Re: What are some really effective ways to boost a credit score?

MarieS ·
I have never heard of that but I have always said how amazing it is that we are not able to include our household bills to establish payment history and credit worthiness! They definitely pull our credit to determine deposit information!!!! Definitely will check this out! Thanks for sharing!
Reply

Re: Side Hustles

Leslie Kay ·
I try different side hustles at all times I keep 3 or 4 going to allow me more money to pay down my credit card balances. They have gotten out of control and some of them even got closed on me. After having 5 years of perfect payment history those credit cards overwhelmed me. I do adult CNA work for a disabled family member. I do the errands and the shopping part. Transportation to Dr appts. I am on disability so I need to limit any money I make. I was doing secret shopping and could make up...
Reply

Re: Buying or leasing a car

Amber Hurd ·
Theordora, If I understand correctly, my residual value is only like 3-4 grand but I'm sure the worth is way more than that. At least 10-15 thousand. I haven't checked the KBB yet, but I will just so I have a more accurate value of my car. I love my car, don't get me wrong but I am seriously thinking of trading it in towards a newer model and buying outright is all. The payment amounts would definitely go up at least a 150 bucks though. I can afford it, but I am wanting to know which is...
Reply

Re: Can I buy a home with student loan debt?

PiNaY ·
If you find a house within your budget/price range and in an area that you love, then go for it. The farther you are away from D.C., the cheaper. But keep in mind the commute and traffic. If this is your first time buying a home, then you shouldn’t get hit with private mortgage insurance. Definitely save for a down payment. My first home was a studio condo in Alexandria, Va., and I loved it!
Reply

Re: Instacart

rtms77 ·
What is the payment like, do you have the commercial insurance and or charge GST/ state, provincial taxes?
Reply

Re: Secret Money Saving Hacks

Debbie Kolarik ·
I’ve been using the Ibotta app for 4 years and have earned almost $500 on items I normally buy. All you do is add offers to your account - once you’ve bought the items, you take a photo of your receipt and then scan the UPC code on the product. You can also make extra bonus $ by joining a team and working together towards bonuses. Payment is made via PayPal. It’s so easy and the money adds us fast!
Reply

Re: Applying more each month to payments

AverageJoe ·
It really works. I wasn't around the last four months to pay on the water bill. Was too busy going back and forth to GA because my sister was dying of breast cancer. I still have $15.00 credit, and I'll have more after this next payment is applied. I haven't paid a water bill since December, and they usually run $30-$45 per month. I kept paying on the electric, because I had 2 accounts, one for the electricity itself, and then one for the heating and air unit I got during a special through...
Reply

Re: Unsure How to Proceed

BeckAtsila ·
Completely understand--I took out a loan for surgery for a pet rat named Fiona. Would do it again even though Fiona has since crossed the Rainbow Bridge. Have you tried getting CareCredit? They have a very reasonable repayment plan and are specifically for vet, medical, and dental bills. You might also want to check out a credit counselor such as A Debt Coach--they've been very good to me in helping pay off credit card debt. They got my interest rate cut in half and helped me work out a...
Reply

Re: Can I buy a home with student loan debt?

James Hargrave ·
Hi Tiffany, Cons: Purchasing a residential house is not an investment. It requires a loan, tax, insurance, & maintenance (less than 20% down, you will pay additional for PMI). It ties you down in one spot making location changes more difficult. The general rule is you need 5 years of payments to break even in most markets. Keep in mind Real Estate agents are going to take around 6% to sell your property. Pros: Higher quality of living. Over the long term builds in equity that can...
Reply

Re: Erased

Valerie Magorrian ·
Here are a few legit companies that I have been shopping for years and they are 100 percent legit. A Closer Look- www.a-closer-look.com They do restaurants and a few other things like retail and some low end hotels, however they work on a scale so you will see lower end shops like diners until you do a few reports and they see you have good writing skills, then you get offered better shops. You are reimbursed for purchases but rarely paid anything on top of that but still, if its a nice...
Reply

Re: REBUILDING CREDIT AFTER BANKRUPTCY

yrenee ·
I just went through a foreclosure going on two yrs. I was diagnosed with fibromyalgia and couldn't make 1 payment. The bank immediately dismissed me and sent me to other organizations like save your home Calif...of course they denied me because I was still employed. I finally hired lawyers and was I'll advised to start a chapter 7 to give more time to the underwriters to do another review of my paperwork. I did not owe any debtors and the bankruptcy was dismissed 10 days later because it was...
Reply

Re: Effective Methods to Get The Best Credit Rating

Reverend Gale Daniel ·
These are some ways I boosted my credit cast after bankruptcy. I got a revolving credit card from Beall during a promotion for $150. I'm a coupon shopper and the deal was free ten dollars and thirty percent off first purchase. I acquired things on clearance I could resell. I paid the minimum as soon as I got the bill and paid the minimum on the assigned statement day. Paying a payment immediately was impressive. I had already sold my purchases for … more than. In a couple of months I now...
Reply

Re: TRIM Services

Former Member ·
Hi All, I have used Trim in the past for bills and it worked great. Are you sure about the $10 fee? I'm pretty sure if you use the Facebook connect and simply want to lower certain types of bills they just take a cut of your bill savings over the next n years. I have it hooked up to my account and am definitely not being charged $10 a month. So looks like depending on the bill it may be a monthly fee or it may just be a percentage of the savings. I would bet that some negotiations (internet...
Reply

Re: Hello new members!

Christine Chapin ·
Hi everyone My name is Chris and I am working to save money ....I use coupons and budget everything. We live in Massachusetts and need tips and tricks to save more .the biggest win this month Made our Last Car payment Aug 5 2019 !!!! Yayyy us
Reply

Re: Credit score stuck

PN ·
Me too, Kathryn on credit score. I have $550 in debt and one late payment from Chase (which really wasn’t). Suffice to say I cut them off but the ding is there. I don’t use much credit by choice so it’s not a high priority to me - but have been curious.
 
×
×
×
×