Closing Day
It's finally here. I close on my new home tomorrow. Wish me luck. Hopefully, everything will go smoothly.
Thursday, March 23, 2006
Thursday Talkback
Sorry for the lack of posting but buying a new house and renting your old house is very stressful and time consuming. I figured I would throw out a quick Thursday Talkback question...
Do you pay extra towards your mortgage principal? If so, do you pay it monthly or in a lump sum?
Friday, March 17, 2006
I've Got a Renter
I am so glad it is finally over. I hated having unknown people calling me during the day. Finally, I was able to get a well qualified candidate and obtained the security deposit. I think this one is promising as she asked if I would consider selling the property.
Sunday, March 12, 2006
I may have a renter!
I had someone come by today to look at me property for rent. I've been getting a few calls from students at the local college but none have really impressed me. Today, I had a really nice gentleman come look at the house. 50 years old, ex military, 2 kids ages 15 and 7. He is getting a divorce and he and his ex-wife will be selling their home. He really liked the property and seems to be a good fit. He is supposed to be closing on the house next week so he will call me tomorrow to discuss everything further.
I am really excited and hope he moves in. He even asked if I minded if he put carpet in the basement at his cost. Do I mind? Heck no, right now its just a concrete floor. I had planned to put tile down there but if he puts in carpet, I can save $400-500 bucks.
Saturday, March 11, 2006
1 Year Comparison
I decided I really wanted to go back and see what changes I've made since I really started to track my finances in March 2005.
Assets
March 2005 - $234254.00
March 2006 - $240397.08 (as of 3/11/06)
Change - 2.62%
Liabilities
March 2005 - $227265.04
March 2006 - $210386.51 (as of 3/11/2006)
Change - 7.43%
I'm pretty happy to see the numbers going in the right direction (assets up and liab down) but feel I should at least have had a double digit change in liabilities.
It will be interesting to compare March 2005 with March 2007 and so forth.
Thursday, March 09, 2006
Sunday, March 05, 2006
80/20 Mortgage
Anyone that has an 80/20 or an 80/15/5 mortgage...is the second mortgage payment also due on the first or does the second mortgage have a different due date?
posted by Dick @ 12:22 AM
3 Comments:
depends on your second mortgage. mine is a balloon second mortgage, so though the nominal due dates for the two mortgages match, they expect me to pay off the second mortgage asap on the 15th year anniversary. anyway, it is a smaller fraction (20%) and i plan to pay it off well before that.
v i joe
This comment has been removed by a blog administrator.
I see a lot of information about mortgages and I understand that they become more and more important today. I can say that if you really do want to get into a home, don’t let bad credit stop you. There are lenders out there who can help you, it just takes some persistence. Apply with multiple lenders. Like I said, apply with mortgage services that specialize in bad credit mortgage loans and will submit your application to multiple lenders with only having one credit inquiry.
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