Can you give me some financial advice on paying off our house?

1 Answer

Answer :

answer:Yes, he’s right. Any time you’re doing something ‘special’ (i.e. non-routine) think of all the ways they could screw it up, and plan for that. Meaning: write a separate check for the past due interest, and make sure that it goes in with the past-due coupons. And then check the next day to see that it has been properly applied to the account. Then, as an entirely separate transaction, do the $55K payment, and again, make sure that it’s on the “principal” line of the coupon. Better yet, if you can pay in person (as opposed to mailing the check to a PO Box) do that, so it has a better chance of being applied properly, and you have someone to talk to if it doesn’t. But one question. Given that mortgage rates are in the 2–3% range, and regular bank loans are in the 6–8% range (or higher), are you thinking of the last $20K as a mortgage or a straight bank loan or what? Don’t get a higher interest rate and squander your money,

Related questions

Description : Advice on paying debt collection?

Last Answer : answer:If it happened to me, no I would absolutely never pay a collection agency. If she wants to pay the actual phone company, she should call and discuss it with the billing department. Even then ... many local elected officials as I could to get some assistance in getting them to leave me alone.

Description : Are we paying too much money for funerals for our deceased loved ones?

Last Answer : Nobody is being exploited here. We need people to take care of our deceased ones and other people are offering such services, not for free, of course. Unless you own a graveyard and are capable to ... one's funeral as extravagant as possible as a sign of respect and perhaps, to show their status.

Description : Is Germany still paying off money and debts from the first and second world wars?

Last Answer : Actually, Germany had to take responsibility for and pay the debts for World War I.

Description : If you are on a budget, and are having a hard time paying off debt. Is consolidating your debt with a loan a good option?

Last Answer : Not always. Sometimes it just aggravates the problem. See a debt counselor first.

Description : Need financial advice ASAP?

Last Answer : Can you pick up a job driving for Uber or delivering pizzas? Pizza tips can be good in the right neighborhood. And I think Uber pays daily. Maybe someone else can weigh in with more information.

Description : Any advice about financial planning?

Last Answer : answer:Invest as much as possible while you're young and take risks. There are 2 major factors for building wealth: starting early and taking on risk. If you can start early, the magic of compounding interest ... never got the raise (or that you got a smaller one than you did) and invest the rest.

Description : Financial advice for a college student?

Last Answer : Your financial aide office is the right place to start. They will be able to tell you if you qualify for any grants grants are much nicer than student loans because they are free and ... Research is your best friend. Sometimes student loans are just necessary but exhaust all other options first.

Description : Legal/financial advice: This is a scam right?

Last Answer : Scam… Can’t you make a cashiers check for however much you want? Why the hell did he make it for 16 grand? Just destroy the check like you said you would.

Description : I am going to try to get a house in a year or so, In military, need advice.

Last Answer : Wow. I would wait until you have about $10,000 in savings. Owning a house gets expensive. It isn't just the mortgage payments, it's the repairs you have to do. If you work hard at starting to ... will still be decent in two years, and by then you will have a few more certainties and some savings.

Description : Are there payment plans for paying traffic tickets?

Last Answer : answer:Hi, and welcome to ask-public. I don't know of any place that allows payment plans for traffic tickets, but I wouldn't rule it out, I suppose. If you can get the court to hear your plea ... -for, or to pay it on the spot otherwise. Better to owe your brother the money instead of the court.

Description : Why do banks care if you use debit or credit when paying with your bank card?

Last Answer : The law protects you if you use a credit card for purchases. You are not liable in case of fraud, etc. The bank must pay or go after the company, and you have limited liability. With a debit ... like gasoline or groceries. Instead, use your debit card to pay bills you are sure you owe, etc.

Description : Can people claim bankruptcy to get out of paying student loans back?

Last Answer : The short answer is maybe. It will depend on what kind of bankruptcy you claim. New bankruptcy laws make it harder to get rid of the principle loan but will forgive the interest, late payments, and so on. Chapter 7 or 13 or 11? It can get very confusing.

Description : What are the best paying programs for making money taking surveys online?

Last Answer : I use ZoomPanel myself. I've gotten several things, including a digital camera, by saving up their survey points. The husband recommends American Consumer Opinion, which pays him small checks now and then. None of ... of money (in my experience), but these are two of the nicest that I've heard of.

Description : What do you tell someone who is constantly depressed about paying the bills and not earning enough?

Last Answer : Get a new job.

Description : What advice would you give to a person paying off debt?

Last Answer : Pay off the debts with the highest interest rates first. If you can refinance higher interest rate debts to get lower interest rates, do so, and then make the same payments so you reduce the principle owed. If you get a bonus or large one time influx of cash, pay off debt.

Description : Buying our first house... what to expect?

Last Answer : answer:Sounds like the seller chips in on the closing costs. Normally, the buyer is responsible for closing costs, I think, unless there is some agreement and the seller helps out. Who owns the house? The ... of walking away. But you may be making a very generous offer, and they might snap it up.

Description : If you had just enough money in your savings account to pay off your house, would you?

Last Answer : It would depend on the interest rate, @chyna, and other things like they type of loan, how much equity I had in the house, amount of mortgage payment, value of the home…

Description : How can i avoid letting financial difficulties bring me down?

Last Answer : This may or may not help but my parents always told me to remember that “this too shall pass!” Try to focus on the fact that this will not last forever.

Description : Could you help me with investment advice?

Last Answer : most internet brokerages are going to require around $1,500 - $2,500 to open an account. Even with this amount, your best bet is to begin with mutual funds (especially with limited investing knowledge) ... see a company you would like to invest in, buy some shares and build your portfolio over time.

Description : Looking for a financial assistance solution for my pet injury site's viewers, besides pet insurance. What are some web affiliates for this?

Last Answer : Care Credit is the only one my area offers and it sucks. Either you have the money or you put your pet down, that’s your two options.

Description : Did you ever make a financial decision that was illogical that worked out ok?

Last Answer : I haven’t, but Rick does all the time.

Description : Are you going through a hard financial time right now?

Last Answer : Always. And I’ve worked so damn hard in my life.

Description : How large of a financial catastrophe would it take to leave you homeless, and how quick would homelessness occur?

Last Answer : It wouldn’t take much, sadly.

Description : How do financial planners earn their money?

Last Answer : answer:I found a site that answers your question better than I could. I actually read it too. Seems solid. http://moneyover55.about.com/od/findingqualifiedadvisors/a/finadvisorfees.htm

Description : How do you react to a sudden financial blow?

Last Answer : Very first words exclaimed: “Muthafuckin’, dick-sucking, whore!” I save this for such occasions. It’s special.

Description : What would you do in this financial bind?

Last Answer : answer:Keep paying your debts and rebuilding your credit scores. Put as much of that $6000 as you can into a CD. The more you have for a down payment up front, the easier it is to get a loan. You may be able to find a foreclosure for cheap, if you are willing to go to all the sherriff’s auctions.

Description : In your worst financial times what have you done to pay bills and make ends meet?

Last Answer : I've only been that desperate a few times in my life and that was when I was married. My ex wanted us to borrow money from a relative and I flatly refused. We (he) got us into that mess, we ... we did and along with his regular job, he mowed grass to help out. It all worked out within 3 months.

Description : Judging by recent financial trend, should I convert my holiday spending money now or later?

Last Answer : I may be off, but if they cap the well, I would think maybe stocks would rise. but exchange rate?? I’m not an expert at the quirky international rates and how it is affected by stocks? Is there are correlation?? Awesome question.

Description : What kind of professional would be best suited to provide guidance on a complicated real estate/financial problem?

Last Answer : A real estate broker, agent or attorney.

Description : What would be the best financial decision?

Last Answer : Use an IRA to invest in a mutual fund.

Description : Do you manage your own retirement investments or do you consult w/ a financial planner?

Last Answer : We do it all ourselves through Vanguard, we look for good mutual funds with long term gains. I used to have a planner, but then realized with a little bit of work on my part, I didn’t need one and in the end I’m saving money because I cut out the middle man.

Description : Financial idea: crazy enough to work? or just crazy?

Last Answer : yeah, I don’t deposit money into my ROTH IRA anymore, it was getting tanked with losses, so now I’ve just been putting my money into savings, and mutual funds that have a track record for slow and steady growth.

Description : How do you find a financial consultant, and how do you choose one?

Last Answer : The National Association of Personal Financial Advisers can help you locate the registered advisers in your area. As to vetting them, well, I guess you have to do the usual-asking around, checking references, ... home insurance (if ever). Jane Bryant Quinn's book is very helpful in all of this.

Description : What to do about this tough financial decision?

Last Answer : Well my first suggestion is to talk to a financial planner so that you can actually calculate out the costs of both options and get high quality advice. You should be able to estimate the summer gas costs for ... much less than a new car costs. Look around for used Civics, they're not at all rare.

Description : How wealthy must you be to hire a financial planner?

Last Answer : I started my account with only $100.00 a few years ago. My planner didn’t have any limits on how much I needed to open an account.

Description : Does the financial site Mint.com support Canadian financial intitusions?

Last Answer : answer:No. From the site: Aaron Patzer created Mint as the antidote to current online financial management solutions, which require accounting knowledge and hours of maintenance. Aaron is ... and a BS in computer science, computer engineering, and electrical engineering from Duke University.

Description : What do you think about paying Mexico to house our worst criminals?

Last Answer : answer:Terrible idea since the Mexican government's corruption makes ours look minor. Besides, where to criminals on the lam go to to elude police? Mexico. We get that service for free already. Besides ... because we can't be bothered to clean up our own mess. That would be terribly irresponsible.

Description : Could I get some advice regarding mailing a check to my bank?

Last Answer : answer:In the past I've written my own deposit slip when I didn't have one. (In fact, it's the old-fashioned way to do it. Banks at one time did not provide pre-printed deposit ... belt-and-suspenders thing, I'll repeat the account number under that endorsement, before I counter-sign the check.

Description : Can you offer advice on my situation with my younger brother?

Last Answer : He's old enough to make his own choices so it's not like you would be turning your back on him. He needs to want to leave her bullshit behind 100% on his own, otherwise he will just end up going back ... you can do is make sure he understands you will be there for him when he's ready to move on.

Description : What advice can you recommend a beginner to online poker?

Last Answer : My advice: Don’t play online poker. I never trusted the integrity of and it is easier to become addicted. Just play live 2/4 Limit games. Maybe play a tournament. You’re play is going to continue to be up and down until you’re a real professional.

Description : Can you help with advice for a friends debt?

Last Answer : You have not provided sufficient information for real advice. What are her living circumstances, employment and income details, commitments aside from credit cards etc. Does she have assets - equity in property etc., as ... a very long time, but it might give her a chance to get back on her feet.

Description : Any advice on setting up your first IRA account?

Last Answer : answer:I don't know a lot about IRAs, but I Will Teach You To Be Rich is a great resource for learning about finances and investments. Just go there and search for Roth IRA and you'll come up with ... 're a good place to check into. They've also got some good basic FAQ on IRAs on their website.

Description : Any advice when looking for student loans/funding?

Last Answer : Let me warn you now: Don’t be fooled by those fake FAFSA people who charge you to process an application. Applying for FAFSA is free. It is a government program. My dad got tricked into paying for it… I shoulda set it up for him

Description : I'm looking a house plans on line. What exactly are they wanting to sell me for "sets" at 5 for $685, up to CAD for $14500?

Last Answer : answer:Contact them directly and ask. http://www.architecturaldesigns.com/ContactUs.aspx Or: Architectural Designs :: 57 Danbury Road :: Wilton, CT 06897 USA & Canada 1–800-854–7852 or 1–877-229–2447 :: International 262–521-4596 Fax 1–203-761–8600 :: Email: [email protected]

Description : Can you help me with our bank mortgage?

Last Answer : answer:If you have an adjustable mortgage, YES. But you should not pay closing fee, title search . . . . again. A fixed mortgage, NO Where is the lawyer from your original closing, your lawyer not theirs ? ? ? Contact the state banking regulator

Description : What's the highest interest rates that the online financial institutions paying for 2 year CDs?

Last Answer : The higest rates can be between 1.5%-3% APR. The APR is different for each financial institution.

Description : Did Amazon rip me off?

Last Answer : Ask for the money to be refunded to the credit card you used.

Description : Would it make sense for me to pay off a loan with another?

Last Answer : You should pay off the loan with the higher interest rate first.

Description : You find yourself totally out of debt, no rent, no house payment, no car payment, no loans what so ever, what would it take for you to go back into debt?

Last Answer : If my children really needed help.

Description : If a person has huge debt, no children, no house, and almost no assets, who pays their debt when they die?

Last Answer : well, what I do know is that no one acquires the debt unless they cosigned the loan or something. I also hear that who ever acquires the estate acquires the debt. Not too sure what happens after that.