I would think tolls are not included since they are technically optional, but if you live in an area with tolls, I guess you can bake in the price. we have toll roads, but I rarely use them.
I live in MA and my excise tax is $49/yr. My car is worth about $10k and my commute is toll-free. Maybe SUV’s and luxury cars are taxed higher??
On my old car I budgeted $600-$1200 for repairs, though. My “new” car is a 2005 with 33k miles so it’s been good so far. (2005 4cyl Camry, inherited it with only 3400 miles, when my Dad passed in 2009. He bought it new. Thank you Dad! I never bought a new car, but he believed in buying a car new and taking care of it and driving it as long as possible).
I still have my credit card. I use it a couple times a year to keep it active. I really have it active to keep my credit score up. I know others would disagree with me but here in Washington (state) you get dinged hard on car insurance when you don’t have a good credit score. So anyway, it was time to use it and I made an online purchase of $21.11 3 days after it posted to my account I paid it off.
But to use it I had to dig it out of the safe in our closet. And now, I can’t find the damn thing to put it back! I know it’s in my house. And the scary thing is that my house is generally clean. I don’t have crap everywhere or messes here and there. I am pretty uptight about how my house it. I can’t relax if it’s dirty or messy. So it’s baffles me as to where I put the VISA.
Maybe it’s God’s (and MC’s) way of telling me to get rid of the card…..
I thought they were overpriced houses…poor workmanship, not quality materials. The only thing going for that area was that the school system was better in that county. I opted to home school my kids and not move. Glad I made that decision.
For that to happen all of them would have to be past whatever ‘tipping point. was in the contracts. Since it’s unlikely that the loans were originated at the same time, I suppose they’re all old loans?
Mine is a 5/1 loan, so I understand rates changing. Currently I’m at a 3% rate. But even if it starts to go up(even past what I could afford, which is what I was facing in late 2008), I don’t have much recourse. The property values have dropped so much in this area that I can’t refinance. The house isn’t even worth what I owe on it.
With a way better-funded legal team than what most homeowners are able to access. As I’ve thought more about this, I found myself wondering if this was what was called a 3/1, 5/1 or even 10/1 loan. Those first numbers represent the number of years the loan would stay fixed, but after that time it would adjust every year to the given market rate. Some loans were marketed very heavily with that up front fixed rate, but the loan docs would have clearly stated it was an adjustable rate loan. That’s not something the lender could fudge on – both state and federal law regulate what the lenders must disclose, and this fixed-to-adjustable aspect is one of them. The docs would have clearly stated that the loan would start to adjust on X date, and the amount by which the loan rate could go up or down. One or two percentage points was typical but there were loans out there which didn’t have floor/ceiling rates and/or adjustment limits. If the whole neighborhood’s rates shifted after being fixed for a long time, I’ll bet this is why. If the loan docs say the loan could adjust after that X amount of time, there’s very little the homeowner can do at that point – they signed it and it was their responsibility to understand it. The document where that is all laid out is a single page document in either 10pt or 12pt print, so it would be hard to miss. If, on the other hand, the loan docs “hid” that in some kind of fine print, or never disclosed it, then the lender broke the law. Period. At which point the homeowner would have options under the various predatory lending programs which came out a few years ago. There’s just no wiggle room on stuff like this. Where most homeowners fall down on stuff like this is that they don’t hire attorneys to go after the lenders, because they’re trying to make that huge house payment and they don’t have money left over for legal counsel. That’s the gamble the lenders take, and they often win that gamble.
lenders or loan servicers who purchase loans, must honor the terms of the original loan. I’ll be curious to learn more about this situation. I can understand a single clerical error which had a fixed-rate loan double the charged rate, and someone dragging their feet about fixing it. If it’s happened to the whole neighborhood, and they all got the same financing at about the same time, that makes me wonder if there was some hidden and/or undisclosed clause at closing which said the loans could or would adjust under certain circumstances. If that’s the case, it should have said so in the closing loan documents, which folks SHOULD have saved for their records, but which also SHOULD still be available for review from the lender itself. In that case, it was the lender’s job to point it out, but also the borrower’s job to know their own loan documents and ask if they didn’t understand that clause. If those terms were not disclosed, that lender is ripe for a class action lawsuit. Which of course the whole neighborhood would have to get together, with their various legal counsel, and file that as a collective effort. Which is very difficult to make happen, not for legal reasons but just in terms of sheer “talk to everyone and get ‘em on board”.
Sounds to me like someone with the lender looked way down the line, saw the likelihood of this oddball scenario playing out, gambled that no one would file against them, and right now they’re reaping the benefits of that bet. Decisions like that are not made at lower levels. If the above scenario is accurate, it would have been a top-level decision.
I would hope the friend in this situation is pursuing legal recourse? Easier said than done, I know, but this is NOT how loans are typically handled. The terms you sign are the terms for the life of the loan unless you refinance. A fixed rate is a fixed rate unless there was some kind of “out clause”, and it would have to be stated as such. Lenders can’t just go changing terms. If that were the case, we’d all have some sky-high APR right now.
She and her hubby moved so her kid could go to a really good school in a different county, this was back in ’05. The mortgage was with CW then rolled into BOA. they gave up the house in ’08 because when the transfer was done, their fixed rate 30y doubled. The bank still has not resolved this. They know there is a problem, know it is their fault, but keep dragging out the process. Guess I’ll hear next month if this is settled…don’t think it will be.
I have 2 deficiency balances from a truck and boat I turned over to voluntary repo because we couldnt afford it any longer after my husband went salary. Does anyone know how to make them do a settlement offer?
I have Fidelity Bank for the truck and owe $16,000 and Merrick for the boat and owe $9000.
I was hoping to pay maybe 40% on each…. Im current on the monthly payment plan but want to see about getting them paid off.
Anyone deal with this??
Got paid today and based on my budget calculations I should be able to make my regular payment + $250 extra principal snowball!
Plus I ‘ve been scheduled for some extra time this week that will give me a little extra for next payday that will give me a few more snowflakes to pitch at it. But wait there’s more…
I just checked the mail and was notified I won a $150 gift certificate in a sweepstakes I entered! I’m thinking I’ll use that for groceries that week and throw another $150 on my car snowball.
On an OT note our rabbi’s on vacation and tomorrow’s my turn to give the layperson sermon at services…wish me luck.
The feeling of paying it down is what it is all about! Now the balance will look low enough that you will want to start throwing more more money at it to get it paid off by the end of the year.
Set a big goal and find extra money to get it gone.
Right now I’m really gazelle intense ( selling off all our rendezvous stuff folks) so the temptation would be to go for it. However, having not so long ago finding ourselves so suddenly unemployed for 18 months and needing the accumulated vacation pay to get through our “unemployed time” I was very thankful we had the built up vacation time to help us along. I would be reluctant to give up that security blanket.
I also have to ask about the legality of you only getting 90% of your vacation time. What does fair wage and hour say about earned vacation time in your state?
As someone else has mentioned, what about burn-out? My mother was a nurse aide (I know you are a nurse) but the work for the two can be equally as draining. She really needed her vacation time for a change of pace.
So let me make an entirely different suggestion—I’m known for thinking outside the box around here.
How about taking some of that vacation time and doing an entirely different part time job for that time period? It would net you two incomes. The vacation time at 100% and say deliveries for the same time period as a fill in driver? OR take the time to go inch by inch through your home to find everything you could sell? If it’s not a violation of your contract, be a temp nurse for someone while their home nurse goes on vacation.
Even if the second temporary job would be delivering pizzas it would be a change of pace—something nurses need, and you would get 100% of your nursing pay, PLUS the income you would generate for that 2.5 weeks pay. Doing this idea could net you more for your debt than taking 90%.