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Viewing profile - bunbury

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bunbury
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Joined: Fri Jun 03, 2011 8:26 am
Last visited: Fri Oct 17, 2014 1:31 pm
Total posts: 67
[0.08% of all posts / 0.04 posts per day]
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Most active forum: Personal Finance
[ 67 Posts / 100.00% of user’s posts ]
Most active topic: Ethical Quandary - Strategic Default due to flood insurance
[ 4 Posts / 5.97% of user’s posts ]

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bunbury Posts

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 Forum: Personal Finance   Topic: Ethical Quandary - Strategic Default due to flood insurance

Posted: Thu Sep 12, 2013 12:01 pm 

Replies: 63
Views: 6880


I bought it in October, so I'm screwed along with hundreds of thousand of people. I was screwed, not by my RE agent, not by the Insurance Agent, but by the US Government. The way it was passed, not even the insurance companies knew about it until 3 months ago.... Even if I was lucky enough to be gra...

 Forum: Personal Finance   Topic: Ethical Quandary - Strategic Default due to flood insurance

Posted: Thu Sep 12, 2013 9:14 am 

Replies: 63
Views: 6880


Are you required to have flood insurance? E.g. by the mortgage? If it's the mortgage, can you just pay it off? And then self insure? Yes, required by federally backed mortgages, which is essentially all mortgages. I took the shortage mortgage length (15 years) I can afford, I can't pay it off any f...

 Forum: Personal Finance   Topic: Ethical Quandary - Strategic Default due to flood insurance

Posted: Thu Sep 12, 2013 9:09 am 

Replies: 63
Views: 6880


wow...I guess all the homeowners from millions of foreclosures and short sales in the last few years should all be thrown in jail. How dare they not pay off the mortgage on an underwater house.....Not everyone has hundreds of thousands of dollars to pay off their mortgage and do the "right"...

 Forum: Personal Finance   Topic: Ethical Quandary - Strategic Default due to flood insurance

Posted: Wed Sep 11, 2013 11:33 am 

Replies: 63
Views: 6880


So, I bought a house last year that's in the flood zone, and was okay with the fact that my flood insurance is $1000/year. Then, apparently, 3 months ago, something called the Biggert-Waters Act came into effect. Now, premium is risked based and I'm looking at rates of $15,000/year....that's right, ...

 Forum: Personal Finance   Topic: Why we live the Frugal life

Posted: Tue Sep 10, 2013 9:53 am 

Replies: 18
Views: 3467


if you're married and both spouse works for company that provide dental coverage, both should opt in. That way, you can double the coverage, and dental is usually not that expensive.

 Forum: Personal Finance   Topic: Thinking About Buying A House Need Advice

Posted: Mon Aug 26, 2013 12:07 pm 

Replies: 37
Views: 4183


If i were you, I would stay in free housing for as long as possible until your income exceeds the threshold that would disqualify you. Then think of buying vs. renting at that point. Why give up such a sweet deal? It is the reason why you're able to build wealth despite your low earnings. You basica...

 Forum: Personal Finance   Topic: Current Financial Status and Move Forward Plan

Posted: Wed Aug 21, 2013 10:43 am 

Replies: 5
Views: 1017


why are you paying off the mortgage in such a rush? If indeed you're going to quit and scale back your work by being a freelance consultant/self-employed, I would think you would need all the liquid cash you can save to meet your monthly expenses in months when work is slow. For me personally, this ...

 Forum: Personal Finance   Topic: Liability for Company Credit Card

Posted: Tue Jul 30, 2013 2:04 pm 

Replies: 4
Views: 987


i think you're personally liable for the balance. Check your expense reimbursement policy, should be clearly defined.

However, I've never seen my corporate amex show up on my credit report.

So, maybe there's no impact.

 Forum: Personal Finance   Topic: Not sure which to pay first

Posted: Mon Jul 29, 2013 10:29 am 

Replies: 14
Views: 2013


can you refinance your car loan? 12% is crazy. I'm always seeing 1.99% rates from my credit union (PenFed). shop around for insurance too? or is the high premium a result of bad driving record. You should research what you can do about bringing the # of points on your license down in your state. cre...

 Forum: Personal Finance   Topic: I am in good shape, but I am lost, can you help me?

Posted: Mon Jul 29, 2013 10:11 am 

Replies: 13
Views: 2791


What is your living situation like again? $400 sounds like a great deal - and I wouldn't trade it for home ownership unless your living standards is heavily compromised in your current situation. You should know that home ownership is not automatically better than renting. In fact, from my experienc...

 Forum: Personal Finance   Topic: Refinance recommendations?

Posted: Wed Oct 03, 2012 7:27 pm 

Replies: 15
Views: 3130


try something local. i was going to go with Provident until I found a local bank with rates just as competitive (2.75% with .5% credit back for 15 year fixed). We went with the local bank because they guarantee to close within 30 days, whereas provident (because of extra paperwork?) only said it may...

 Forum: Personal Finance   Topic: Poor Car decision: Need to Eat the costs?

Posted: Sat Sep 29, 2012 8:02 pm 

Replies: 19
Views: 2997


Northern, I definately did learn something, to listen to my wife when it comes to justifying big purchases :o Keep the car, don't give your wife the smug satisfaction of telling you "I told you so..." Just kidding. I'm sure she'll be very appreciative of the sacrifice and your willingness...

 Forum: Personal Finance   Topic: Buy VS Rent with specific details included:

Posted: Sat Sep 29, 2012 7:53 pm 

Replies: 5
Views: 1331


wow...why is your GF stuck on such a long term lease? anyway, being next to water is great, but be sure to budget for flood insurance if it is in a flood zone (or is that covered by HOA?)...FEMA sets the rates, so you can't find a deal. anyway, if you're young and mobile, and don't expect to stay 5+...

 Forum: Personal Finance   Topic: community property & RDP (Taxes)

Posted: Tue Feb 07, 2012 9:09 pm 

Replies: 2
Views: 831


Is any one familiar with the new community property reporting requirement on the Federal return starting this year? I've read the IRS publications, but am still confused at when the income is split? Since my partner and I became RDPs at the very end of 2011, do I simply add both our W-2s and divide ...
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