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^^^
I do not htink this is the way that PMI (Private Mortgage Insurnace) works. It is not like "lease gap" insurance on a car where if it is totaled and you owe more than it is worth, the insurance covers the rest.
I think, and I could be wrong, PMI only covers the bank, not the homeowner if the owner does not make the payments.
I think you first have to loose the house before PMI is good for anything.
Went to college (for 6 yrs, paid for by buying and selling cars), lived in a E36 M3hole (in picture with Sable) with $200/month rent (and saved every penny I could, and bought and sold cars, and do vinyl decal work and am a competant mechanic and farmer on the side) while I worked as a tech writer for John Deere Dubuque Works for 2 yrs and then bought a house straight cash in Wauwatosa from a friend of my grandparents who moved to a retirement home (so I got it for a hell-damn-fart good price) when I changed jobs. Want any more info?
Besides, believe what you want, I can sleep soundly at night knowing I wont be stealing from the pockets of honest taxpayers because I made a bad decision.
Bad decisions come in many forms, the most common of which is showing a decidedly large lack of tact.
93gsxturbo wrote:Went to college (for 6 yrs, paid for by buying and selling cars), lived in a E36 M3hole (in picture with Sable)
The Sable ad was posted 2 weeks ago...... So you lived in a E36 M3hole 2 weeks ago, but are living it up now.... OK, I believe you.
93gsxturbo wrote:Besides, believe what you want, I can sleep soundly at night knowing I wont be stealing from the pockets of honest taxpayers because I made a bad decision.
Nah, you just stole from some nice old folks who could have had a lot more money for their house instead. Look, if you want people around here to listen to anything you say from this point on the first step is to apologize to the people you've blatantly insulted instead of digging the hole deeper.
93gsxturbo wrote:Went to college (for 6 yrs, paid for by buying and selling cars), lived in a E36 M3hole (in picture with Sable) with $200/month rent (and saved every penny I could, and bought and sold cars, and do vinyl decal work and am a competant mechanic and farmer on the side) while I worked as a tech writer for John Deere Dubuque Works for 2 yrs and then bought a house straight cash in Wauwatosa from a friend of my grandparents who moved to a retirement home (so I got it for a hell-damn-fart good price) when I changed jobs. Want any more info?
Oh, ok. Now all the lies make sense. What format did you use Tech writing? Any samples? I know lots of people who do decal work and buy mansions just out of college
What certifications do you hold as a mechanic? You must have had a dealer license to buy and sell enough cars to pay for 6 years of school huh? What program and machine did you use for vinyl work?
Anyway, like someone said here, we aren't going to believe you anyway and the bottom line (and the only one we care about) is that you are an immature, insulting jerk and that stigma will stay with you here for a very long time.
Thanks again all. I have been searching indeed.com, it's a great site! We are talking to our mortgage company today to see what we can do. Our credit is excellent so I think they will work with us here. I was thinking about buying and selling mansions to make money, I hear you can get them really cheap!
Mental, you have a [super secret GRM] PM
Check the when the picture was taken, it was done in ~March... I have only been at this new job 3 weeks and am not even fully moved in yet. Just got finalized a few weeks ago. Some stuff is at my parents place yet and some stuff is at my friend's house.
Format for tech writing: It was John Deere, or Deerebonics as I called it. We used Arbortext with a bunch of plugins for Deere standards. It was basically XML and SGML, with the SGML used as a legacy format for linking.
Samples of tech writing: Anything in any John Deere C&F manuals published in the last 2 years. 648H. 748H, 848H Skidders, D series Motor Graders, 850J and JR Crawlers, Swing machines, and Integrated Harvesters.
Mechanic certifications include Deere Level 2 for crawlers, motor graders, and excavators. Also Deere Level 2 powertrain. I am close to being certified for New Holland large square balers as well but have not completed it since I changed careers. I feel my certifications are not worth that much since I can RTFM and I never plan on being a mechanic for a living.
You can legally sell 6 cars/year in Wisconsin (36 cars, enough to pay for school) and there is no limit on the amount of cars you can part out as long as you keep good records for the tax man. Another good trick for paying for school was I took out as many student loans as I could and invested the money. As soon as school was out I pulled the money back out and paid off the loans and kept the profit.
I use Adobe Illustrator CS2 with a Roland plugin for cutting decals. I right now have a Roland Stika SV12 cutter, I used to have an ST12 and then a CAMM 1 I had to sell because I didnt use it enough to justify a $2500 plotter. I was never taught to do this, just bought a book, did some experimenting, and gave a TON of vinyl away to get my name out there. Now I just do it as I have time, more in the winter, less in the summer. I did a race car trailer a few months before I sold the CAMM 1 that turned out well, I wish I had pics but I lost them when my computer died. I had a nice 30' deep garage at my E36 M3ty rental property so I did a lot of vinyl in there. Fortunately decals are really a great industry. Supplies are dirt cheap from Sign Warehouse and it takes minimal space. The machines are expensive (my new Roland SV12 was $600 or so) but they are worth almost that much with decent use on them. My first machine I bought of Ebay, used it for a year, and sold it again on Ebay.
Dont forget I went to school right at the height of the Fast and Furious. I was selling so many Neuspeed decals out of my dorm room that I just stocked them in various sizes and colors. I had people coming over at least 2 or 3 times a day some weeks.
I can live with being a jerk, but if you are gonna call me anything, I would suggest "arrogant prick." I have had that stigma on this board for a while, and I am fine with it.
I didnt just sell cars either. Kawasaki Jet Skis were another huge moneymaker for me in school.
As one of my favorite actors said in one of my favorite movies, "In this world you can be oh so smart or oh so pleasant. Well, I was smart for a while; I recommend pleasant."
Might be time to give that a whirl, kiddo.
Margie
Well, I called the mortgage company today. They won't help. It seems "your expenditures are much higher your income. We would not be in the position to offer any assistance" So, if I was close to being able to keep my head above water they would help, but since I'm in dire straits here they would rather watch me drown and end up with a house they can't sell?? Well, either way I'll end up ok. I don't expect to loose my house but it is in the back of my mind. I'm trying to avoid moving out of state so my kids will know their grandparents but if that's what has to happen, that's what will happen.
DrBoost wrote:So, if I was close to being able to keep my head above water they would help, but since I'm in dire straits here they would rather watch me drown and end up with a house they can't sell??
Sounds just like a bank. :rolleyes:
I truly feel for you and your situation, and I wish I had some constructive advice to offer, but all I can say is that my thoughts are with you and I do wish you luck in finding a solution soon.
DrBoost wrote:Well, I called the mortgage company today. They won't help. It seems "your expenditures are much higher your income. We would not be in the position to offer any assistance" So, if I was close to being able to keep my head above water they would help, but since I'm in dire straits here they would rather watch me drown and end up with a house they can't sell?? Well, either way I'll end up ok. I don't expect to loose my house but it is in the back of my mind. I'm trying to avoid moving out of state so my kids will know their grandparents but if that's what has to happen, that's what will happen.
Something to keep in mind: the bank is NOT in the real estate business. They do NOT WANT to be in the real estate business. They are in the MONEY LOANING business.
They are going to bark and snarl (at least at the lower management levels) because that's their job, to scare you into making your montlies. Bypass the lower level types, you may have to do this in person BTW. Go to the branch mortgage manager, if you hit a stone wall go to the regional manager. Lay your cards on the table in a direct but not arrogant manner, say basically 'I am doing my best to make this work but I am going to need your help. Your help will keep you from having yet another foreclosed property on your hands.' I bet that will get you some short term assistance, maybe interest only payments for six months.
BUT- Do NOT be a jerk about it.
Good luckwith it.
boy this is THE most "collapsed" thread I have ever seen on here. actually it's the only one with "collapsed" posts in it that I have seen on here.
I have no advice to give as I rent from a friends parents, am unemployed right now (working on getting a business up and running), have 3 kids + wife with disabilities, I am not able to make ends meet for the most part with no real prospect of ever being able to unless I can manage to pull off getting my business up and running. Sometimes life hands you lemons and you just need to figure out who can help you make lemonade.
I replies to the email, but got a bounce back, so I used the PM format, I dunno if you got it, but I have sent two is response to your question. If it didn;t get to you, lemme know.
and no, its about COL in Colorado, not about my cousin vinnie who can do him a favor.
Mental wrote:I replies to the email, but got a bounce back, so I used the PM format, I dunno if you got it, but I have sent two is response to your question. If it didn;t get to you, lemme know.
and no, its about COL in Colorado, not about my cousin vinnie who can do him a favor.
I didn't get the responses. Could you send them to tracy.pospeshil@yahoo.com Thanks.
DrBoost wrote:They won't help. It seems "your expenditures are much higher your income. We would not be in the position to offer any assistance"
I am sure you have already thought of this, but have you drastically cut other expenses? Cancellled the cable, turned off the AC, cut back on the cell phones, feeding the kids all ramen (they'll live)?
If it were me, I think I would go into hyper frugal mode, but I realize that can only help so much. But, You probably could stretch out your cash reserve a little bit. Does your wife work? If not, is there any reason she can't? How old are your kids? It sounds like you are at the point that you need to re-evaluate all options.
Like others have said, finding a job really is about networking. Do you know anyone who left your previous employer forgreener pasteurs in the last couple of years? If so, see if you can get in touch with them to find out if they have heard of any openings.
WilD wrote:DrBoost wrote:They won't help. It seems "your expenditures are much higher your income. We would not be in the position to offer any assistance"
I am sure you have already thought of this, but have you drastically cut other expenses? Cancellled the cable, turned off the AC, cut back on the cell phones, feeding the kids all ramen (they'll live)?
Yeah, we have. Cable is gone, internet is changing over to a slow connection, insurance on the mini is cancelled, insurance on the miata will run out and we'll use one car. We ride our bikes into town if at all possible, no more eating out, no more pizza, selling EVERTHING (including above mentioned mini 
) and the list goes on.
WilD wrote: If it were me, I think I would go into hyper frugal mode, but I realize that can only help so much. But, You probably could stretch out your cash reserve a little bit. Does your wife work? If not, is there any reason she can't? How old are your kids? It sounds like you are at the point that you need to re-evaluate all options.Like others have said, finding a job really is about networking. Do you know anyone who left your previous employer forgreener pasteurs in the last couple of years? If so, see if you can get in touch with them to find out if they have heard of any openings.
My wife owns her own business but it's so new it's still a break-even proposition. She is also looking for work as well though. I have been networking like crazy. I am on www.linkedin.com and have sent my resume out to anyone in my 2nd order contacts that is feasible. I did get a call from someone who left for greener pastures. I may have a temporary gig for 2 months.
Thanks WilD and everyone else for your help. Tomorrow I will be making a few calls about an interview I had last week and the job on CO. I think everything hinges on what I hear tomorrow from the company I interviewed with here in Mi.
Ive read that GM is hiring new workers at $14/hr to replace the old workers that earn a lot more. Any chance there?
The old workers make $.25/hr the new workers will make$.14/hr... you missed the point ;)
To all that are saying "Boo hoo, you are from Michigan and it sucks... It sucks everywhere!" I would LOVE for you to try to make $15.00 per hour here.
I challenge you to make $10.50 per hour.
There are jobs here in Michigan, the problem is that they are either $5.75-$9.00/hr jobs with mandatory overtime or wait staff at the local Hooters where you make $3.25/hr + tips but since no one can afford to go to Hooters you make no tips so you make $3.25/hr.
I am still working a lot of hours per week but I struggle every week and a second job is out of the question because of my hours. IF I could make what I am making now in a 40 hour week and get a 30-40 hour job at $9.00 per hour I would be set but it doesn't work that way around here.
I really understand Boosts problem, I just happen to be employed for now. I went to a wedding in Iron Mountain Michigan this weekend and there were tons of $15-25/hr job positions available in the region. I would have considered looking into the area but since I too am 4 years into house payment (only $15K left and still couldn't sell for what have invested but I bet I am closer to not losing than Boost)
The wage level working poor is going up just as much as the unemployment rate in Michigan but no one is getting anywhere here. There is nothing You, me or even government can do about it and that scares me.
This thread scares me. I bought my first home (classic mortgage) two years ago and had to turn down a company transfer to WI earlier in the year because of it. I'm still here and still employed, but I know I'm stuck since all the equity from my down payment has evaporated. Things look bad and they look worse every day, but I am very glad my wife and I are still working.
The people saying that you shouldn't buy more house than you can afford are forgetting that when youre unemployed there is NO house you can afford. Meaning if you base your house buying decisions on whether or not you'll be able to afford it if you become unemployed for a long period of time, then you won't buy a house ata ll. Or are they implyig that you shoud only buy a house with cash up front and not have a mortgage at all?
With the market doing what it did, you could have bought a house you could easily afford, and still end up upside down in the house, which could end you in bad straights if you lost your job. I'm almost in that position and I bought my house back in '01...
Chris_V wrote:The people saying that you shouldn't buy more house than you can afford are forgetting that when youre unemployed there is NO house you can afford. Meaning if you base your house buying decisions on whether or not you'll be able to afford it if you become unemployed for a long period of time, then you won't buy a house ata ll. Or are they implyig that you shoud only buy a house with cash up front and not have a mortgage at all?
With the market doing what it did, you could have bought a house you could easily afford, and still end up upside down in the house, which could end you in bad straights if you lost your job. I'm almost in that position and I bought my house back in '01...
exactly. We sold our house in Livonia and moved to Fenton. The house in Fenton was 10K cheaper than the one in Livonia so it was easily affordable. Like you said, when you have no job, no house is affordable. If I were to rent until a fictional mansion fell into my lap I'd be in the same basic boat. I'd be broke and worried about how to make rent.
And yes, like others said, Michigan is a whole different ball of wax. There are very few jobs that pay 10/hr here and there is a line of people waiting to fill those. My wife was in Pizza Hut (we had a coupon for a free pizza for my son) last week or so. She said there were 20 people filling out applications for the 1 job opening. At the same time there was 1 couple actually eating there. Scary
