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Slow Motion posted:What a bitch to make a play to control the guy's finances. That's classic abuser behavior. He was 100% right that per-marriage it was nobody's business but his. And instantly getting kicked out? That's straight up illegal to do to some one paying rent. Tell me about your mother, Slow Motion
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May 10, 2014 16:15
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Dik Hz posted:It depends a great deal on the state. gently caress, when I lived in Maryland verbal leases were binding contracts. So, "You can crash here until you get back on your feet" confers full legal rights as a tenant. In reality you just dump all of their poo poo on the curb and just feign ignorance to anyone official. This is all a moot point because the type of person who crashes rent free on a verbal contract isn't the kind of person that will try to sue you or go to the police because you kicked them out. They'll just find another person to mooch off.
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May 10, 2014 17:06
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Here, let's do more from /r/personalfinance:quote:So last year my wife and I got a 2011 Chevrolet Equinox. I was in the Air Force at the time, and my wife was extremely adamant about getting this vehicle, no matter what. She was convinced her father would help us with it because I have a terrible credit rating (below 600) and I knew before even going in that it was a bad idea, and that we didn't need to do it - we already had a 2008 Impala that was treating us well. My poor credit rating stems from two credit cards I have and it is as low as it is now due to this car payment being so high.
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May 11, 2014 19:49
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Man, it's bad enough being financially crippled by a car payment... but crippled by the payment on a used Chevy Equinox just lol.
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May 11, 2014 20:06
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There is a guy I know on WIC that drives around in a loaded automatic dodge charger in the military.
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May 11, 2014 21:26
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Boris Galerkin posted:Here, let's do more from /r/personalfinance: What What's stopping him from selling the car? Or taking the credit hit and having it repossessed? Trading it in?
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May 11, 2014 21:41
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Meowjesty posted:What's stopping him from selling the car? Or taking the credit hit and having it repossessed? Trading it in? His wife.
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May 11, 2014 22:41
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Sokani posted:His wife. Goddamn single life is great
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May 11, 2014 22:54
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It's impressive how many financial problem stories are just masking relationship problems.
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May 12, 2014 00:14
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What the air force guy doesn't mention is that he was probably in a good financial place to pay off that car so long as he was enlisted. When I worked sub-prime vehicle finance we loved military guys because they have zero debt. The outstanding credit lines are still there, but so long as you're enlisted you apparently don't have to make payments. Don't know if interest accumulates while you're serving. Sounds like this guy wasn't paying off the cards while he was enlisted and now that he's been discharged his debts are being called in. I'm kind of curious about how repossession works if you live on a military base. If some dude drives up to the gate in a tow truck and shows the paperwork, will they just let him drive on to the base and take your vehicle?
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May 12, 2014 00:19
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more friedman units posted:It's impressive how many financial problem stories are just masking relationship problems. Aren't financial issues the primary reason behind like 50% of divorces? Edit: Yep, this article says 45%. And I imagine that poor financial decisions are a contributing factor to even more than that since lovely financial decisions cause all sorts of other stresses.
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May 12, 2014 00:28
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RommelMcDonald posted:What the air force guy doesn't mention is that he was probably in a good financial place to pay off that car so long as he was enlisted. When I worked sub-prime vehicle finance we loved military guys because they have zero debt. The outstanding credit lines are still there, but so long as you're enlisted you apparently don't have to make payments. Don't know if interest accumulates while you're serving. I'm fairly sure not only will they allow repo units to take the car, but also there will be job repercussions as well. Particularly if there are any clearances involved.
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May 12, 2014 01:36
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RommelMcDonald posted:What the air force guy doesn't mention is that he was probably in a good financial place to pay off that car so long as he was enlisted. When I worked sub-prime vehicle finance we loved military guys because they have zero debt. The outstanding credit lines are still there, but so long as you're enlisted you apparently don't have to make payments. Don't know if interest accumulates while you're serving.
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May 12, 2014 01:53
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Yeah most of our military customers were young. We were usually the first new credit line they opened after enlisting so I didn't see any garnishments. I should clarify that your previous debts get frozen once you enlist, you're still responsible for anything after that. I got to see a lot of paychecks since I did income verification. The worst garnishment I saw was one where they had about $30K worth of earnings 9 months into the year with $20K worth garnished. Salespeople will often fight to keep a deal alive and do anything to run past any objections from the lender, but it was one of the few times the salesperson's jaw hit the floor and cursed out the customer for wasting his time. Nearly all of our customers fell into the "bad with money" category. Sometimes they'd realize how stupid they'd been 2-3 months into it and try to get out of the contract, but we required they make half the payments they committed to on their 2-5 year term. Some creative ways they tried to get out of it: -Call in and ask if they could "sign over the contract" to a third party who would make payments. I'd have to patiently explain it was their credit approval and that's just not how things work. -Drop the motorcycle off at the dealership in the middle of the night in the hopes that this would somehow invalidate their contract. -Drive the motorcycle to the top of a hill and tip it over. Let insurance handle the rest. I had a several people call in and ask, "Well would it be counted as theft if I just left the key in the ignition and parked it in a bad neighborhood?" I wasn't legally allowed to answer that question (it's a definite no) since I was not a licensed insurance agent, but it was fun explaining how sharing your plans to commit insurance fraud is monumentally stupid. Our in-house insurance guy was convinced that our high rate of total-loss incidents was partially due to this.
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May 12, 2014 03:44
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Meowjesty posted:What you can tell how weak willed he is from his post
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May 12, 2014 05:41
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I was out the other night with a friend of mine, and she was telling me about her sister in law and their situation. She just had twins three months ago. I've never met the father, but from the sounds of it, he's a total loser. They just bought a house with 0% down, and she's the primary bread winner as a dental hygenist. He has some temp job, but is terrible with money, so she makes him hand over the paycheck to her whenever he gets it so he doesn't blow it all on dumb poo poo. This worked against her (I guess, I don't own a house and don't really know the whole mortgage process) when it came time to buying the house, because it's in her name only, but it looks like she has all this extra income which was really his. They have two dogs, and a cat, and he wants to get another dog. He also wants to get the kids ears' pierced at three months old.
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May 12, 2014 13:10
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GAYS FOR DAYS posted:I was out the other night with a friend of mine, and she was telling me about her sister in law and their situation. She just had twins three months ago. I've never met the father, but from the sounds of it, he's a total loser. They just bought a house with 0% down, and she's the primary bread winner as a dental hygenist. He has some temp job, but is terrible with money, so she makes him hand over the paycheck to her whenever he gets it so he doesn't blow it all on dumb poo poo. This worked against her (I guess, I don't own a house and don't really know the whole mortgage process) when it came time to buying the house, because it's in her name only, but it looks like she has all this extra income which was really his.
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May 12, 2014 15:59
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GAYS FOR DAYS posted:I was out the other night with a friend of mine, and she was telling me about her sister in law and their situation. She just had twins three months ago. I've never met the father, but from the sounds of it, he's a total loser. They just bought a house with 0% down, and she's the primary bread winner as a dental hygenist. He has some temp job, but is terrible with money, so she makes him hand over the paycheck to her whenever he gets it so he doesn't blow it all on dumb poo poo. This worked against her (I guess, I don't own a house and don't really know the whole mortgage process) when it came time to buying the house, because it's in her name only, but it looks like she has all this extra income which was really his. Did she count his income as her income when she applied for the mortgage? Sounds like a pretty lovely loan originator if they didn't check her W2 against the reported income.
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May 12, 2014 16:05
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I wouldn't blame the borrower for a loan falling through. When I tried to buy my house last year, the loan almost failed and I had to escalate to the head underwriter to get some common sense applied. The "problem" was that I had planned to close on my new house before I sold the old one, even though I already had the old one under contract. My wife and I both work, and my income would have been enough to pass the Debt/Income ratio test. My wife's wasn't. They tried to underwrite the loan using only her income (because I had only been at my job 2 months...that's why we were moving) and ignored the fact that the old house was already under contract. I had even put 35% down to get the lower interest rate. They only fixed it when the head underwriter said that my income could be used. I'm not completely convinced that they weren't trying to tank it intentionally, given that interest rates went up more than a whole point between my lock-in and my close. They still made me borrow $10k more than I wanted, on the day before closing, so that I'd have "6 months cash reserve" in case the sale on the other house failed. I had the reserves in an account that I hadn't disclosed to them because they hadn't asked. It pissed me off, but I wasn't about to rock the boat over that. The rate is so low that I'm turning profit on the extra $10k and I expect it will be beneficial to me over the life of the loan. Still, banks are crazy right now. I can understand why so many home purchases are cash. Folly fucked around with this message at 17:17 on May 12, 2014 |
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May 12, 2014 17:14
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Couldn't you have turned around and paid back the extra cash? My credit union does personal loans on an amount / lifetime table for interest rates; when I went for my boat I was borrowing 11k; the loan officer showed me her screen for whatever reason and I saw I'd pay 2% less interest if I borrowed more than 12.5k. Borrowed $12,510, waited a day, paid back $1,510.  It was set up as a line of credit on my credit card so it took all of three clicks on the website. Didn't make a big difference since I had the whole thing paid off inside of six months, but hey, I totally worked one over the banking system!
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May 12, 2014 17:22
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I can at anytime. The catch is that the loan is at 3.625% and my taxable investments are returning a fair bit more. I kinda assumed it was better to invest the money than use it to pay down the loan as long as that's the case. And I expect that to be the case, on the average, over the next 30 years.
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May 12, 2014 17:28
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If the interest rate is fixed and you're confident your investments can return more after taxes, go for it I guess.
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May 12, 2014 17:31
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SiGmA_X posted:The underwriter wouldn't combine their income, or be fooled by regular unexplained deposits. They aren't "fooled" by unexplained deposits, they're forced to do extra investigation to make sure you aren't pulling something shady and falsifying the source of your funds. It won't prevent you from getting a loan, but it will make you jump through extra hoops to prove you aren't doing something illegal. FrozenVent posted:If the interest rate is fixed and you're confident your investments can return more after taxes, go for it I guess. Since the mortgage interest is generally tax deductible, accounting for the taxes on your investments doesn't really change the picture much (especially considering the low capital gains taxation). Zhentar fucked around with this message at 17:40 on May 12, 2014 |
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May 12, 2014 17:36
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Zhentar posted:They aren't "fooled" by unexplained deposits, they're forced to do extra investigation to make sure you aren't pulling something shady and falsifying the source of your funds. It won't prevent you from getting a loan, but it will make you jump through extra hoops to prove you aren't doing something illegal.
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May 12, 2014 21:03
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Well this isn't going to turn out poorly in a few months:quote:So I've been living on a really tight budget the last couple of years. My wife is a stay at home mom (not because she's lazy, no stay at home mom is lazy! But because we want to be there for our kids) and I work full time, but with three kids, a car and an apartment to pay, there is not much room for excess in our family's economy. I just felt that I never got to indulge in anything. I have a bad conscious everytime I look at something really cool, but unnecessary. I'm thinking I can't spend this money on myself. And in the end, I don't end up buying anything. Most our money goes to food, bills, gas and that sort of stuff. Which is quite boring. Another weird intersection between bad with money(so he can't save up to buy anything he wants...unless he stashes it physically?) and e/n(he needs to have a discussion with his wife about this yesterday).
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May 13, 2014 15:37
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Haifisch posted:Well this isn't going to turn out poorly in a few months: I don't see this as a problem. He's creating a budget for himself to buy something that he wants. Just because he's a dad with 3 kids doesn't mean he can't purchase something for himself. He's taking out $15 a month. That's $180 a year. I wish I only spent $180 on myself a year. It's not like he'd be making much off the interest if he put it in the bank, anyway. Sometimes it helps people not to spend if they don't see the money their saving in their online statement.
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May 13, 2014 15:48
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It's better than putting it all on plastic and paying the monthly minimums. I can sometimes be just as bad as this guy when it comes to splurging on fun stuff, even though I have the budget for it. I'm currently cleaning house and selling stuff that I don't need anymore. I'm just going to let that money sit in my Paypal account until I feel like surprising my wife with something nice (a trip, whatever) with off-budget money. Sometimes we have to play mind games with ourselves to get things done.
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May 13, 2014 15:52
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Yeah I mean, we have a "blow" line item in our budget and it's not even stuff we take out, just a "oh we got new year money, or birthday money, or some random thing, let's put some of it in blow" because if we didn't do that, we'd never buy anything without justifying it in the budget. Mind games indeed.
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May 13, 2014 15:56
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It's kind of like the envelope system, but in reverse: he's stashing a bit of money away every month in a physical envelope to save up for something he wants later. That's not bad with money, that's just the only way some people can really save. I have coworker that has like 4 different savings accounts each for a different item he's saving for, because to him it's easier to see an entire balance dedicated to one item then a ledger item on one larger account like most of us do.
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May 13, 2014 15:58
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Haifisch posted:Well this isn't going to turn out poorly in a few months: There's a really sad story by Georges Simenon with the same basic premise. Also, 100 SEK does not go very far at all in Sweden. It definitely buys much less than $15 does in the US. The cost of living (goods and services specifically) is obscene in Scandinavia.
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May 13, 2014 16:10
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I guess it could be bad if his wife feels the same way about her inability to spend money on herself. But ya, the solution is probably that she should get an allowance too. some guy on reddit posted:no stay at home mom is lazy! I'm going to try to avoid the  here. But the correct phrase is, "Being a stay at home mom doesn't AUTOMATICALLY make you lazy." But because I've been a stay at home dad a couple of times, this attitude drives me nuts. Being a competent homemaker is a full time job that has meaningful benefits. Being an incompetent homemaker is just lazy. I've known a few of each.
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May 13, 2014 16:10
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silvergoose posted:Yeah I mean, we have a "blow" line item in our budget and it's not even stuff we take out, just a "oh we got new year money, or birthday money, or some random thing, let's put some of it in blow" because if we didn't do that, we'd never buy anything without justifying it in the budget. I too have a line item for blow, but I don't think we're on the same page here.
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May 13, 2014 16:26
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Missing out on interest from $180/year isn't a big deal. Sneaking around and physically hiding cash at your job rather than having a conversation with your wife?
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May 13, 2014 16:32
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i like nice words
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He could be talking about his home office, too. There's really not enough information to make assumption about their relationship or financial situation, honestly.
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May 13, 2014 16:33
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Anne Whateley posted:Missing out on interest from $180/year isn't a big deal. Sneaking around and physically hiding cash at your job rather than having a conversation with your wife? I don't think he's trying to hide the money from his wife, he's trying to find a way to put it out of sight, and out of mind. I wish my wife only spent $15 on discretionary things a month. Hell, I wish that I did, too.
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May 13, 2014 16:41
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My dad just bought a used truck from a guy in my city on craigslist. Dad lives in a city a couple hours away. He bought the truck for $5k, and needed a loan for $4k. If you've ever bought from a private party with a loan, it's sort of a pain. It would be logistically difficult to have the guy go to dad's credit union in another city to transfer the title. So the credit union offered him a short term personal loan at 14% interest so he could have $4k in cash right away, pay the guy, drive the truck back, and convert it to a 3% auto loan. Instead, I volunteered to float him $4k for a weekend so he could pay cash and get the title transferred to the bank once he drove it home. This kept him from having to take a 14% loan (with some origination fees) for a week for $4k. If his finances were in order the scenario could have gone two ways. He could have paid cash outright for the car, having saved up for it for a year or two (because he knew he had to replace his old vehicle). Or he could have taken $4k from his emergency fund for the weekend and taken out the car loan the next week and replenished his emergency fund. The moral of the story is that financial freedom comes from saving and budgeting. I'm happy to help him out, but I wish for his sake that he didn't need the help.
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May 13, 2014 18:06
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Nocheez posted:It's better than putting it all on plastic and paying the monthly minimums. I can sometimes be just as bad as this guy when it comes to splurging on fun stuff, even though I have the budget for it. Do not leave any amount sitting in your paypal account.
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May 14, 2014 00:18
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FrozenVent posted:He could be talking about his home office, too. Now when has that ever stopped sanctimonious goonouts?
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May 14, 2014 00:20
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MAKE NO BABBYS posted:Do not leave any amount sitting in your paypal account.
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May 14, 2014 00:24
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MAKE NO BABBYS posted:Do not leave any amount sitting in your paypal account. moana posted:Double ditto on this. Paypal is a bunch of bitches, do not ever ever ever leave money in there like it's a bank. It is not a bank, it's not FDIC insured. Learn this lesson. I learned that lesson by having $600 tied up in PayPal purgatory for 3 months and spending 12+ hours on the phone with customer service people. 
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May 14, 2014 01:16
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