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Agree, when my servicing was switched to chase is was very smooth. I already had a credit card with them, and when I logged onto my account my mortgage was there with no action required on my part.
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May 3, 2022 03:30
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Just bought a sizable property and one of my biggest DIY wins has been ziptie'ing hog panels to the posts I set but didn't have time to actually fence in. I thought it would be a solution that would last a matter of days, but both my wife and I have started to love the minimalist look and it seems sturdy enough to last for weeks, maybe even a couple months.
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May 3, 2022 05:17
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How do I get PMI to go away? When I purchased my home I only put down 5%. According to Redfin* my home has appreciated 20% or so since I made that purchase. Do I just pay for an appraisal and send that in to the loan servicer? I should have asked when I got the financing but I wasn't expecting this to happen so soon. *I know this number is not to be trusted fully.
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May 3, 2022 06:52
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I mowed my tiny 700sq ft lawn as a child with a corded lawn mower. It was fine for the six years or so I did it. I now have a manual push reel mower I have an ego power battery powered leaf blower they make great battery powered lawn stuff
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May 3, 2022 13:13
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CongoJack posted:How do I get PMI to go away? When I purchased my home I only put down 5%. According to Redfin* my home has appreciated 20% or so since I made that purchase. Do I just pay for an appraisal and send that in to the loan servicer? I should have asked when I got the financing but I wasn't expecting this to happen so soon. Call your servicer. but yes you'll have to fill out a form, hand them $500 for an appraisal and hopefully you get PMI gone.
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May 3, 2022 14:07
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tater_salad posted:Call your servicer. Anyone done this in the bay area recently? I'd rather hold onto $500 than have them say "laffo nobody believes your evaluations even with an appraiser," but if I go by supposed market value, I'm way over 20% equity now after two years of horseshit unsustainable value increases. It'd be nice to have that money back so I can throw it at something more useful, like a meth habit.
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May 3, 2022 21:22
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tater_salad posted:Call your servicer. Yea that makes sense. I also want to know what happens of it appraises in and I have like 19% equity. I will call them at some point and ask.
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May 3, 2022 21:35
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Edit: ^^ they MIGHT update your appraised value so when you hit 22% LTV you'll drop PMI but that's 100% a question to ask your lender, as it probably varies by laws and servicer. Sundae posted:Anyone done this in the bay area recently? I'd rather hold onto $500 than have them say "laffo nobody believes your evaluations even with an appraiser," but if I go by supposed market value, I'm way over 20% equity now after two years of horseshit unsustainable value increases. It'd be nice to have that money back so I can throw it at something more useful, like a meth habit. you don't pick the appraiser out of the blue. it Works like this: 1. Call servicer and say "I'd 'like to get rid of PMI, what do" 2. They send paperwork 3. You fill it out & send it back 4. They'll give you a list of appraisers / pick an appraiser for you to call and book within X days They can't say "Laffo Nobody believes it" the valuation from an appraiser they used to value your loan to make sure you weren't paying 2 milllion for a 500k house. To ensure you're not calling your buddy Jeffy the appraiser you get either an appraiser from a list that they randomly pull, OR you get like a list of 5 to choose from that are "up" on the list. These are folks that they trust, because they're using it to ensure the collateral of your secured loan is properly evaluated. If you want to see if it's "worth it" look up closed sales on Zillow or published sales in your local newspaper / wherever its' posted (RE transactions are public record in most places) for houses in your area that are comparable. Also call your old RE agent and say, hey that house I bought with you what would you list it for today? They'll likely help you out since being an RE agent means keeping clients happy for when they buy/sell again and it's not a lot to ask them. Orrr if you wanna be an rear end in a top hat pretend you are selling call a few RE agents and have them walk though the house ask what they'd list it for and then "think about it" tater_salad fucked around with this message at 21:43 on May 3, 2022 |
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May 3, 2022 21:40
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tater_salad posted:Edit: ^^ they MIGHT update your appraised value so when you hit 22% LTV you'll drop PMI but that's 100% a question to ask your lender, as it probably varies by laws and servicer. Yeah, the comparable places in my area are up ~30-50% in two years. That's why I was wondering if the mortgage provider would send out the appraiser, take the $500, and then say "nope, we don't believe the result." Eventually someone has to look at this poo poo and realize it's impossible. But then again, people have been saying that out here for like 30 years. Sundae fucked around with this message at 21:47 on May 3, 2022 |
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May 3, 2022 21:44
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Yeah this is very straightforward. You should double check and see what other homes with similar bed/bath/sq footage sold for on your block in the last 90 days to be sure (this is what appraisers do) but the total process should take a week and cost you yeah about $500
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May 3, 2022 21:49
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Sundae posted:Yeah, the comparable places in my area are up ~30-50% in two years. That's why I was wondering if the mortgage provider would send out the appraiser, take the $500, and then say "nope, we don't believe the result." Eventually someone has to look at this poo poo and realize it's impossible. But then again, people have been saying that out here for like 30 years. Right which is why ppl are clammoring to get rid of their PMI early NOW instead of waiting a year to "get around to it". once this bubble busts it'll be back to.. welp wait until I''ve paid extra down or until pmi is off based on time. my home is worth more than I paid for it at the start of the pandemic. Redfin/zillow say it's worth 30-50% more than I paid. House values are stupid currently, so hop on that train before it drives out of the station.
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May 3, 2022 22:01
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My mortgage provider (servicer?) sent me an escrow refund check in the mail today. Far be it for me to question free money, but the timing feels weird. They are projecting that I'll pay more into my escrow account over the next 12 months than I'll need in order to pay property taxes and insurance for that time period, so they're...pre-emptively issuing me a refund? And according to the same statement, my monthly mortgage payment isn't actually changing despite the fact that I'll be putting more into escrow this month than I need to? Is this normal?
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May 4, 2022 02:53
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Normal and required once per year. https://www.consumerfinance.gov/rules-policy/regulations/1024/17/#e-1-ii
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May 4, 2022 03:56
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C-Euro posted:My mortgage provider (servicer?) sent me an escrow refund check in the mail today. Far be it for me to question free money, but the timing feels weird. They are projecting that I'll pay more into my escrow account over the next 12 months than I'll need in order to pay property taxes and insurance for that time period, so they're...pre-emptively issuing me a refund? And according to the same statement, my monthly mortgage payment isn't actually changing despite the fact that I'll be putting more into escrow this month than I need to? Not free money. It's YOUR money that you overpaid them. I mean, it's free money in certain states that require escrow accounts to pay interest... but for most of us, it's our money. They have to do an analysis periodically by law, and also by law there are minimums/maximums they need to abide by. I assume this is the first year? It's probably the last time it'll be a refund check. Since taxes and insurance generally go up, not down, your subsequent years are going to be deficits that you'll have to fix. Typically you can either send a lump sum or they'll recalculate your monthly payment and you'll just pay that instead (edit: really it's both, they'll recalculate the monthly to try to avoid a deficit next year, but you can also either roll your current deficit in to that or you can pay it in a lump sum). Remember: your escrow payment isn't your mortgage. It's your mortgage + other things (e.g. property tax and insurance). As long as you have a fixed rate mortgage, that part didn't change. it's the other parts that changed. edit: slightly misread, but to your last point: they probably calculated it correctly, but some pre-payments at closing were higher than they should have been. So those are really what you're getting refunded. But expect that next year your payments will go up to account for higher taxes/insurance. DaveSauce fucked around with this message at 12:24 on May 4, 2022 |
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May 4, 2022 12:19
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If this is your first year and you live somewhere that property taxes are uncapped after a sale, make sure and do the math yourself to ensure their recalculation is accurate or close to what you expect you'll pay in taxes in the next year, or you may get hit with a request to cover a very large escrow shortfall that you may not have been expecting. Year 1 I got a $400 refund, year 2 they wanted me to pay up $3500.
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May 4, 2022 13:13
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Also keep an eye on your property tax statements that you get in the mail. Generally a year prior our county sends updated valuations, then a few months later an updated tax statement eatimate, before you finally get your actual tax statement for the year in March/April. It'll tell you if and how much your taxes will go up, so you'll have at least 6 months or so to plan ahead before your escrow account has to catch up. I generally make up our shortfall in one lump sum when they ask for it, but I believe we can also prepay more to escrow if we want to. Otherwise the monthly increase is generally double to cover both the shortfall and the increased amount necessary going forward.
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May 4, 2022 15:21
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Last year my property tax was low because the house was built on an empty lot but the mortgage company took property taxes as if it was not. I told them to keep it in escrow rather than refund me as at some point there would be a short fall and I would rather have a few grand sitting in escrow for it.
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May 4, 2022 15:28
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That was our "issue" the first year. Our first year escrow was significantly cheaper because we were taxed on an empty lot, but our mortgage person sat down with us and figured what we could expect our payment to be after the county caught up. We just stashed all that extra in the savings acct for the inevitable adjustment.
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May 5, 2022 00:06
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Thanks, it's not a huge refund and we're not hurting for the cash so I might just see if they can keep it in our escrow account for the time being.
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May 5, 2022 17:21
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C-Euro posted:Thanks, it's not a huge refund and we're not hurting for the cash so I might just see if they can keep it in our escrow account for the time being. I understand this perspective, but I would also caution you to be wary of something that is an exception to your servicer's normal processes. Exceptions are where poo poo can get real quick, fast, and in a hurry.
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May 5, 2022 22:41
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C-Euro posted:Thanks, it's not a huge refund and we're not hurting for the cash so I might just see if they can keep it in our escrow account for the time being. Just take the money and put it in a bank account, why would you want escrow to hold your money for you if you don't need them to? Will you find it literally impossible to not spend it?
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May 5, 2022 22:56
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Unless you're in a state that requires interest paid on escrow, take the money and put it somewhere. First, you'll probably need it next year when they sort things out, and second even a lovely bank savings account earns more than escrow. Because escrow earns nothing for the vast majority of people, and with inflation as batshit crazy as it is you'll want to minimize your cash losses.
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May 6, 2022 01:53
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I feel your pains dude. For the first few years in this house, we got escrow overage refunds, followed by an underage notice a few months later saying they had to pay funds on our behalf and there would be an underage payment added on. Now it’s just an underage every year. I wish they’d loving get it straight.
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May 6, 2022 03:45
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There's only so much they can do when they calculate escrow amounts. The issue is that your taxes and insurance go up, but they can't predict that, so they're stuck using historical analysis. So they're almost by definition always going to end up with a shortage.
DaveSauce fucked around with this message at 12:29 on May 6, 2022 |
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May 6, 2022 12:27
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^^ yeah pretty much this. They try and estimate best they can but poo poo gets more expensive year over year which is why we do the below. therobit posted:I feel your pains dude. For the first few years in this house, we got escrow overage refunds, followed by an underage notice a few months later saying they had to pay funds on our behalf and there would be an underage payment added on. Now it’s just an underage every year. I wish they’d loving get it straight. Yeah we took our overage money from year 1, and tossed it into a budget line to cover the underages when they eventually come through so we can just pay em right off.
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May 6, 2022 12:59
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I closed my escrow account because my servicer could not get their poo poo together in terms of actually paying our taxes on time and fixing the delinquencies that they had caused. Took months and a FCPB complaint for them to straighten it out and I sure as hell was not going to just do this again for the second tax bill of the year, I paid it myself. I was ok with escrow even though it's basically giving someone an interest free prepayment which is bad, but if I have to watch it like a hawk to make sure I don't go to prison for tax crimes what even is the point at all.
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May 6, 2022 13:44
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One of my POs added a workshop addition to the side of the detached garage, and for a doorway they just cut a hole through the wall. In doing so they kindly left a 6" tripping hazard of foundation and sill. Am I likely to cause structural problems if I cut it out?
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May 8, 2022 06:21
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DaveSauce posted:There's only so much they can do when they calculate escrow amounts. The issue is that your taxes and insurance go up, but they can't predict that, so they're stuck using historical analysis. So they're almost by definition always going to end up with a shortage. I mean the insurance goes up a little bit over time but in Oregon property tax valuation increases are capped at 3% per year plus whatever local bond levies get voted in, and because of this market value is always higher than TAV which goes up a reliable 3% each year. This is all poo poo they should be able to calculate ahead of time in my state.
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May 8, 2022 06:34
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TerminalSaint posted:One of my POs added a workshop addition to the side of the detached garage, and for a doorway they just cut a hole through the wall. In doing so they kindly left a 6" tripping hazard of foundation and sill. Am I likely to cause structural problems if I cut it out? What does the drainage story look like for that side of the house/building That might be the sill that diverts all the water around the house, rather than through your kitchen. Really hard to tell without more context photos.... but probably not? How are you going to cut that piece flush, or are you just going to attack it with a ball peen hammer for 3 days straight
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May 8, 2022 06:55
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I should have been clearer, it's an interior door from the garage to the workshop, so drainage shouldn't be an issue. My plan is to notch it with a diamond disc on my grinder then try to knock it out what a sledge, and if that doesn't answer I have access to a gas cutoff saw and a jackhammer.
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May 8, 2022 07:02
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Try a masonry chisel and few small taps. It looks like it's barely bonded. Wont that leave a big gap under the door?
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May 8, 2022 12:48
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DaveSauce posted:lmao It was super sketch personal safety wise but the top half was dropped without incident and exactly where intended. It always helps when you have someone pulling a rope to help. Left some branch stubs for the kids to climb on when they’re a little bit bigger assuming I don’t have to take the entire thing out before then. 
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May 8, 2022 12:57
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NomNomNom posted:Try a masonry chisel and few small taps. It looks like it's barely bonded. I'm planning a horizontal cut in hopes of breaking it off level-ish with the floor.
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May 8, 2022 14:54
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You're going to lose the anchor into the foundation wall that's holding your bottom plate down. Depending how many there are (or aren't) in that wall, it may or may not be a problem. You could pull boards/cut access holes on the sides of the door to replace it with anchors on each side of the opening if you really wanted to be sure.
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May 8, 2022 16:38
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My garbage disposal dumped a bunch of water into the base cabinet this morning. The culprit was quickly found: There's a little gasket here that makes it seem like the black pipe was intended to be friction fit in? The trap is drooping and the threaded white piece doesn't have anything to hold down on to snug the two together so I'm not sure how it's supposed to stay in place. I'm surprised it hasn't leaked before in the 4 years we've been here. Is there some other type of connection or glue that's supposed to go here? 
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May 8, 2022 17:29
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The threaded piece screws down and compresses the blue gasket and that compression forms the seal, that's how basically all under sink plumbing works. The gaskets can degrade over time and need replaced but that one doesn't look too bad so I'd just try putting it back together and tightening it down good and seeing how well it works.
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May 8, 2022 17:36
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bird with big dick posted:The threaded piece screws down and compresses the blue gasket and that compression forms the seal, that's how basically all under sink plumbing works. I'd tried that but clearly did something wrong because it didn't work the first time  Anyway, fixed and I love you
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May 8, 2022 17:58
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TerminalSaint posted:One of my POs added a workshop addition to the side of the detached garage, and for a doorway they just cut a hole through the wall. In doing so they kindly left a 6" tripping hazard of foundation and sill. Am I likely to cause structural problems if I cut it out? Be prepared for this to be a pain in the rear end. I'd bet that's a stem wall that goes down into the ground quite a ways so yes you will have to cut it horizontally, and bust it off. Makes for a long cut with the angle grinder and diamond blade cutting both sides of it, with a lot of dust if you don't have the water to suppress it. And if you do, you get to deal with the water. Personally I'd just leave it to trip over.
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May 8, 2022 18:52
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Just make a ramp dude
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May 8, 2022 19:08
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Tiny Timbs posted:Just make a ramp dude This is probably how I’d do it.
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May 8, 2022 19:19
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