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Hey all, I am looking at buying my house and am going back and forth if its a good idea or not. About me: I'm moving to Omaha for my new job. It's guaranteed 10 years with regular pay raises and no health insurance worries, all the stuff that comes with being Active Duty. I qualify for the VA loan and can use that if it will help. A month ago it was like 5.0%, now that's at 5.6%. I'm going back and forth between budget, where I want to live, and type of living. I don't plan on moving for 5+ years. I'm 24 years old and single. I'd like a monthly payment of about a thousand a month, but thats neogotiable if I find something awesome. Income: 56k, but only about 35k is taxable. I'll be making per diem and TDY pay, but no clue on that and would rather not calculate that into the picture. Ideally, I'd like a monthly payment of around a thousand a month. Debt: I have the USAA commissioning loan that was 25k @ 2% - I owe 15k still and am making regular payments (440/month.) I have ~20k in savings so I could pay it off, but I like having the pot o gold incase it's needed. I have been looking at downtown Omaha and have come across this: http://www.militarybyowner.com/listings/tourplus.asp?F_BASE_ID=165&F_STATE=NE&LISTING_ID=96364 http://omaha.craigslist.org/apa/1207291461.html Pros: My college (SJSU) was downtown, and I miss it very much. I was looking to kind of something similar now that I am getting out of hell (Del Rio, TX.) - Walking distance to everything downtown - Nightlife! I am a city boy. - 15 minute commute - Farmers Market 3 blocks away - 2 secured parking spaces included in the price - I've talked to the dude and he mentioned a few times he is flexible on the price. Cons: - HOA fees are 250/month - HOA could suck - Parking is in an attached garage, according to Google Maps street view and a phone call with the owner. - Neighbors could suck and I'm stuck. Then, I have something like this: http://www.militarybyowner.com/listings/tourplus.asp?F_BASE_ID=165&F_STATE=NE&LISTING_ID=97160 or http://www.c21hansen.com/index.php?action=listingview&listingID=56035 Pros: - Papillion was ranked #6 in CNN/Money Magazines best places to live 2007. - Huge house - Garage! I have a motorcycle and like tools (Maybe I sell the motorcycle after seeing what Nebraska winters are like.) - Yard is huge - Commute is ~5 minutes - Can get roommates to help with mortgage payment Cons: - When I show people that, the response is something to the extent of "Your wife and 3 kids will love it!" - WTF am I going to do with a 4/3 bed/3/2 bath? - I have little interest in taking care of a lawn. Like mowing isn't a bad thing, but I'd prefer otherwise. - Snow on the other hand, well I'm from California and have no clue on that. - Property taxes in Nebraska are kind of pricey. Then you know, I could rent which is an option. I was thinking about renting the first condo since he's trying to rent or sell, and then buy if I like. Any input would be awesome. xaarman fucked around with this message at 01:08 on Jun 12, 2009 |
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Jun 8, 2009 18:55
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| # ¿ May 2, 2024 09:14 |
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What is the general consensus of buying down your interest rate? Worth it or a waste of $$?
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Jul 27, 2009 19:34
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Just put a deposit down :> Hasn't set in yet...
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Aug 7, 2009 20:15
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Question: I bought my home with a VA loan. VA loans require an escrow account for property taxes. Bank of America bought my loan, and I loving hate them with a passion. They've screwed up every time the taxes are due. I called about closing the escrow account and managing it on my own, but they said because it is a VA loan, I have to have an escrow account. I asked if I could just keep 0 balance in it and do it myself. They said no, because then I would show an increasing negative balance in my account. Is there anything I can do to manage my own property taxes? Bank of America is a terrible bank and I hope they crumble. Or does anyone have any suggestions at all? Someone to complain to via snail mail? PS: No I don't want to sign up for your Merril Edge investments or your "free" checking, no matter how many ads you put up around your bloated website.
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Jan 12, 2011 11:02
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After an hour on the phone, and getting the guy on the other end to agree with me that my BoA escrow was jacked, he's going to look into it more and call me back. Furthermore, I have a new issue: I called my county treasury department after, who showed a check cleared for ~3700 in taxes on 9/2/10. No other taxes paid for 2009. My BoA online statement says they sent out 3 checks to the treasury: 3/24/10 ~1700 7/16/10 ~1750 8/30/10 ~3700 Basically, BoA is claiming that they sent out 3 checks, the treasury department is claiming they only received one. I think I have literally found the problem with all my issues. Now, my next step is to wait for BoA to call me back - and have them pull up documentation that the first two checks sent out were cashed, because they were sure taken out of my escrow. Transaction numbers, check copies, something. If they can't, I expect that to be credited back into my account. If they can, then I take that information to the county treasury and say "here's proof checks from my account were cashed, find my money." Anyone have any suggestions/comments or dealt with something similar? How long did it take to get resolved?
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Jan 12, 2011 16:26
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xaarman posted:After an hour on the phone, and getting the guy on the other end to agree with me that my BoA escrow was jacked, he's going to look into it more and call me back. Anyone?
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Jan 14, 2011 15:28
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| # ¿ May 2, 2024 09:14 |
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Leperflesh posted:I've never heard of an escrow company failing to make escrow payments and then lying about it. I doubt many people here have experience with such a thing. Seems like you're on the right track, though: they have to have proof somewhere that they actually made those payments, and if they don't either prove it or refund the money taken from your account, you need to talk to a lawyer. Each of the checks were returned to BoA (but not listed on the tax information page,) so they credited it back to my account. Now I had a ton of money left over after taxes were due, so they issued me a refund check, which came from said escrow account. When I originally called and asked why they were sending me a check, they said it was standard practice to refund extra money not needed for that tax year. What I failed to do was actually call my county to verify that my taxes were paid (and I am going to start doing from here on out.) Moving on, the country treasurer then sent BoA a bill for my taxes plus interest, which BoA paid. However, it put my escrow account in the hole because of the refund check that was sent out. Next problem I had was I paid the interest on them screwing up. BoA countered with they only paid the bill that was sent to them. Fair enough - I can't argue that. When I get back home (I'm away for work) I can go to the county treasurers office and get a sheet a sheet that says what the taxes were and what the interest was from lack of payment, and they will reimburse me. It's only $139.XX, a far cry from the ~$3700 I was dealing with before, so I'm debating if I should even press it. This has been a lovely 5 month battle. Finally, they removed a stupid "reserve fund" 50 dollar build up that they had tacked on to my mortgage for no apparent reason. xaarman fucked around with this message at 15:00 on Jan 15, 2011 |
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Jan 15, 2011 14:28
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