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TOPIC: Bankruptcy Forever

Credit 6 months 2 weeks ago #1

  • Wanderer
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A thought ... as FICO Scores like a well rounded financial back ground the basic areas of Mortgages, Installment Loans and Bank Credit (Cards) come to mind. You added an important piece to the credit equation and it brought up your scores and the interest of perspective lenders when they run their preliminary screenings at the credit bureaus.
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Credit 6 months 2 weeks ago #2

  • FrankN
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Also now that we have a home, I get more credit card proposals than I ever have, it is strange.

Did this happen to anyone else?
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Credit 9 months 3 weeks ago #3

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Thank you very much. We are very happy with it.
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Credit 10 months 6 days ago #4

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I agree that changing to a smaller home might be a pain that you have to endure, but in the long run, you will be saving on bills, yard maintenance, house cleaning (time), and more. Congratulations!
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Credit 10 months 1 week ago #5

  • JGibbs
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FrankN wrote:

My wife and I also bought a smaller place for now as we have no kids. We looked for location as that was more important to us in our lives today.
That sounds smart to me. There's less yard to tend to and less house to clean at a time when you're most busy with your careers. I always cringe when the couple on HGTV's House Hunters buys a huge home that is affordable to them because it's far away from the city where they work. That long commute would get old quickly.
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Credit 10 months 1 week ago #6

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FrankN wrote:
Lexie wrote:
Lot size and square footage also plays an important role in assessment. We downsized to about 1,000 square feet but lot size dictated a small two story home with a postage stamp yard. Living on the coast means higher taxes but since we are small, it's nothing we can't handle.

My wife and I also bought a smaller place for now as we have no kids. We looked for location as that was more important to us in our lives today.

That's great FRANKN! After feeding 10 people at my "small" house this past Thanksgiving, I almost wished my big house back. Almost! But that's only one time a year and we can make it work. The rest of the time it's just he and me. :)
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Credit 10 months 2 weeks ago #7

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Lexie wrote:
Lot size and square footage also plays an important role in assessment. We downsized to about 1,000 square feet but lot size dictated a small two story home with a postage stamp yard. Living on the coast means higher taxes but since we are small, it's nothing we can't handle.

My wife and I also bought a smaller place for now as we have no kids. We looked for location as that was more important to us in our lives today.
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Credit 10 months 2 weeks ago #8

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Lot size and square footage also plays an important role in assessment. We downsized to about 1,000 square feet but lot size dictated a small two story home with a postage stamp yard. Living on the coast means higher taxes but since we are small, it's nothing we can't handle.
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Credit 10 months 2 weeks ago #9

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JGibbs wrote:
Moneyes wrote:
Is that why curb appeal is so important? :)

The only times when I know when there is a shortage of appraisers is when there is a sharp, sudden spike in homes going up for sale or foreclosed on.
Maybe it's a small town thing? Living near water, any type of water mind you, adds thousands to your home's value. Living on a dead end street did too at one point, but I believe it's changed since then. Things were so out of whack that some fancy pants firm from NYC had to do an audit and readjust the property values.
I don't own a home, but I'm aware of the fees involved. The amount it costs to chop down a tree shocked me - about 1k not counting stump removal.

Curb appeal is very important in real estate. So is location.
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Credit 10 months 2 weeks ago #10

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Moneyes wrote:
Is that why curb appeal is so important? :)

The only times when I know when there is a shortage of appraisers is when there is a sharp, sudden spike in homes going up for sale or foreclosed on.
Maybe it's a small town thing? Living near water, any type of water mind you, adds thousands to your home's value. Living on a dead end street did too at one point, but I believe it's changed since then. Things were so out of whack that some fancy pants firm from NYC had to do an audit and readjust the property values.
I don't own a home, but I'm aware of the fees involved. The amount it costs to chop down a tree shocked me - about 1k not counting stump removal.
Last Edit: 10 months 2 weeks ago by JGibbs.
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Credit 10 months 3 weeks ago #11

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JGibbs wrote:
I It's a small town, so the Property Assessor's minions pretty much just drive by the homes and list an estimate based off that first impression. There just aren't enough workers to do a thorough check and their estimations are usually too high.FrankN wrote:
Thanks so much, I am very happy and am lucky to be in this opportunity. It is fun to own a home, but expensive!
Which expense has surprised you the most?

Is that why curb appeal is so important? :)

The only times when I know when there is a shortage of appraisers is when there is a sharp, sudden spike in homes going up for sale or foreclosed on.
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Credit 10 months 3 weeks ago #12

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Interesting methods of Tax Property Appraisals! Sure would not want them to verify by an on-site inspection. The county I live in got tired of the local governmental units employing independent appraisers that often did not inspect the properties and favored certain names in small towns. What did the county do, took over all appraising in the county and is in the process of visiting all properties. My community was completely re-appraised in 2017 and WOW what a difference. Amazing what outside county appraisers could do to introduce proper appraisal techniques and fairness!!! The favorites in town met equal values for equal properties. AMAZING! As a follow-up, my property is now similar to others of equal value and my proposed taxes pay 2018 dropped by over $350.
Last Edit: 10 months 1 week ago by Wanderer.
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Credit 10 months 3 weeks ago #13

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In my hometown, it's well known that challenging your property assessment will usually lead to a lower estimate and thus,a lower tax bill. It's a small town, so the Property Assessor's minions pretty much just drive by the homes and list an estimate based off that first impression. There just aren't enough workers to do a thorough check and their estimations are usually too high.
FrankN wrote:
Thanks so much, I am very happy and am lucky to be in this opportunity. It is fun to own a home, but expensive!
Which expense has surprised you the most?
Last Edit: 10 months 3 weeks ago by JGibbs.
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Credit 10 months 4 weeks ago #14

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I missed this post somewhere along the way FrankN. Congratulations on your new home. I'll bet you are all settled in by now. Moving is a pain. I remember helping my mom move one summer, my son move the next summer and I moved the next summer. Thankfully we are in our "forever" home and will never have to move again. Enjoy your new digs!
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Credit 1 year 1 month ago #15

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Joker wrote:
Congratulations on your home. I went through this process a few years ago and I was astonished how much time and effort it took just to get all the paperwork they requested. Then when you sign, there are so many places and things you have to agree to, one feels like they are drowning in information. Hope all goes well with the new house.

Agreed 100% I fell like I had to give my complete financial history since I was born! Glad to get that process out of the way.
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