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Need to vent. Mortgage frustrations.

92 Green YJ said:
The house has heat. Several methods actually. Wood fired or oil fired baseboard heat all thru the house with multiple zone control, wood stove in the living room, two heat pump systems. We will survive.
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I was thinking more about going outside for ~10 minutes, like to grill carne asada - probably no longer a barefoot deal.

Any idea what your heating costs will be for that size house in below-freezing weather?
We just moved to over 2x the square footage, and costs doubled as expected.
 
ExWrench said:
I was thinking more about going outside for ~10 minutes, like to grill carne asada - probably no longer a barefoot deal.

Any idea what your heating costs will be for that size house in below-freezing weather?
We just moved to over 2x the square footage, and costs doubled as expected.
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Well the house has 2 oil tanks in the basement. Total capacity is 1200 gallons between the two. Seems most people there fill the tanks in the summer when the oil prices are low in the $2 per gallon range. So figure worst case scenario of totally empty tanks, $2400 to fill them both to capacity. Broken out over a year works out to $200 a month, but won’t be running late spring thru early fall most likely. Also with the way it is zoned we can heat only the areas we are in.

also in my prior experiences with multi level houses, you don’t need to run much heat in the upstairs areas as it is always warmed up than down. Wood stove will also be used a fair bit opposed to the oil system as that heats the living room, kitchen, dining room area where we tend to spend most of our family time now. From checking Craigslist now a cord of firewood is about $125 delivered. But again this is peak season. Would be cheaper in the summer and I have 18 wooded acres which will provide some free firewood with deadfall and such as well. I also have the benefit of being on well and septic so not having a water or wastewater bill will help offset the new heating costs.
 
This is like a guy with a felony rap sheet a mile long who finally found religion and reformed his life on his last trip to the slammer bitching that his record makes it hard for him to get a real job.

It's, really, really, really hard for any sane person to have sympathy for people who find it hard to move out of CA (or a bunch of other shithole states for that matter). Sure there are some good people who want out and probably deserve out but they are a tiny minority compared to the millions of subhuman filth who will do nothing but sink other states if they get out.
 
92 Green YJ said:
Well the house has 2 oil tanks in the basement. Total capacity is 1200 gallons between the two. Seems most people there fill the tanks in the summer when the oil prices are low in the $2 per gallon range. So figure worst case scenario of totally empty tanks, $2400 to fill them both to capacity. Broken out over a year works out to $200 a month, but won’t be running late spring thru early fall most likely. Also with the way it is zoned we can heat only the areas we are in.

also in my prior experiences with multi level houses, you don’t need to run much heat in the upstairs areas as it is always warmed up than down. Wood stove will also be used a fair bit opposed to the oil system as that heats the living room, kitchen, dining room area where we tend to spend most of our family time now. From checking Craigslist now a cord of firewood is about $125 delivered. But again this is peak season. Would be cheaper in the summer and I have 18 wooded acres which will provide some free firewood with deadfall and such as well. I also have the benefit of being on well and septic so not having a water or wastewater bill will help offset the new heating costs.
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Um,i hate to tell you this, but heating the first floor doesn't exactly mean the second is going to get warm enough from that.
I know this from experience. We heat our basement and first floor with in floor from the boiler. Second floor is done from the boiler through the forced air furnace. That furnace still runs quite a bit, even with the first floor temp on 71°.
I think it all depends on a few things. I insulated with r-19 between floors, didn't do fuck all for sound(the main reason i did it) and i think this is the biggest reason we don't get heat up there from the first. The second reason imo is because we only have a stairwell shaft. There's no open balcony or anything for large volumes of air up transfer heat.
Just want to let you know, as it might be a bit of disappointment when you're running the heat upstairs as much as down.

Wood heat will be your best bang for your buck in a house that big. Better get your flannel and chainsaw ready!

Anyway, the house is bad ass! I will come live with you if you need a lazy groundskeeper:lmao:
 
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92 Green YJ said:
I’m not too concerned about winter. According to the massive amount of paperwork required on the one guy that’s mentioned the ARM, they already want to see all of that crap for the ARM. And they want an explanation of each large deposit into the accounts to know where it came from along with a whole bunch of other crap. Two years of full tax returns with every single page which in our case is about 50 pages each year, etc.

the property is in Mariaville which is basically right smack dab between Bangor and Ellsworth. It’s a 6 bed, 5 bath, 5,500 sq ft home with an attached 2 car barn with a workshop on the second level on 24 acres.
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Sell your investments and buy it outright. Having just investment income can be scary to a bank because if the stocks go south they’ve given a loan to a guy who can’t pay the bill. Yes I know it’s the same as losing your job and not paying.
nice house. Screw the arm. One large deposit to buy the house cash offer. Bye bye mortgage hassles and smaller house payment so you can start investing again.
 
Like others said, buy it outright and fuck mortgages, get a low stress easy job to build the investment money back up.

Pimp house btw!! Maine's a cool place, I always thought it was an expensive liberal hell hole, or is that just what people told me so that I wouldn't look there?
 
rattlewagon said:
Wicked nice house. Wheelable land with it? Was a balmy 7* out this am in Central VT. We heat from october to april usually.

Comon over and lets go wheelin.
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The Bangor area is typical coastal plain with glacial rubble so it won't be wheeling like in the hills you're familiar with. The land will lend itself better to rally, short course and similar uses than to rock crawling but he'll probably have a rock garden somewhere on the property.
 
Slander said:
Like others said, buy it outright and fuck mortgages, get a low stress easy job to build the investment money back up.

Pimp house btw!! Maine's a cool place, I always thought it was an expensive liberal hell hole, or is that just what people told me so that I wouldn't look there?
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The expensive liberal hellhole is creeping north from Boston and has infested anywhere within 30min of an interstate highway as far north as Portland as of the last time I lived in Maine (2017).

People like OP move in with good intentions but they don't realize they're poisoned in the head and they inadvertently bring their acceptance of liberal hellhole type stuff with them. Importing "good" people who have been normalized to shithole states is a bigger threat to free states than the people who actually seek to destroy the free states because the latter group would be marginalized without the former.
 
the conservative atheist said:
Don't forget to cut up those credit cards you earn rewards on and pay off every month.
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people love to slag Dave Ramsey, but he knows one thing--> most people who are in a lot of credit card debt THOUGHT they could handle credit cards. Most people staring down 20K in credit card debt hop cards and rewards and all that stuff and just go farther and farther in debt.

I've helped several friends out of bad credit situatons and for as rigid as Dave Ramsey is, I got my kids his book on kids and money and we all read it together. My kids are in their 20's, no debt (student or otherwise) and all on their way in part by avoiding the trap of credit.

I have a smallish mortgage (less than half ltv) and two of three properties paid off. No other debt.

If you are capable of and have the discipline for and actually make enough money for it to even matter, great, but if you look at the statistics, most people suck at it... the rewards and all that stuff are shiny objectss for mostly the wrong people...
 
arse_sidewards said:
The expensive liberal hellhole is creeping north from Boston and has infested anywhere within 30min of an interstate highway as far north as Portland as of the last time I lived in Maine (2017).

People like OP move in with good intentions but they don't realize they're poisoned in the head and they inadvertently bring their acceptance of liberal hellhole type stuff with them. Importing "good" people who have been normalized to shithole states is a bigger threat to free states than the people who actually seek to destroy the free states because the latter group would be marginalized without the former.
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Quoted for truth. When city people move to the country, they always fuck it up.
 
rattlewagon said:
Wicked nice house. Wheelable land with it? Was a balmy 7* out this am in Central VT. We heat from october to april usually.

Comon over and lets go wheelin.
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About 18 of the 26 acres is forested at present. I’m planning to go out and cut myself a couple of Jeep trails thru the woods to play around on. Turns out the property owner is retaining an additional 34 acres for now. I have to,d the agent to inform the seller that if he ever decides he wants to unload those additional acres to ask us first. That would bring us to 60 acres In total.

I’ll take you up on that wheeling invite when we get out there and get settled in.
 
arse_sidewards said:
The expensive liberal hellhole is creeping north from Boston and has infested anywhere within 30min of an interstate highway as far north as Portland as of the last time I lived in Maine (2017).

People like OP move in with good intentions but they don't realize they're poisoned in the head and they inadvertently bring their acceptance of liberal hellhole type stuff with them. Importing "good" people who have been normalized to shithole states is a bigger threat to free states than the people who actually seek to destroy the free states because the latter group would be marginalized without the former.
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I should point out that this move is a bit of a return to my roots. Born and raised in upstate New York on a 32 acre horse farm where we bred race horses. As a teen we moved to a 28 acre farm in Ohio. I am VERY far from liberal and can’t stand the liberal nuthouse that is the people’s republic of Kommiefornia. I own guns, can’t wait to get out there and actually be able to hunt again. I haven’t had fresh killed venison in ages. I am a good person moving my family to a more free state to give my kids a better life. Montana was my first choice but the wife shot it down.
 
92 Green YJ said:
About 18 of the 26 acres is forested at present. I’m planning to go out and cut myself a couple of Jeep trails thru the woods to play around on. Turns out the property owner is retaining an additional 34 acres for now. I have to,d the agent to inform the seller that if he ever decides he wants to unload those additional acres to ask us first. That would bring us to 60 acres In total.

I’ll take you up on that wheeling invite when we get out there and get settled in.
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Sounds Rad! Mariaville is definitely "up there" for New England but there is a strong wheeling community in southern New England. Check out Main4x4 and NEA4WD for starters.
 
[486 said:
;n305072]

I'm not the smartest financial guy but I just can't get right with the thought of borrowing money in order to preserve investments/savings

if you could make money on investments by borrowing money, wouldn't a bunch of people (who investing is their life) already be doing it?
Seems like there wouldn't be an upper limit on the amount of instantaneous wealth you could generate, which instantly puts it in the same category as perpetual motion machines.
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That's how the rich stay rich. Take a mortgage on a 30 million $ house at 3%, let your 30 million $ keep making you 10%. You're 7% ahead while keeping your money.


With interest rates right now I've been doing loans rather than cash, and keeping a majority of my cash invested. Last quarter I saw a 12% return, while my loans were 2-2.5%.:flipoff2:
 
OT

What you're seeing is the result of the Dodd-Frank bill to save us from Wall Street written after the financial crisis. As usual it fucks the responsible and did nothing to punish the Wall Street fucks that actually caused it. When I bought my house we put 24% down, had 60% equity in a rental house, we both had FICO's over 800, and a top 10% income, BUT, because I hadn't been on my job for 2 years, I had to take PMI. Fuckers. So I took a 30 year and then later in the year refried it on a 15, and later at 2% on a 10. So I paid loan fees 3x. Fuckers.
 
Roc Doc said:
OT

What you're seeing is the result of the Dodd-Frank bill to save us from Wall Street written after the financial crisis. As usual it fucks the responsible and did nothing to punish the Wall Street fucks that actually caused it. When I bought my house we put 24% down, had 60% equity in a rental house, we both had FICO's over 800, and a top 10% income, BUT, because I hadn't been on my job for 2 years, I had to take PMI. Fuckers. So I took a 30 year and then later in the year refried it on a 15, and later at 2% on a 10. So I paid loan fees 3x. Fuckers.
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This makes sense and this is really what I am bitching about. Let’s punish the financially responsible while writing bad loans for people that can’t afford them.

definitely leaning towards just buying the property for cash and saying the hell with it at this point. Would be really nice to not have a mortgage payment.
 
92 Green YJ said:
This makes sense and this is really what I am bitching about. Let’s punish the financially responsible while writing bad loans for people that can’t afford them.

definitely leaning towards just buying the property for cash and saying the hell with it at this point. Would be really nice to not have a mortgage payment.
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That's what I would do. I'm going to pay on this mortgage for another 5 years then pay it off with the money I netted from the Vegas house, (currently in a Schwab account doing very well).

I got laid off twice in two years during the financial crisis and still paid all my fucking bills. I wish I had paid more attention when Dodd-Frank was being written.
 
rockota said:
elaborate
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Anyone can do a legal mortgage, regardless of funding.

My family trust owns the mortgage on my house. I pay the trust interest that is deductible for me...

My trust takes losses that hide the mortgage interest gains. I borrowed money at a lesser interest rate and dumped it into the trust...
 
Provience said:
there is a great many reasons why no debt and a cash-only full ownership lifestyle is significantly better.

exactly zero of them are "good financial sense", but that doesn't mean they aren't perfectly valid.

I look forward to being a zero debt cash only type of person, but i also aspire to being a poor rancher so it isn't exactly a life goal for everybody :laughing:
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I did better getting a small mortgage again , and having more deductions for my self employment, thanks to my accountant. At least here in Canada it made sense to have one again. Just gets paid biweekly and accelerated with a lump sum payment every year. Use mortgage money to make more money.
 
IBBhouseSaturn.jpg


Beetlejuice, Beetlejuice, Beetlejuice!

Are you bringing a fat guy to redecorate?


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Wizzle said:
Where at upstate? Asking from Saratoga Springs.

I can relate to people assuming all of us from NY are all liberals, it’s like they hear NY and think we’re all city guidos lol.
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Lol. Right? I grew up in Austerlitz. Tiny little town about 45 minutes south of Albany close to the Mass border
 
Grendel said:
Anyone can do a legal mortgage, regardless of funding.

My family trust owns the mortgage on my house. I pay the trust interest that is deductible for me...

My trust takes losses that hide the mortgage interest gains. I borrowed money at a lesser interest rate and dumped it into the trust...
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So if you're paying yourself interest and deducting it on your taxes why aren't you charging yourself 20% interest?
 
Wizzle said:
Where at upstate? Asking from Saratoga Springs.

I can relate to people assuming all of us from NY are all liberals, it’s like they hear NY and think we’re all city guidos lol.
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If you’re from the city of Saratoga Springs you fly a Biden flag and drive a Subaru! If your from the outskirts your ok. Yes, I’m local as well.
 
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