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Getting Old

I know we all heard the stories about aging, aging gracefully. Fifties the new forties, sixties the new fifties and seventies the new sixties. I’m here to tell you its all bullshit! I just turned seventy, my mind thinks I’m fifty, until I get down on the ground with out having a plan on how to get up.

Things happen gradually, when someone asks you if you can remember your childhood phone number, you proudly recite it with that smug look. However, you can’t remember the password you created yesterday. Another sign of getting old is when you think you lost your glasses, and their on top of your head. Can’t find your phone, you borrow some else’s to call your number and soon realize you can’t remember your cell number, but you remember you childhood phone number which isn’t doing you much good right now. You hope someone calls your cell. Then you remember its on mute because of too many telemarketers.

Walking into a room and forgetting why you walked into the room in the first place.

Its not all dismal, you try to save money and clip coupons, which you never use. You buy BOGOs and forget you have enough paper towels in the garage to clean up an oil spill in the ocean.

My all time favorite is watching a movie I have already seen. Half way through the movie it hits me, I’ve seen this movie before, but can’t remember the ending. So, I get to watch it all over again, just like a new movie. You walk past a bathroom and figure, what the hell, I might as well go while I’m here.

My tip on investing when you get old, don’t buy green bananas.

The difference between a deed-in-lieu of foreclosure and a foreclosure centers on the process and implications for the homeowner and the lender:

Foreclosure:

• Process: Foreclosure is a legal process initiated by the lender when the homeowner fails to make mortgage payments. The lender takes legal action to seize the home to recover the money owed.
• Impact on Credit: Foreclosure has a significant negative impact on the homeowner’s credit score and can remain on the credit report for up to seven years.
• Public Auction: Typically, the foreclosed property is sold at a public auction, and the lender may still pursue a deficiency judgment if the sale price does not cover the mortgage balance owed.
• Legal Proceedings: Involves court intervention, especially in judicial foreclosure states, where the process can be lengthy and costly.

Deed-in-Lieu of Foreclosure:

• Process: A deed-in-lieu of foreclosure is a voluntary process initiated by the homeowner who cannot make mortgage payments. The homeowner hands over the deed to the property to the lender to satisfy the loan, thereby avoiding foreclosure.
• Impact on Credit: While it still negatively affects credit scores, a deed-in-lieu may be slightly less damaging than a foreclosure. It also shows on a credit report for up to seven years but is often viewed slightly more favorably since it demonstrates proactive management of the default.
• Resolution: This process is generally quicker and less costly than foreclosure. It also avoids the public auction aspect of foreclosures.
• Deficiency Judgment: Typically, a deed-in-lieu agreement includes a provision that forgives any deficiency between the home’s value and the amount owed, though this needs to be negotiated with the lender.

Choosing Between Them:

• Homeowner’s Situation: The choice between pursuing a deed-in-lieu of foreclosure versus undergoing a foreclosure often depends on the homeowner’s specific circumstances, including their ability to negotiate with the lender and the lender’s willingness to accept the deed-in-lieu.
• Lender’s Discretion: Not all lenders will accept a deed-in-lieu of foreclosure, especially if there are other liens against the property, as these complicate the transfer of a clear title.

Both options are ways for borrowers to address financial hardship and impending foreclosure, but they carry different implications for the time required, impact on credit health, and potential financial obligations following the event. Homeowners facing such decisions may benefit from consulting with a financial advisor or a legal professional to explore the best course of action based on their personal situation and the specific terms of their mortgage agreement.

In this forum, we will discuss and cover condotels. What are condotels? What makes a condominium unit a condo hotel or condotel? A condotel is a type of real estate investment that combines condominium-style private ownership with hotel-style management. Here’s how they typically operate and some factors to consider if you’re thinking about investing in one:

What is a Condotel?

• Definition: A condotel is a condominium that is operated as a hotel with a registration desk, cleaning service, and more. Owners can use their unit as a private vacation home and also rent it out as a hotel room when they are not using it.
• Management: The hotel management handles renting out the units, maintaining common areas, and providing hotel-like amenities such as housekeeping, room service, and concierge services.

Features of Condotels

• Amenities: Like traditional hotels, condotels offer amenities such as pools, fitness centers, spas, and restaurants.
• Flexibility: Owners have the flexibility to stay in their unit when it’s available. When they are not using it, the unit can generate income by being rented out.
• Location: Condotels are often located in popular tourist destinations like beach fronts, downtown areas, or near major attractions, enhancing their appeal to renters.

Financial and Legal Considerations

• Financing: Getting a mortgage for a condotel can be more challenging than for a typical condominium. Many lenders view them as riskier investments, which can lead to higher down payment requirements and interest rates.
• Income Potential: The income from renting out a condotel can help offset the cost of ownership. However, revenue can fluctuate based on tourism trends, management performance, and competition from other hotels and rentals.
• Regulations: Ownership and rental rules can vary significantly depending on local laws and the specific condotel’s policies. Potential buyers should review these regulations carefully.

Investment Considerations

• Market Fluctuations: The profitability of condotels can be sensitive to the broader tourism industry, which may be impacted by economic downturns, natural disasters, or other factors reducing travel.
• Management Fees: Owners typically pay management fees for the operational aspects of the condotel, which can reduce the net income from rental earnings.
• Resale Potential: Reselling a condotel unit can sometimes be more challenging than selling a traditional condo due to the niche market and dependency on the tourism sector.

If you’re considering investing in a condotel, it’s essential to conduct thorough research and possibly consult with real estate professionals who have experience with this type of property. They can offer insights into the local market, potential returns on investment, and any legal complexities involved in owning a condotel.

Opening business cards is not difficult. Here’s a step by step guide to Opening a business credit card.

https://youtu.be/u9qE-mVShvo?si=7TlS9lLPKbVhP99M

youtu.be

#1 Trick to Get Business Credit Cards WITHOUT a Business

Identity thieves love tax season. Protect yourself. Go to my sponsor https://aura.com/markreese to get a 14-day free trial. Click “Show More” to see Ad Disc...

In my opinion, investing in a college education is a total waste of money and time unless you are going to college for a vocational education like plumbing, electrical, mechanic, engineering, computer, technology, or other job training higher education. Of course this doesn’t include going to college to become a doctor, nurse, dentist, teacher, lawyer, architect, mathematician, physicist, or other vocational education. Joining the military is the best education in the world or a junior college to train for a career. Look at this informative video from John Stossel about the College Scam.

https://rumble.com/v4y7h66-the-college-scam.html

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The College Scam

Congratulations to the new college grads…. But Economist Bryan Caplan says FEWER people should go to college. Here’s why:

I have a three car Attached Garage. Our dream was buying a large steel building to store classic cars I love to buy. I have room to build but seems like a lot of work. Building permits, concrete, electrical work, HVAC for climate control, etc. I will get this done. Garage space is what deterring me from buying some reasonably priced classic and sports cars. Here a great video clip from VINWIKI

https://www.facebook.com/share/r/HTxu1rVh1qyz2pn7/?mibextid=D5vuiz

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The Biggest Struggle of Car Guys: Garage Issues | The Biggest Struggle of Car Guys: Garage Issues | By VINwikiFacebook

The Biggest Struggle of Car Guys: Garage Issues

What is the lowest credit scores you can have to qualify for NON-QM JUMBO LOANS?

I am looking at Tiny homes and financing. I currently have a few rv parks that i am looking to put in some tiny homes, eventually i would like to make a community of these maybe have up to 40. The homes will be on a permanent foundation with county water and central sewage. I was wondering if anyone has financed these type of projects or tiny homes in general. I will upload a few pictures but am working with an architect for the site plan. I have sites mainly in oklahoma but also in texas and south carolina.

I drink and I smoke!

Hey, I bet you just got a visual of me! Ha! But what I mean is, I drink great wine and I smoke food on a smoker. What? Let me explain.

I live in Northern California and LOVE eating outside during the spring, summer, and fall. A few years ago, my husband, a licensed general contractor, built me an outdoor kitchen. My love for this kitchen is deep! However, the grill he installed scared the living daylights out of me. I was literally afraid to use it, and my husband, busy with work, didn’t have time to grill. So, I found a school—yes, a BBQ school. We signed up for classes and spent a weekend in San Francisco, CA, learning all about grilling, using that intimidating grill, and getting creative with our summer meals. Then, there was a segment on smoking. Hmm, I thought I wouldn’t want to do that, but since it was part of the course, we gladly learned about it.

This is where things took a turn—I became OBSESSED with smoking food. I mean, really obsessed! So guess what? We came back home and bought a Traeger smoker! And guess what I do more than grill now? Yes, you guessed it—I smoke!

As a sommelier, I love pairing wines with food, and I find it super fun and interesting to pair smoked foods with wine. Does anyone else smoke? Let’s talk!

West Virginia Senator Joe Manchin leaves the Democrat Party one day after Donald Trump’s guilty verdict on 34 felony charges. It’s coming faster than expected, folks. Donald Trump’s charges, trial, and guilty verdict is backfiring on the Democrats. I expected Trump guilty verdict backfiring on the Democrats but not this fast. More political chaos is expected in the coming days a weeks. Fatman Alvin Bragg is gleaming with joy saying he did his job. Fatso Alvin Bragg has been vowing to bury Former President Donald Trump.

Global warming, I never really bought into global warming and not all scientists agree of its existence. We are newcomers to the earth, things have been spinning around for years, warming up and icing up, hence The Ice Age. Kinda of like Florida, the people who have made this state home know how to adapt to the environment. Newcomers to Florida feel the wrath of summer. Currently, its the beginning of June and May has shown four days over 90 degrees, all in the last two weeks. How does a newcomer survive the heat? Personally, I don’t care if they survive, you didn’t plan ahead. More people have moved to the Tampa area in the past year then ever before. Housing values have doubled, everything is expensive. Some say its the next Miami. However, there are no beaches in Tampa and very little shore space in the county of Hillsborough. You have to travel to two of the most congested cities in Florida to reach the beaches. Clearwater Beach and St. Pete Beach are absolute beautiful and crowded. Parking is a nightmare, if you can find a spot.

No I am not going to be hard-hearted on new arrivals, I wasn’t born here, I am a transplant. But I will give some hints on how to survive the hellish heat. First thing, get a pool or have access to one, that’s a no-brained. Secondly when parking your car always park under a tree. If you don’t when to enter your car be prepared to enter a pizza oven at 900 degrees! You will melt, especially if own a black car. Need more tips, air-conditioning you will need one and a good repairman. Odds are when the temperature hits 90 degrees, your air conditioner will tank, it will be on a Friday during a three day weekend. Two questions I always ask when buying a house, are the age of the roof and the air conditioner. Buy a generator for when the power goes out and the air conditioner isn’t working.

The snowbirds from Canada have figured it out they arrive in October and leave in May, why? Hurricane season is from June to November. If you haven’t experienced a hurricane in Florida you will when you move here. By the way it rains most days. We have roaches the size of mice and alligators roaming everywhere. The humidity is awful. Lizards jump up and greet you and the mosquitoes can’t wait until dusk to suck a pint or two of blood. All in all Florida is my home and I love living here, once I figured it out.

Senator John Kennedy (R-LA) takes the Senate Floor to address the rampant widespread sexual harassment at the FDIC. FROM racial comments to sexual innuendos, to high ranking FDIC officials visiting brothels, the FDIC is totally out of control. Self enforcement of the agency is not possible because the abusive behavior is from top on down. Recent reports have highlighted serious issues of sexual harassment and misconduct at the Federal Deposit Insurance Corporation (FDIC). An independent review conducted by the law firm Cleary Gottlieb, commissioned by the FDIC’s Special Review Committee, revealed pervasive sexual harassment, discrimination, and bullying within the agency. The investigation, which included accounts from over 500 current and former employees, found that these behaviors were tolerated by senior leaders for years, with complaints often met with retaliation instead of being properly addressed.

The report criticized the FDIC’s “patriarchal, insular, and risk-averse culture,” stating that management’s response to allegations of misconduct was “insufficient and ineffective.” It detailed incidents of senior executives pursuing romantic relationships with subordinates and other inappropriate behaviors. Despite these findings, the report stopped short of recommending the removal of FDIC Chair Martin Gruenberg, although it questioned his ability to lead the necessary cultural transformation.

In response to the findings, Gruenberg expressed his remorse and committed to implementing the report’s recommendations, which include establishing an anonymous hotline for reporting misconduct, developing a more transparent process for handling complaints, and ensuring better support for victims.

The situation has sparked calls from both Republican and Democratic lawmakers for significant changes at the FDIC, with some demanding Gruenberg’s resignation. This controversy not only highlights the immediate need for reform within the FDIC but also raises broader concerns about leadership and accountability in government agencies.

For more detailed information, you can refer to sources like Politico, the FDIC’s official report, and Reuters.

See the video clip of Senator John Kennedy.

https://youtu.be/zf3D3vq7bGQ?si=7OwNHPb7tGF7dYg1

• This discussion was modified 1 year ago by  Gustan Cho.

My granddaughter

One lazy Saturday afternoon, I decided to catch up on some bills. I retrieved my checkbook, bills, and stamps to pay the bills. There were only four checks to write, so I thought I would just sit in the recliner, watch the ball game, and write the checks. My granddaughter, as usual on Saturdays, called her grandmother, my wife. They did ‘face time’ where both could view each other while talking. I wasn’t really paying attention to their conversation; my concentration was on math, not my best subject in school. I could hear them talking. My ears really perked up when I heard Melody say, Do you want to meet my boyfriend? She is only five years old! I know things move differently in Mississippi, so I’m not one to judge; however, she is only five years old! Nono, as my wife is affectionately known, started asking questions. The first question posed was, “How old are you, Kenny?” This deep voice can be heard over the phone—too deep for a five-year-old boy. “I’m not too old.” Immediately, my grandpa’s antennas went up; this kid won’t answer; I don’t like him. The next question my wife asked was, “What do you do for a living?’ Again, he did not answer. I’m thinking, “Who the fuck is this kid? Why is my wife having this conversation with this liar? Melody is only five years old! My wife asked the boy, ‘What’s your name?’ He answered Kenny, I now thought we were finally getting some where. He spoke monosyllabically—not many big words—and I began to think this kid was just full of shit. I continue to write the bills and watch the game, still not paying full attention to the phone conversation. Kenny spoke up and said, “Melody wants me to talk to Papi; that’s me. My bride hands me the phone, and I mime to her, “What the fuck are you doing? I don’t want to talk to this little shit.” Melody’s voice is heard: “Papi, talk to Kenny.” I’m resisting this; I don’t want to talk to this kid! Finally, I conceded to the powers of my granddaughter. I pick up the phone and meet Kenny; he’s a fucking doll! Ken from the Barbie set appeared, voiced by my five-year-old granddaughter. I am still laughing!

The Biden Administration and supporters of Joe Biden such as the mainstream media are trying to brain wash Americans that the economy is in great 👍 shape and Joe Biden is the president who fixed inflation and the economy. The Biden Administration and Biden supporters and the mainstream media announced vvictory soft landing on inflation and Joe Biden Administration avoided a major Great Recession. This is total bullshit lies after lies. Joe Biden is clueless and his administration is full of idiots that don’t know what they are doing. Don’t fall in to buy now pay later technique that Democrats are pushing. We are in great period of uncertainty. Inflation is soaring out of control. Real unemployment numbers are through the roof. Data released by the Biden Administration are total lies. There are no jobs created. Job numbers reported are part time jobs or temporary jobs. Treasury Secretary Janet Yellen, Fed Chairman Jerome Powell, and Joe biden are all incompetent cheating lying worthless political hacks. Read this video clip

https://youtu.be/eEB_YdElBS4?si=82f5kB0hEs4rH66C

With all the political chaos going on among the far left with transporting illegal immigrants to NYC and surrounding suburbs, increasing local, county, and state taxes, creating many rules and regulations, New York had a flood of taxpayers flee New York to other low taxed cities and states. Now with the conviction of former President Donald Trump, many economists and political science scholars are forecasting millions of taxpayers and businesses will be leaving New York to other family and friendly states. If politicians can go after a former President of the United States and his family, New York politicians can do the same to an average Joe. Tens of thousands of taxpayers and businesses have already left New York. After yesterday’s news of former President Donald Trump being found guilty of 34 felony charges, it’s going to backfire on New York.

New York can soon become a ghost 👻 town. Stay Tuned, FOLKS.

Is investing in copper a good investment? Whether investing in copper is a good investment or not depends on several factors, including the investor’s goals, risk tolerance, and investment horizon. Here are some key points to consider regarding investing in copper:

1. Copper is a cyclical commodity: The demand for copper is closely tied to the overall health of the economy, particularly in sectors like construction, manufacturing, and infrastructure. When the economy is growing, demand for copper typically increases, driving up prices. However, during economic downturns, copper prices tend to decline.
2. Supply and demand dynamics: Copper is a finite resource, and its price is influenced by the balance between supply and demand. If new copper mines are brought online or existing mines increase production, it could lead to an oversupply and lower prices. Conversely, supply disruptions or increasing demand from emerging economies like China and India can drive prices higher.
3. Industrial usage: Copper is an essential material in many industries due to its excellent electrical and thermal conductivity, as well as its resistance to corrosion. It is widely used in electrical wiring, plumbing, and various industrial applications. The growth or decline of these industries can impact copper demand and prices.
4. Investing options: Investors can gain exposure to copper through various instruments, including copper futures contracts, copper mining stocks, exchange-traded funds (ETFs) that track copper prices, or physical copper (e.g., copper bars or coins).
5. Volatility and risk: Like many commodities, copper prices can be volatile and subject to significant fluctuations due to various factors, including global economic conditions, geopolitical events, and supply disruptions. Investing in copper carries risks, and investors should be prepared for potential price swings.

Ultimately, the decision to invest in copper should be based on thorough research, an understanding of the copper market dynamics, and an assessment of one’s investment objectives and risk tolerance. It may be advisable to consult with a financial advisor or conduct further research to determine if copper suits your investment portfolio.

https://www.youtube.com/watch?v=2p2Jwt9VZDU

Look at this short video. This is exactly how NOT to act if you are pulled over by a police officer for a traffic infraction. What a POS idiot.

https://www.facebook.com/100064446381691/posts/pfbid02d2SQgYyP3KtQitMosfSFNPo8k5sgehEWehCxW3f29BTywqVT96iyfUysDUHG2GFZl/?mibextid=9drbnH

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Entitled man has no idea why he’s being pulled over | He thinks he’s above the law… 🙄 | By Daily Mail VideoFacebook

He thinks he’s above the law… 🙄

What is the 6th Insurrection all about?

What is the Russian Collusion.

What is the Cross Fire Hurricane during the former President Donald Trump Administration?

Every Memorial Day saddens me, not just because of the lives lost during our wars, also my father died on Memorial Day weekend. Is been 55 years since his passing. I mourn each year. Now think of all the family members who mourn their loved ones. I have a friend who posts a picture of her Uncle Patsy, who died in 1943 during World War Two. A relative she never knew who gave his life so we are able to have BBQ’s, camping trips, and picnics. Potential that will never be achieved follows all our lost soldiers. Some soldiers who returned are still battling their demons. Most of my proceeds from my book sales are donated to Wounded Warriors Program. Maybe instead of that extra case of beer over the weekend, make a donation to this program, or any other program that supports our soldiers. Remember they gave their lives for us, its not a joyous holiday. Enjoy your holiday BBQ’s and such, please remember the true meaning of the holiday. When having your first drink salute them for their sacrifice.

Biden Administration authorized use of deadly force in the use of the Mar a Lago Raid. Shoot to kill on former President Donald Trump, his family, and his staff during the Mar a Lago Raid by FBI agents.

https://www.youtube.com/live/nPmcGBynUJo?si=TUhJNbnMDSD–

Florida the land of retirees, oranges and Mickey Mouse. For years Florida has been a safe haven for old folks. The weather is ideal once you get passed hurricanes and alligators. Every state requires acclimation. When I lived in the mountains the air was thinner so it took time to get acclimated. Water takes longer to boil. When I lived in the city everything moved fast. Florida you think moves slow, well let me inform you it doesn’t. Maybe back in the day, but lately the traffic is out of hand. The influx of norther people has changed the state. No longer grandma and grandpa, big corporation set up shop. During Co-Vid when we were isolated, working remotely seemed to be the answer. It’s true the weather is great in the south. But where is the south? The Mason Dixon Line actually borders Pennsylvania. I guess south Philly is really the south. Whereas Florida is really in the south, Key West being the southern most point of the USA. How about the Deep South? Alabama and Mississippi, you can’t get anymore south as far as culture. You know you’re in the south when you start saying, “Y’All.” The food is different, the music is also different. My big acclimation has been the bugs. Have you ever seen mosquitoes in Louisiana? They can swoop down and pick up a little dog. Being Italian and loaded with that wonderful aroma of garlic I thought I was immune. No way! Roaches as big as mice, you’ll always know when its humid, they suddenly appear everywhere. Rats, yep we got them too, fruit rats, sounds much nicer than sewer rats. Lizards are everywhere, they used to be a bright green color like the Geico lizard. Then black northern lizards moved in and ate the green guys, evolution? Housing prices have doubled in the past five years, gas and food are at an all time high. The cost of living is so high for us elderly that we see every mouth our savings dwindle. $500.000 for a shack, but it has location. I have been checking the prices of houses in Pennsylvania lately. Some Florida half million dollar shack is $250,000. Maybe I’ll trade in my suntan lotion for a snow shovel and retire up north.

Here’s a great 👍 informative video clip from VINWiki about car Depreciation the minute you drive it off the auto dealership. Electric cars, like all vehicles, experience depreciation, but there are specific factors that influence the rate at which they lose value. Here’s an overview of how electric cars depreciate and the factors affecting their depreciation rates:

Factors Influencing Depreciation of Electric Cars

1. Battery Life and Technology:

   • Battery Degradation: The lifespan and efficiency of the battery are critical. Over time, batteries lose their ability to hold a full charge, which can decrease the car’s range and performance.
   • Technological Advances: Rapid advancements in battery technology and electric vehicle (EV) features can make older models obsolete faster than traditional vehicles.

2. Government Incentives:

   • Tax Credits and Rebates: Federal and state incentives for new electric car purchases can reduce the initial cost, but these incentives don’t apply to used cars, which can affect resale values.
   • Policy Changes: Changes in government policies regarding incentives can also impact the depreciation rates.

3. Brand and Model Perception:

   • Brand Reputation: Brands with a strong reputation for quality and reliability tend to depreciate more slowly.
   • Model Popularity: Highly popular models with good reviews and strong market demand retain their value better.

4. Market Demand:

   • Consumer Preferences: As consumer interest in EVs grows, demand for used electric cars can help stabilize depreciation rates.
   • Resale Market: A well-established resale market can positively impact depreciation rates.

5. Mileage and Usage:

   • Lower Running Costs: EVs typically have lower running costs, which can make them more appealing on the used market.
   • Usage Patterns: How the car has been used (e.g., city vs. highway driving) and overall mileage will affect its resale value.

Depreciation Rates Comparison

Electric vs. Gasoline Cars:

• Higher Initial Depreciation: Electric cars generally depreciate faster initially compared to gasoline cars. This is partly due to the high cost of the battery and rapid technological advancements.
• Long-term Trends: Over time, as the market for electric vehicles matures and battery technology stabilizes, depreciation rates for EVs may become more comparable to those of traditional vehicles.

Examples and Data

Tesla:

• Model S and Model 3: Tesla vehicles, particularly the Model S and Model 3, have shown better-than-average resale values compared to other electric cars. This is attributed to Tesla’s strong brand reputation, continuous software updates, and high consumer demand .

Nissan Leaf:

• Rapid Depreciation: The Nissan Leaf, one of the earlier mainstream electric cars, has experienced rapid depreciation. Factors include its older battery technology and the availability of newer, more advanced EV models .

Conclusion

Electric cars depreciate due to factors such as battery life, technological advancements, government incentives, brand reputation, and market demand. While they may depreciate faster initially compared to gasoline cars, certain models, like those from Tesla, tend to retain their value better. As the market for electric vehicles continues to evolve, these depreciation trends may change.

https://www.facebook.com/share/v/e8d3zYemG5W6wwrG/?mibextid=D5vuiz

• This discussion was modified 1 year ago by  Gustan Cho.

facebook.com

Market Insights on the Values of High-End EVs! | Market Insights on the Values of High-End EVs! | By VINwikiFacebook

Market Insights on the Values of High-End EVs!

“Okay class, simmer down, simmer down, this weekend’s reading assignment will be pages one through fifty in “To Kill a Mockingbird.” Yes, Jimmy, you have a question?” Yes’m ma’am, my momma and daddy won’t let me read that book.” Why replied the teacher? “ It’s offense to my parents, it uses the N word.” Jimmy, go home and tell you parents it’s supposed to offend us. Banning books is like banning history, oh wait they want to change that, too because it offends people. You know what happens if you start banning books? Your freedom is challenged. First Mockingbird, next Huck Finn, and maybe the Bible, who knows? American Literature is a history lesson. When John Steinbeck wrote, “Of Mice and Men,” he depicted the era of Depression. Where else would we get a first hand lesson by an eye witness of the Depression. Not many people are still alive to talk about it. Was there a lesson? When Atticus Finch states, “ you will never know a person until you walk in their shoes.” Yes, a big lesson about racism. Huck Finn befriends Jim a slave. Message? Mockingbird and Huck Finn are called, “coming of age,” novellas. When a child starts on one path and sees the other path. A story of personal growth. Mockingbird, similar genre, only he is an adult. An attorney who finally debates racism. They don’t write them like that anymore. There are lessons people refuse to see. You can’t ban books, you are giving up your First Amendment. Next they will ban, “Old Man and the Sea,” because of animal cruelty. He killed a marlin. Oh, wait, the message, did he really kill a marlin? Or was their some other meaning to the story.

When you’re thinking about buying or refinancing a home, there’s one important thing you need to know: LVR. This short acronym can help you understand how much you can borrow, what interest rates you’ll get, and what risks are involved. Let’s learn why LVR is so important, and also get professional advice.

What is LVR?

LVR stands for Loan-to-Value Ratio. It’s the percentage of the home’s value that you borrow. For example, if your LVR is 80% or less, you might get better interest rates and pay less each month. If your LVR is more than 80%, you might need to pay for Lender’s Mortgage Insurance (LMI) or have a family member help you.

How to Calculate LVR

Figuring out your LVR is easy. Divide the amount you want to borrow by the appraised value of the home, then multiply by 100 to get the percentage.

What Isn’t Included in LVR Calculation?

When you calculate LVR, don’t include extra costs like fees for lawyers, stamp duty, or other expenses.

Practical Example

Let’s say you’re buying a house for $500,000 and you have saved $100,000 for the deposit, so you need to borrow $400,000. Here’s how you calculate your LVR: LVR = ($400,000 ÷ $500,000) x 100 = 80%.

Your LVR will be 80% if the lender thinks the home’s value is the same as the purchase price. If you have a bigger or smaller deposit, your LVR will change. For example, a $150,000 deposit would make your LVR 70%, while a $50,000 deposit would make it 90%.

Borrowing Above or Below 80% LVR

Why is 80% LVR important? Your borrowing conditions and risks change a lot based on whether your LVR is above or below this point.

Borrowing Up to 80% LVR

Lenders see less risk when you borrow up to 80% LVR, so they often give better rates. You’re also more likely to avoid paying LMI and enjoy a simpler, faster approval process.

Borrowing More Than 80% of Property Value

If you need to borrow more than 80% of the home’s value, lenders usually require LMI to protect themselves. This insurance adds to your loan balance and monthly payments. Higher LVRs also often mean higher interest rates.

Handling Lower Valuations

If the lender thinks the home is worth less than the purchase price, you might need a bigger deposit to keep an acceptable LVR. For example, if a $500,000 home is appraised at $450,000, you might only get a loan for $360,000 at 80% LVR, needing a $140,000 deposit.

Benefits of Paying LMI

Sometimes, paying LMI can help. If saving a bigger deposit means waiting years to buy a home, the cost of LMI might be less than the increase in home prices during that time.

Lowering Your LVR

To reduce your LVR, you can ask a parent or close relative to be a guarantor, using their home equity to secure your loan. Another way is to save a bigger deposit. Start saving early and set a goal for your LVR when planning your home purchase.
That was all about LVR.

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Refinancing your mortgage can be confusing. It’s not always easy to decide if you should refinance or keep your current loan. You need to do some research, get advice, and compare your options. The right time to refinance depends on your situation. Before you decide, make sure to – Get the expert advice.

• Look at your current financial situation.
• Use a refinance calculator to compare options.
• Understand the pros and cons of refinancing.
• Learn the steps and fees involved.

When Do Most Homeowners Decide to Refinance?

Most people refinance to get a lower interest rate with another lender. Other reasons include when their fixed-rate term is ending or every 3 to 4 years, even with a variable rate. By then, their loan balance might be lower and property value higher, making it a good time to look for better rates or flexible options. Some refinance if their lender won’t release equity for buying an investment property or for debt consolidation to combine debts into a home loan at a lower interest rate.

How to Know if You Are Eligible to Refinance

• Owe less than 80% of property value: Your mortgage should be less than 80% of your property’s value to avoid paying Lenders’ Mortgage Insurance (LMI).
• Variable rate: You can refinance every 6 months, but each application will add an inquiry to your credit file.
• Refinance from low doc to full doc: If you had a low doc mortgage but now have enough income evidence, you might qualify for a standard home loan with a better interest rate.
• Refinance out of a bad credit loan: If your Loan-to-Value Ratio (LVR) is 80% or less and your credit has improved, you can refinance a bad credit home loan back to a major lender.

Refinance Your Home Loan in Easy Steps

1. Understand the Situation: Refinancing can be challenging. Check out our refinance guide to help you get closer to paying off your loan faster and for less money.
2. Know Your Savings: Contact our mortgage experts to see how much money and time you could save by refinancing.
3. Apply for a Refinance: Schedule an appointment with a Home Loan Experts mortgage broker by calling 1300 GET LOAN or book a consultation. We’ll help you choose the best loan and handle all the details for you.

How Frequently Should I Refinance My Home Loan?

It depends on your financial situation and goals. If it’s your family home and you’re not planning to move, consider refinancing at the end of your fixed term. If you have a variable rate, you can refinance anytime. This is useful for investment properties when you want to access equity to grow your portfolio.

Does It Make Sense to Refinance During a Fixed Term?

Yes, you can refinance during your fixed term, but you might have to pay break costs. If you can recoup these costs within two years, it might be worth it. Use the refinancing calculator to compare costs and savings. Talking with an experienced mortgage broker can help you fully assess your financial situation.

Alternatives to Refinancing

Refinancing can be costly and time-consuming. Here are some alternatives:

• Negotiate with Your Bank: Call your lender to see if you can get a lower interest rate or fix your repayments.
• Extend Your Loan Term: Consider extending your loan term to reduce repayments.
• Switch to Interest-Only Repayments: This can temporarily reduce your repayments, freeing up cash flow.

Keep in mind these should be considered short-term solutions as they can make your mortgage more expensive in the long run.

Not Sure When is the Right Time to Refinance?

Our refinance checklist will help you gather all necessary documents. We can assist you in running the numbers to see if refinancing makes sense for you. Call us at 1300 GET LOAN or book a consultation call to speak with one of our home loan refinance specialists.

Frequently Asked Refinancing Questions

When should I consider refinancing?

• When interest rates are falling
• Your home’s market value has increased
• You want to renovate or invest

What documents are required?

• Recent pay slips
• Tax assessment notice
• Pay confirmation letter
• ID documents (driver’s license, passport)
• Financial and credit documents

How long does the process take? Usually, it takes between two and four weeks.

Does refinancing affect the credit rating? Yes, refinancing is seen as a credit application and can lower your credit score if done often.

What are the costs to refinance? You might need to pay break fees, application fees, and closing costs.

How frequently can I refinance? There’s no rule, but some lenders might want you to wait a few months after closing on a loan or after refinancing.

Is refinancing and topping up your loan the same thing? Refinancing means switching to a new loan, while a loan top-up means increasing your existing loan.

Who should I refinance with? Different lenders offer different options based on your situation. Our mortgage experts can help you find the best option.

Procrastination is great, you have something to do tomorrow, and nothing to do today.

https://www.youtube.com/watch?v=Jd5PfO4P6g4

The Curse of the Sopranos

Most everyone has seen the Soprano’s, one of the greatest television shows ever. I was a late comer to the Sopranos when it started in 1999. I was working nights and didn’t have HBO. My sister in New York would call me and tell me about this new mafia comedy set in New Jersey. Of course I knew Jersey mobsters growing up, they differed from New York mobsters. Now, rasicm comes in all shapes and sizes. I was writing for a local newspaper and I was the food and wine editor. Some other writers, who studied journalism were on the staff. They never paid me any mind until the Sopranos, each Monday morning when the discussions should have been about current events, turned to discussions about the TV show, which I had never seen. Always asking me what do this mean, or what does that mean. One question which took me a while to figure out was, what does, “Maname?” I would answer I don’t know what you mean. Then one day I figured it out, “Madonna Mia.” Mother Mary or my mother was the answer.

My sister would still call and ask if I saw the show. I still never saw it. Yes, I am a New York Italian. Not all of us were in the mafia. If you want to piss off and Italian, put ice in your wine, and ask him about the mafia. We all knew who they were growing up. Suddenly, I was looked at as a once member. I tried to dispel this theory, but to now avail.

My sister would call and say have you seen the show and finally I did. It’s a friggin comedy! And the funny part all the ‘boys’ were comics in real life. I remember drinking with Ralph Gigante and he made me pee my pants. I recall when I was treated unfairly in a neighborhood business deal Ralpie spoke on my behalf. He said watch this, we walked into the shop of the unfair person took one look at Ralpie, “The Beast.” and cowarded on the floor pleading, “don’t tell Vinny, please!” The intimidation was a comedy act, like the Sopranos.

I was really perceived as a New Jersey mobster, I would say, “I’m from New York ,” it didn’t make a difference. Fast forward to 2008, I return to New York armed with incomparable wine knowledge. No New York restaurant would hire me, I was too New York and represented the mob. This was difficult to overcome. I was home and I didn’t fit in. Fast forward once again to 2022. My financial advisor shows up at my home one afternoon with real bad news. The first thing he says is, “don’t hit me, but I lose 20 percent of your investment, “please don’t hit!” What the fuck! I think, he’s watching too many Soprano shows. Yes, I am intimidating, I’m big with broken fingers from boxing, and I’m Italian! Now I get it! Okay lets fast forward one more time to 2023. My wife and I at the deli counter ordering cold cuts, that’s what we call them,not sandwich meat, cold cuts. I ask the deli man for a half pond of capicola. My wife asks what’s that, and I answer ‘gabbagoul.” Looking shocked she says, “that’s what Tony Soprano eats!”

The problem with racism is that the book IS judged my its color. Some parts may be true. One time my daughter was having a problem with a guy she worked with in California. Me living in Florida told her, “you know I’ll be on the next flight out, just to talk to him.” And I add, “tell him where I was born and show him a picture and ask him, “do you what to meet my dad?”

The guy never bothered her again. My own daughter was scared of my appearance, but she knew better, she knew me.

Please don’t fear me, and please don’t piss me off.