Shop Time w/T.W. Friends

Apparently you can be composted now too

 

Good morning guys, have a great almost Friday.

Had a good time yesterday. Got to explore some early and mid 1800 houses and a church, talked to a couple of reenactment characters, saw some cool industrial sawmill stuff from the 1920s. Didn’t come close to finishing, got to go back next week lol.

 

I’ve recently reached that age where I have to take my glasses off to do up close work. It’s the opposite side of the coin to having to put readers on for non near sighted people.

 

I can't see far off and had to get bifocals about a year+ ago, I have to take them off when trying to read something on the computer but not my phone. It's weird, lol.

 

There’s no more good will discounts for long term customers, anywhere

15 year mortgages are great. They might be a bit tough in the beginning but just due to the time value of money, they get easier compared to everything else.

Whichever you get, if you can put just a little more to principle each month, makes a ton of difference .

Good luck, I hope it all goes smoothly!


Good Morning everyone Hope you have a terrific Thursday.

 

If the 15 year mortgage is stretching the budget just a bit more than you might be comfortable with you can go with a 30 year mortgage but make payments that would be the same as if you had a 15 year mortgage. The interest rates are sure to go down again and you will have the opportunity to refinance once they do. When that happens you can always refinance at the 15 year rate but finance the payments for the exact term that you want. So if you refinanced in 3 years then you could take the loan out for 12 years and the net result would be the same, the loan would be paid off in 15 years but you have allowed yourself some financial flexibility and you have not strained your monthly budget. The difference between the two interest rates is not significant, so the "cost" of doing this will not be much, especially for just 3 years or so. An added benefit to this method is that if you ever have a situation where you have a temporary financial struggle you will have paid in advance on your mortgage and could go months without HAVING to pay before you would be in default of the loan. I am currently doing this with an auto loan on the Highlander we bought for my wife. I knew when we were purchasing it that we would be buying a house soon so the lower payments helped us qualify for financing for the house and I can choose to pay more when I have it in the monthly budget and pay the lower loan amount if we have more bills than expected a particular month.

 

Good morning everyone, have a great and blessed day.

 

My situation scares me even more. When I was divorced and single living in a 1000 square foot duplex was fine. When I remarried not so much. The my dad passed away and with my two siblings living more than a 1000 miles away Mom could not live in and take care of the house she owned. So we bought a new house last summer to give us more room and Mom a safe place to live where we could provide the needed care. She is 84 years young. With a 30 year mortgage I am terrified by the idea that I would be 87 if the loan went full term. I don't think I will be alive that long so at one point something will have to change. The plan will be to refinance when rates are lower, a few loans are paid off, and hopefully our incomes increase a bit also. At one point we will sell the duplex and apply any proceeds to the existing house loan. So hopefully close to my retirement we can be completely out of debt. Hopefully....

 

Bought my current house on a 15 year back in 2016. Hoping to have it paid off in 2 more years.single problems I guess, if I don’t use it for the house I’d just buy more projects I don’t need and will never finish. Though when I bought it it was the only house in the neighborhood. Now there’s people building new homes everywhere and it’s Killing me on my property taxes…If you can afford swinging the payments I always say go with the lowest interest rate and shortest term.

 

Dam... you's old....

 

If you start at 15 you cannot refinance to 30.
If you start at 30 you can refinance to 30 again or 15

 

this is what I am doing agree 100 percent

 

Check out BankRate.com you'll usually find the best rates there.

 

My opinion differs on that. You can refinance virtually anything so long as you have a reasonable credit score. But if you have a 30, you can pay it like a 15, but if you have a 15, you cannot pay it like a 30. In the past, I've had 15 and 30-year mortgages. I certainly like the lower rate of the 15, but the flexibility of the 30 had more value for me on my last refi two years ago. Hence, I'm currently in a 30, so I have a lower minimum payment amount. Keep in mind very few people ever keep a mortgage for the entire term of the loan. There are many reasons for this; rates change, people relocate to new areas, and they upsize or downsize their accommodations. This almost always means a new mortgage or a refi of the old one.

 

To add to the conversation....With my duplex, I bought it with my ex, we bought a house 6 years later but kept the duplex. Divorce happened 12 years after the purchase and I ended up with the duplex and my ex with the house. In that 12 years the duplex was refinanced 2 times, all more than 15 years. The first refinance went from a 15 year variable rate to a 30 year fixed. As I fought my way out of paycheck to paycheck living with the divorce the 30 year loan kept my payments low. About 7 years after the divorce I refinanced and moved the loan to a 15 year loan saving 8 years of payments. 3 years later refinanced to a 12 year loan with a better rate and finally with 5 years left on the loan I moved the loan to a 2nd mortgage status as I could take advantage of very low rates that way and did not have to have an appraisal or deal with points or closing costs. Paid off the final 5 years in 3 and was done with the mortgage but used the equity for a HELOC to afford the land purchase for the new house.

 

Customer is driving this VW Rabbit. Check out the rims

 

If the shoes fit!

 

i've always thought those Porsche rims were hideous!

 

I only ever put my glasses on to drive.

I can still see fine up close the eye Dr said my eyes are just focused in the area from 10 " to 20" from all the reading and welding over the years.

At my last visit my prescription has not changed much just needed some fine tuning my 15 yearold glasses are fine till I can afford new ones.

 

I never even really take notice of things like that anymore.

As long as the wheel allows the tire bead to seal all is good for me.

I am not sure how many Aluminum 15" Toyota wheels I have I bought them so cheap.

Because I was told they are to ugly for my Truck all to often.