Contributor
brainysmurf
Posts: 89
Registered: ‎03-19-2011
Re: Compromise Sale Reporting

webhopper wrote:

Another thought concerning the long distance landlord issue...   You may be able to hire a "property manager"  and structure the deal so that they get a nice sign up bonus when they stick a tenant in your house and then get an incentive for obtaining a long term tenant.

 


That would definitiely be the route I take if renting. I wouldn't feel at all comfortable trying to manage a Virginia Beach property from Everett, WA. I'm meeting with a property manager tomorrow for an "estimated rent to estimated expenditure analysis" she sounds very well informed, and most importantly honest. She's saying always budget for 10 months rent annually, and she's very up front about the potential for a loss. I've also found that with rates where they're at I can get a no cost VA IRRRL refinance from 4.25 to 3.65 (not a big change, but no closing and no increase to principal). No cost due to Yield Spread, and selling a point.

 

I have been getting Discover personnal loan pre-screened offers in the mail. I haven't even been opening them...

...places palm over face to shield eyes from light of blindingly bright light bulb that just came on...

I have tried getting a reduced APR from NavyFed on my cashRewards. If I applied for one today I would most likely get the 9.6% "APR As low as" rate. I got my card when I still had baddies 5k and 18% was amazing at the time. Once credit was clean I asked for better APR for any possible long term purchase, the doubled my limit instead. I could ask about a PC to Plat, since I don't use that line enough for the rewards to matter, but my APR would likely be unchanged. Maybe I'll apply for Plat, and ask them to merge limits. :smileyhappy:

 

What I will have to consider if there is a monthly  loss is if it's greater than monthly payments on the unsecured loan I would need in order to sell.

 

Thanks for your advice webhopper. Some great ideas and different angles to approach this from. More than anything you've helped me to keep calm and carry on.

EX / EQ / TU FICO
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