5517
decoy:
thats a good plan. but you might save closing costs if you just assign a percentage to your respective investments and when you sell the house, just calculate your shares and split the diffence. if you refinance, you give the bank some and you lower your tax deduction, too.
(Mon Mar 15, 2004 - 10:14:39 am)
bela:
Closing cost? A cost the mortgage broker collects?
(Mon Mar 15, 2004 - 10:20:38 am)
Decoy:
Of course that gives Tom the lion's share, but if hes going to be that nice to you, let him. But still - So, for example, if you use round numbers and say the house was bought for 100k, and think of it as there are three investors- your investment is 15% and Tom's is 85% and the third is equity which you borrowed against. So if you sell for 200k then you get 30k (15%), Tom gets 160K and the remaining 10% or 20k you split since you build the equity together.
(Mon Mar 15, 2004 - 10:23:47 am)
Decoy:
Yoeah you would pay closing costs now, and points, presumably at 3.5% and then again when you sell it on the market. But that plan you have with taking out the original money and spittinghte rest 50-50 is a steal for you. I'd take it, its nice of Tom.
(Mon Mar 15, 2004 - 10:25:16 am)
Chewing Wax:
Good morning. Welcome back froupie.
(Mon Mar 15, 2004 - 10:26:34 am)
Froupie:
i'm, daydreamin about all the lovely things i could buy with 15 grand. hi chewie.
(Mon Mar 15, 2004 - 10:27:09 am)
Chewing Wax:
One months rent in NYC.
(Mon Mar 15, 2004 - 10:29:39 am)
bela:
Why is that so nice of tom? Yeah he came up with the down payment but there would be no house without my credit so there.
(Mon Mar 15, 2004 - 10:38:35 am)
Chewing Wax:
You're the one being nice letting him take out $85,000. You could probably do a lot better than that. But you'd have to pay a lawyer.
(Mon Mar 15, 2004 - 10:41:26 am)
Chewing Wax:
New York is equitable distribution, just like New Jersey. If Carmella is going to get half of Tony's money, you should do better that an 85/15 split in the home equity.
(Mon Mar 15, 2004 - 10:42:23 am)
Froupie:
70/30 would be nice. 60/40 even nicer. make sure you get the juicer too.
(Mon Mar 15, 2004 - 10:43:42 am)
Chewing Wax:
The juicer and the yellow princess phone.
(Mon Mar 15, 2004 - 10:44:00 am)
Froupie:
and kitchen utensils! it cost me a fortune to buy them all again.
(Mon Mar 15, 2004 - 10:44:55 am)
bela:
No, I don't want to do that. I believe he should get back what he put in and I'll get back what I put in, plus, he needs the money to pay back taxes on his business. Hes not going to buy a new car with it. He needs to keep his business going.
We also agreed that I would get some of the money from the rent coming in on the downstairs apartment. The rent downstairs is $950 - the mortgage is $1100 so hes going to give me $300 a month towards my rent. But instead of giving me $300 a month hes going to give me $3000 to float me for awhile and I'll have to use that money towards rent. So hes going to give me $1800. I would like to take the leftover money from moving and invest it, make more money.
(Mon Mar 15, 2004 - 10:45:10 am)
Froupie:
you need shrewd investment advice. dont be persuaded to put it into racehorses.
(Mon Mar 15, 2004 - 10:46:39 am)
bela:
But when we sell later I'll get %50.
(Mon Mar 15, 2004 - 10:46:41 am)
bela:
$18000 I mean.
(Mon Mar 15, 2004 - 10:47:12 am)
bela:
thats a lot of shoes but I'm going to be smart.
(Mon Mar 15, 2004 - 10:47:22 am)
Froupie:
maybe just a few pairs of shoes to treat yourself then.
(Mon Mar 15, 2004 - 10:47:50 am)
Froupie:
after all... new start, new shoes. as they say.
(Mon Mar 15, 2004 - 10:48:54 am)
bela:
I'm too depressed to shop but I may be able to work something out with myself.
(Mon Mar 15, 2004 - 10:49:11 am)
Carmela:
Invest your money in fine wines and rare animals.
(Mon Mar 15, 2004 - 10:49:22 am)
bela:
Ew, she lost a lot of weight.
(Mon Mar 15, 2004 - 10:49:54 am)
Froupie:
i found a royal mail postmans hat on ebay. theyre not allowed to sell those thing.
(Mon Mar 15, 2004 - 10:50:33 am)
bela:
I need to buy things I think. And I have to pay up my car insurance too - I want to keep my car.
(Mon Mar 15, 2004 - 10:50:43 am)
Chewing Wax:
I just bought this
(Mon Mar 15, 2004 - 10:52:43 am)
Chewing Wax:
(Mon Mar 15, 2004 - 10:53:07 am)
Chewing Wax:
I'm going to have it framed.
(Mon Mar 15, 2004 - 10:53:40 am)
bela:
You bought stickers?
(Mon Mar 15, 2004 - 10:53:51 am)
Chewing Wax:
Yeh. A big thing of stickers.
(Mon Mar 15, 2004 - 10:54:03 am)
Froupie:
are they at least vintage?
(Mon Mar 15, 2004 - 10:54:08 am)
Chewing Wax:
Better than shoes.
(Mon Mar 15, 2004 - 10:54:16 am)
Froupie:
ho ho
(Mon Mar 15, 2004 - 10:54:34 am)