I like to review this section called declarations on my good faith estimation in 1999.
Showing posts with label Understanding my mortgage. Show all posts
Showing posts with label Understanding my mortgage. Show all posts
Monday, December 24, 2018
Understanding my mortgage - step 5
I like to review this section called declarations on my good faith estimation in 1999.
Understanding my mortgage - step 4
Dec. 24, 2018
It is time for me to review and understand mortgage application in 1999 section by section. Now it is time for me to review the section called monthly income.
It is day before Christmas, and I like to spend time to learn something and stay home enjoy the learning.
In 2018, the condo association fee is $250 after 19 years. The property tax is $150/month, $1800/annual dollar based on market value.
Introduction
It is time for me to review and understand mortgage application in 1999 section by section. Now it is time for me to review the section called monthly income.
It is day before Christmas, and I like to spend time to learn something and stay home enjoy the learning.
Facts to review
In 2018, the condo association fee is $250 after 19 years. The property tax is $150/month, $1800/annual dollar based on market value.
Understanding my mortgage - house income and monthly expenses
Dec. 24, 2018
It is the first step to gather data from my personal finance data, and then I like to write down my analysis based on data.
Introduction
It is the first step to gather data from my personal finance data, and then I like to write down my analysis based on data.
Case study of house income and monthly expenses
Understanding mortgage application - step 3
Dec. 24, 2018
It is a good idea to study from my own experience. I like to review uniform residential application if I have 10 to 20 minutes.
Here is my application back in July 9, 1999. I like to case study this application and then figure out something to work on.
Introduction
It is a good idea to study from my own experience. I like to review uniform residential application if I have 10 to 20 minutes.
Loan application
Here is my application back in July 9, 1999. I like to case study this application and then figure out something to work on.
Understanding mortgage by myself - step 2
Dec. 24, 2018
It is a good idea for me to study my own mortgage back in 1999. I like to review section by section, so when I have 10 or 20 minutes, I will look into carefully what I should learn from those finance date.
Here is the snapshot I did back in July 9, 1999. Last 20 years I learn from so many things as a home owner. I like to write down one by one, and see if there are valuable thoughts.
1. What are major three items on closing cost?
2. What is interest rate? Do I see any information related to interest rate? How is it determined? What is USA prime rate in 1999?
Introduction
It is a good idea for me to study my own mortgage back in 1999. I like to review section by section, so when I have 10 or 20 minutes, I will look into carefully what I should learn from those finance date.
Good faith estimate
Here is the snapshot I did back in July 9, 1999. Last 20 years I learn from so many things as a home owner. I like to write down one by one, and see if there are valuable thoughts.
Questions to test my knowledge
1. What are major three items on closing cost?
2. What is interest rate? Do I see any information related to interest rate? How is it determined? What is USA prime rate in 1999?
Tuesday, December 18, 2018
Case study: My mortgage interest statements
Dec. 18, 2018
I like to build good habit to keep tracking of all expenses. Today I just quickly went over the mortgage interest statement of a home in Boca Raton. I only can find 9 years mortgage interest statement.
Here is the interest I paid from 2010 to 2017. I did not have all statements.
Facts to review
1. I could not find all mortgage interest statements
2. The interest rate makes huge difference, 2000 year interest rate is 7.125. The loan I got in 1999 is less than US Dollars $25,875.00
3. I need to build good habit, document all expenses; Try to work on basic things.
Idea to recover the data is to look up the prime rate, or I can search all my paper work again.
1999 closing facts:
Purchase price: $345,00.00
Earnest money: 1671.80
Mortgage amount: $25,875.00
Interest rate: 7.125%
120 months
Cash $9094
Total cost: $36,694.72
Go over second time to help me understand the process.
1999 closing facts:
I met the owner who owned #25, since I still rent the place #22 with my roommate; I took the price to go for the purchase.
Purchase price: $345,00.00
I paid deposit first, called earnest money.
Earnest money: $1671.80
I visited Amtrust bank to get loan.
Mortgage amount: $25,875.00
Interest rate: 7.125%
120 months
In total, I paid those cash amount. My saving is around $10,000 since I purchased a Ford Explorer in March, $3000 down payment, monthly payment $375.00. I had a job to pay $3600 monthly.
Cash $9094
In 2010, I left USA to immigrate to Canada. My home equity line used is $38,000 dollars. I took cash $18,000 dollars with me. I paid floor ($3900, 2003), new AC ($1900, 2003), refrigerator($500, 1999), furniture over $4000.00, condo association fee over $15,000 (?), property tax ($8000?), interest ($10,000?)
I did not learn the lesson very well after I failed to submit the bank statement for my immigration application in 2007; Later in 2009 I spent over 10 months to file appeal for leave; I still had the habit to ignore the basic book keeping, record and review and audit from 1984 to 2017.
It is hard to break bad habit. It takes a lot of effort to find the problem in my personal finance, I have to be very humble, find things I can control and work hard on those things first.
Feb 7, 2019
I found two more mortgage interest statements.
2002 interest statement $1465.19
2006 interest statement $1405.21
Another two statements were found today. I learn that it takes time for me to get those paper work organized.
It takes time for me to learn how to get organized. There are so many areas I can look into, and it is so exciting for me to learn how to manage myself, parent myself to track my expense.
Introduction
I like to build good habit to keep tracking of all expenses. Today I just quickly went over the mortgage interest statement of a home in Boca Raton. I only can find 9 years mortgage interest statement.
Case study
Here is the interest I paid from 2010 to 2017. I did not have all statements.
Facts to review
1. I could not find all mortgage interest statements
2. The interest rate makes huge difference, 2000 year interest rate is 7.125. The loan I got in 1999 is less than US Dollars $25,875.00
3. I need to build good habit, document all expenses; Try to work on basic things.
Idea to recover the data is to look up the prime rate, or I can search all my paper work again.
1999 closing facts:
Purchase price: $345,00.00
Earnest money: 1671.80
Mortgage amount: $25,875.00
Interest rate: 7.125%
120 months
Cash $9094
Total cost: $36,694.72
Go over second time to help me understand the process.
1999 closing facts:
I met the owner who owned #25, since I still rent the place #22 with my roommate; I took the price to go for the purchase.
Purchase price: $345,00.00
I paid deposit first, called earnest money.
Earnest money: $1671.80
I visited Amtrust bank to get loan.
Mortgage amount: $25,875.00
Interest rate: 7.125%
120 months
In total, I paid those cash amount. My saving is around $10,000 since I purchased a Ford Explorer in March, $3000 down payment, monthly payment $375.00. I had a job to pay $3600 monthly.
Cash $9094
In 2010, I left USA to immigrate to Canada. My home equity line used is $38,000 dollars. I took cash $18,000 dollars with me. I paid floor ($3900, 2003), new AC ($1900, 2003), refrigerator($500, 1999), furniture over $4000.00, condo association fee over $15,000 (?), property tax ($8000?), interest ($10,000?)
Arguments
I did not learn the lesson very well after I failed to submit the bank statement for my immigration application in 2007; Later in 2009 I spent over 10 months to file appeal for leave; I still had the habit to ignore the basic book keeping, record and review and audit from 1984 to 2017.
It is hard to break bad habit. It takes a lot of effort to find the problem in my personal finance, I have to be very humble, find things I can control and work hard on those things first.
Follow up
Feb 7, 2019
I found two more mortgage interest statements.
2002 interest statement $1465.19
2006 interest statement $1405.21
Another two statements were found today. I learn that it takes time for me to get those paper work organized.
It takes time for me to learn how to get organized. There are so many areas I can look into, and it is so exciting for me to learn how to manage myself, parent myself to track my expense.
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