Comments on: the good, the bad, and the WellsFargo http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo Debt Kid - I'm Getting Out of Debt Sat, 21 Nov 2009 02:42:10 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: needloc http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo/comment-page-1#comment-9760 needloc Fri, 23 May 2008 15:27:47 +0000 http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo#comment-9760 Hey how were you able to get 30K in WAMU SBA. What are tips for a successfull application. I would like to get a business linoe of credit from WAMU in the future Hey how were you able to get 30K in WAMU SBA. What are tips for a successfull application. I would like to get a business linoe of credit from WAMU in the future

]]> By: Las Vegas Guy http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo/comment-page-1#comment-3372 Las Vegas Guy Mon, 08 Oct 2007 18:43:50 +0000 http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo#comment-3372 Litton SUCKS. They don't care about their customers. They "passed" on a BS charge from the prior lender when they bought my loan...not sure how that is possible when they paid off the former loan. Sent them documentation to prove it was bs and....nothing. Fought it for months, finally just sold the house to get rid of them. As Ann said, google them...you're in for it. Litton SUCKS. They don’t care about their customers. They “passed” on a BS charge from the prior lender when they bought my loan…not sure how that is possible when they paid off the former loan. Sent them documentation to prove it was bs and….nothing. Fought it for months, finally just sold the house to get rid of them. As Ann said, google them…you’re in for it.

]]> By: Joe User http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo/comment-page-1#comment-1797 Joe User Sat, 11 Aug 2007 19:58:43 +0000 http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo#comment-1797 How about instead of trying to beat out minimum payments, you just pay your goddamned bills and quit spending money that you obviously don't have? How about instead of trying to beat out minimum payments, you just pay your goddamned bills and quit spending money that you obviously don’t have?

]]> By: Ann Holden http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo/comment-page-1#comment-246 Ann Holden Thu, 12 Apr 2007 07:23:03 +0000 http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo#comment-246 Watch out for Litton. Google them. Watch out for Litton. Google them.

]]> By: Chris in Boston http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo/comment-page-1#comment-19 Chris in Boston Fri, 26 Jan 2007 02:39:46 +0000 http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo#comment-19 Not sure where you live.. but here in Boston, a bedroom rented out of a owner occupied home is getting 800-950 depending on amenities and what is included. I used to charge my prior "roomates" $950 and that covered everything, rent, heat, HW, cable, broadband, electric, water bill, etc. All they had to pay extra was their own food. Elsewhere in Boston, a 1 bedroom studio goes for $1200 or more not including any utilities. So $950 was still a VERY good deal for my roomates. I own a 6 bedroom single family home, I used to rent three bedrooms out at $950 and my mortgage & escrow was less than $1600. So I am willing to bet you could come up with a number that is fair to them, and more cash for you. Not sure where you live.. but here in Boston, a bedroom rented out of a owner occupied home is getting 800-950 depending on amenities and what is included.

I used to charge my prior “roomates” $950 and that covered everything, rent, heat, HW, cable, broadband, electric, water bill, etc. All they had to pay extra was their own food. Elsewhere in Boston, a 1 bedroom studio goes for $1200 or more not including any utilities. So $950 was still a VERY good deal for my roomates. I own a 6 bedroom single family home, I used to rent three bedrooms out at $950 and my mortgage & escrow was less than $1600. So I am willing to bet you could come up with a number that is fair to them, and more cash for you.

]]> By: debt kid http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo/comment-page-1#comment-18 debt kid Fri, 26 Jan 2007 02:27:49 +0000 http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo#comment-18 Chris, thanks for the comment and encouragement. I will look into fair market rent in my area, I think I am pretty close (I charge them $500/month, every gets their own room. It's a fairly large house about 3000 square feet with basement). It sounds like you are doing just fine! I just want a net worth of zero! (vs. my current mass negative situation!) Chris, thanks for the comment and encouragement. I will look into fair market rent in my area, I think I am pretty close (I charge them $500/month, every gets their own room. It’s a fairly large house about 3000 square feet with basement).

It sounds like you are doing just fine! I just want a net worth of zero! (vs. my current mass negative situation!)

]]> By: Chris in Boston http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo/comment-page-1#comment-17 Chris in Boston Fri, 26 Jan 2007 02:06:35 +0000 http://www.debtkid.com/the-good-the-bad-and-the-wellsfargo#comment-17 Hi Again. Just wanted to say I enjoy reading your blog. I wish you the best in achieving your goal of being debt free in 24 months. Thats very agressive! I'm 41, and I struggled through my 20's, though never in such a hole as you are at 23. Today I am networth positive but no where near what it should be. If I liquidate everything and pay all debts, I will have $275K in cash. When I compare to others in my demographic I am not doing all that bad. My total debt outstanding is $378000. In 2007 my goal is reduce my debt by 2.5% and improve my cash and investment totals by 29%. I realize that I should be paying down my debt faster. But I really need to boost my cash reserves, mutual funds, and retirement accts. With low cost debt, and a market that has been getting me really good returns, it makes more sense now to shuttle cash into my investments, when rates go up, I'll shuttle more into paying down debt. The decade of my 40's is really where I need to build wealth. I have a plan to live under 60% of my total Gross Income. January, I am in the hole by nearly $900, but my budget only just now got done, so my remaining year should get to a NW of $335K and debt down to about $365K. In addition to maxing my 401K every year, I spent the last 2 years building emergency cash reserves equal to 10 months of net income. I wish this to grow to a full year, and I am spreading that over 3mos in money mkt, 3 mos in CDs, and 4mos in Strategic Allocation Mutual funds, all of these managed through ING Direct. I am now finally beginning to feel secure with the economy, and with my job again. So... I now wish to focus on building other investments. Sorry for the long post spilling my guts on my situation. I often panic thinking I am in trouble, but in perspective I think I am good, could be much better. Question for you. I notice your mortgage interest is pretty high on one of your loans. Is there any way to lower that? Also you mentioned you had roomates. Are they truly paying FAIR MARKET rent for what you provide as a landlord? I ask this because in my 20's and 30's I had friends I helped with renting spare bedrooms to. I never did research on fair market rent rates, and I was undercharging for years. If they are not paying fair market rates you need to raise the rent! Look at it this way... everybody needs to live someplace right? If they lived elsewhere they would pay markey rate. You should review what your area/neighborhood/housing style can get and charge as close as you can to market rate. Splitting the mortgage/tax/ins may seem fair (it is to them), but market rate is fair to both! Hi Again. Just wanted to say I enjoy reading your blog. I wish you the best in achieving your goal of being debt free in 24 months. Thats very agressive!

I’m 41, and I struggled through my 20’s, though never in such a hole as you are at 23. Today I am networth positive but no where near what it should be. If I liquidate everything and pay all debts, I will have $275K in cash. When I compare to others in my demographic I am not doing all that bad. My total debt outstanding is $378000. In 2007 my goal is reduce my debt by 2.5% and improve my cash and investment totals by 29%. I realize that I should be paying down my debt faster. But I really need to boost my cash reserves, mutual funds, and retirement accts. With low cost debt, and a market that has been getting me really good returns, it makes more sense now to shuttle cash into my investments, when rates go up, I’ll shuttle more into paying down debt. The decade of my 40’s is really where I need to build wealth.

I have a plan to live under 60% of my total Gross Income. January, I am in the hole by nearly $900, but my budget only just now got done, so my remaining year should get to a NW of $335K and debt down to about $365K.

In addition to maxing my 401K every year, I spent the last 2 years building emergency cash reserves equal to 10 months of net income. I wish this to grow to a full year, and I am spreading that over 3mos in money mkt, 3 mos in CDs, and 4mos in Strategic Allocation Mutual funds, all of these managed through ING Direct. I am now finally beginning to feel secure with the economy, and with my job again. So… I now wish to focus on building other investments.

Sorry for the long post spilling my guts on my situation. I often panic thinking I am in trouble, but in perspective I think I am good, could be much better.

Question for you. I notice your mortgage interest is pretty high on one of your loans. Is there any way to lower that? Also you mentioned you had roomates. Are they truly paying FAIR MARKET rent for what you provide as a landlord? I ask this because in my 20’s and 30’s I had friends I helped with renting spare bedrooms to. I never did research on fair market rent rates, and I was undercharging for years. If they are not paying fair market rates you need to raise the rent! Look at it this way… everybody needs to live someplace right? If they lived elsewhere they would pay markey rate. You should review what your area/neighborhood/housing style can get and charge as close as you can to market rate. Splitting the mortgage/tax/ins may seem fair (it is to them), but market rate is fair to both!

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