| Complicatedly shady decision about debts |
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Sarchus
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Cash: $ 2.35
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Joined: 08 Feb 2013
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| Complicatedly shady decision about debts |
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Should I pay off my very high interest credit card or my mortgage, which would wipe out my savings but "may" also allow me to pay off the for mentioned cc?
It probably seems obvious that I should keep my savings and pay off the high interest CC but here is the catch.
My insurance company gave me a check to fix my roof but its also written in my mortgage company's name and they wont let me fix it myself without a roofing license. I know it sounds shady but we know how to lay shingles very well and my mortgage has been trying to rip me off for years. It would be nice to just get from under their thumb.
My thinking is that I can just pay off my mortgage and maybe then my mortgage company will sign the check since they would no longer be affiliated with my home. The money that I saved by doing the roof myself could pay off most of the credit card.
Another option is for me to just try to get a contractor's license but I hear that the test covers more difficulties than just roofing.
Any advice would be greatly appreciated.
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Fri Feb 08, 2013 1:46 am |
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Dodger52
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Joined: 07 Dec 2012
Location: Montana
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| Re: Complicatedly shady decision about debts |
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quote:
Originally posted by Sarchus
My insurance company gave me a check to fix my roof but its also written in my mortgage company's name and they wont let me fix it myself without a roofing license. I know it sounds shady but we know how to lay shingles very well and my mortgage has been trying to rip me off for years. It would be nice to just get from under their thumb.
Check with the city, It may not be a big deal to get a license. A number of years ago the city required me to use a licensed installer in order to get a permit to replace my windows. It cost me $75 bucks to get the license, and the city approved the permits with me as the contractor. I think I had to provide a performance bond also, but those are pretty cheap. As a side note the license was good for a year, so I was able to use it to get the permits to do the windows in my neighbors windows too. You will probably need a permit to do the roof anyway, it would be a shame to pay off your mortgage and than find out that you couldn't do your own roof.
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Fri Feb 08, 2013 7:18 am |
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Sarchus
Member
Cash: $ 2.35
Posts: 11
Joined: 08 Feb 2013
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| Re: Complicatedly shady decision about debts |
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quote:
Originally posted by Dodger52
Check with the city, It may not be a big deal to get a license. A number of years ago the city required me to use a licensed installer in order to get a permit to replace my windows. It cost me $75 bucks to get the license, and the city approved the permits with me as the contractor. I think I had to provide a performance bond also, but those are pretty cheap. As a side note the license was good for a year, so I was able to use it to get the permits to do the windows in my neighbors windows too. You will probably need a permit to do the roof anyway, it would be a shame to pay off your mortgage and than find out that you couldn't do your own roof.
I'm going to check into that. Thanks!
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Fri Feb 08, 2013 3:58 pm |
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oldguy
Senior Member
Cash: $ 751.85
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Joined: 21 May 2006
Location: arizona
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quote:
I know it sounds shady but we know how to lay shingles very well and my mortgage has been trying to rip me off for years. It would be nice to just get from under their thumb.
Well, I wouldn't prepay a mortgage just to avoid paying $2000 or $3000 for the labor to re-roof a house.
But I would start shopping for a new mortgage. The US mortgage is the almost the least expensive capital in the world, no other country allows 30 years, fixed rates. And <4% is at a lifetime low. I would get a large 30 year loan and put that money to work for you, use it to earn several hundred thousand over the next 30 years, that is way more important to you than a roofing job. Plus, why keep a loan company that rips you off?
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Fri Feb 08, 2013 5:29 pm |
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Sarchus
Member
Cash: $ 2.35
Posts: 11
Joined: 08 Feb 2013
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quote:
Originally posted by oldguy
Well, I wouldn't prepay a mortgage just to avoid paying $2000 or $3000 for the labor to re-roof a house.
But I would start shopping for a new mortgage. The US mortgage is the almost the least expensive capital in the world, no other country allows 30 years, fixed rates. And <4% is at a lifetime low. I would get a large 30 year loan and put that money to work for you, use it to earn several hundred thousand over the next 30 years, that is way more important to you than a roofing job. Plus, why keep a loan company that rips you off?
And all the while every single daggone bank I ever dealt with, and thats a lot, has tried to corrupt my closing costs, appraisals, so called good-faith estimates, etc.. etc..etc... I even called the US Department of Housing and Urban Development about them just to find out that HUD's own credit counselors actually work for the banks. Then I even called the democrat and republican senators who said: "We arnt allowed to tell the banks what to do" and thats because their own Federal Reserve is run by guys like Rockefeller who run the banks. 
But you got me so excited about making my mortgage make me more money that I'm breathing funny.  Please tell me more!
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Sat Feb 09, 2013 12:56 am |
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Sarchus
Member
Cash: $ 2.35
Posts: 11
Joined: 08 Feb 2013
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quote:
Originally posted by oldguy
Well, I wouldn't prepay a mortgage just to avoid paying $2000 or $3000 for the labor to re-roof a house.
I did manage to find out that my city doesnt even require a homeowner to own a roofing license and its very possible that my mortgage company is overstepping their bounds. And I called Dave Ramsey who might be able to get me a better mortgage. Oh and if I just buy shingles, I save at least $8,000.00.
Thanks!
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Sat Feb 09, 2013 1:19 am |
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oldguy
Senior Member
Cash: $ 751.85
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Location: arizona
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quote:
We arnt allowed to tell the banks what to do" and thats because their own Federal Reserve is run by guys like Rockefeller who run the banks
You should read the book, Jekyll Island. A group bankers/congressmen took a train in the night, 1913, and spent some time hidden on the Island - thetyy formed the Federal Reserve System. And Prez Wilson signed it into Law.
And your congressmen are right, Congress is not allowed to direct or interfere with the Fedral Banking System. Thankfully.
quote:
Oh and if I just buy shingles, I save at least $8,000.00.
Wow, huge house! Roofing labor is about $16/hr, so that is 500 man-hours. Are you kidding - I'm 73 years old, I could shingle it by myself way faster than that.
Like I said - refi it with inexpensive <4%, 30-year capital, use the capital to earn several 100 thousand over the next 30 yrs. And use the $8000 hire some one to shingle your house.
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Sat Feb 09, 2013 4:55 pm |
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Sarchus
Member
Cash: $ 2.35
Posts: 11
Joined: 08 Feb 2013
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quote:
Originally posted by oldguy
Wow, huge house! Roofing labor is about $16/hr, so that is 500 man-hours. Are you kidding - I'm 73 years old, I could shingle it by myself way faster than that.
Like I said - refi it with inexpensive <4%, 30-year capital, use the capital to earn several 100 thousand over the next 30 yrs. And use the $8000 hire some one to shingle your house.
I have three bids all well over $9000.00 but the original roof (just for shingles, their placement and gutters cost $12,000. I can buy my shingles for around $2000. Yes my roof is huge. Its 51 foot long plus a 31 foot long garage and a shed added to that.
quote:
Originally posted by oldguy
You should read the book, Jekyll Island. A group bankers/congressmen took a train in the night, 1913, and spent some time hidden on the Island - thetyy formed the Federal Reserve System. And Prez Wilson signed it into Law.
And your congressmen are right, Congress is not allowed to direct or interfere with the Fedral Banking System. Thankfully.
Hey wuss up oldguy,
Wasnt Jekyll Island the book where JP Morgan's mad scientist (Edison I believe) uses a strange green koolaid to turn the U.S. president and congress into Mr. Hyde like zombies so their Central Bank could implement their self worshiping and self proclaimed survival of the fittest elitism to better control who they referred to as the less evolved sheople castes into worker drones supporting the central collective. 
You see, the Federal Reserve is the Central bank of the United States. The government ran banker's bank and regulator with it's board appointed directly by the president. The Federal Reserve in turn appoints regulators like the Federal Deposit Insurance Corporation (FDIC), Consumer Financial Protection Bureau (CFCB),National Credit Union Administration (NCUA), etc... The Federal Reserve is also in cahoots with the US Treasury, which houses the Office of the Comptroller of the Currency (OCC)-- the central regulatory organization for complaints against big banks.
For instance, in 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury. Timothy Geithner who was previously the president of the Federal Reserve bank of New York was recently appointed as chief of the US Secretary of the Treasury and also appointed by none other than the president.
J.P. Morgan Chase Bank, which happens to be the most abusive bank when it comes to using middle class Americans as cannon fodder during this recent economic crisis is supposed to be regulated by the above government agencies. However, they are given free reign and why not when a major king pin of J.P. Morgan Chase Bank has been none other than David Rockefeller, who also happens to be a chief adviser of the Federal Reserve; first appointed by Jimmy Carter.
You see we haven't seen such gross crony capitalism since the days of JP Morgan, Carnegie, John D. Rockefeller , etc.. who believed and promoted the idea that "growth of a large business is merely a survival of the fittest . . . the working out of a law of nature . . ." In other words, let the serfs and peons fall where they may for the good of the so called feudalist landlords. Unfortunately, the likes of the History Channel with their lots of lies mixed with little truth propaganda carries on the glorification of the Industrial exploiters of land and man.
And the inheritance continues with David Rockefeller who was also a major figure in opening up the U.S./China economy that led to the Chinese force that we are witnessing today. Interestingly and like a typical radical liberal, David Rockefeller was also an economic partner with Fidel Castro, Yeltsin, Khrushchev, Gorbachev, and Saddam Hussein. David Rockefeller’s nephew, Steven Rockefeller has teemed up with Micheal Gorbachev as the kingpin behind The Earth Charter, which is all about spreading the world’s wealth and eliminating its Co2 breathers the way they see fit, mainly abortion. Steven Rockefeller is also the chairman of the CFR (Council on Foreign Relations) and a major adviser of president Obama, a president who's cabinet is made up by a majority of feminist lesbian abortion fanatics who follow a long tradition of using environmentalism to implement fascism and all the while parasitizing the earth with their industrial lobbyists.
This Global Banking Mafia has fostered Darwinistic/Nazi inspired depopulation, ethnic cleansing and eugenics programs via racist pseudosciences that provided excuses to repress or eliminate entire groups of people (the richest and smartest getting rid of the dumb and defective while making a profit). Early depopulation programs forged by the Rockefeller foundation in association with President Woodrow Wilson, Teddy Roosevelt, Scopes Monkey trial, the Nazis, etc.. were the basis of modern day incarnations of eugenics such as fluoride poisoning, vaccination sterilizations, etc... . This 200 year old program of eugenics for profit was drastically accelerated when the Global Banking Mafia owned CIA discovered Global Peak Oil for themselves in the early 70’s. New calculations on finite global oil reserves versus the exponential oil demand for several emerging countries expanded and accelerated their global depopulation programs dramatically.
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Sat Feb 09, 2013 8:20 pm |
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