All Forum Posts by: Dave Chow

10k sounds really high. 

Get multiple quotes?

I mostly put 5k as deductibles since I always try to avoid claims.  Thoughts ?

Sounds paying out of pocket to fix it would be easier.  Otherwise they would increase your rate a lot after the successful claim. If you want to use the insurance, hiring an agent to claim might work better.  Sometimes those insurance companies are a bit hard to work with once comes to claims. 

We tent to evaluate insurance and shop them around annually. 

Basically what I was told is the lender does not need to be informed if transfer is after closing. They do not “care” as long as the mortgage is under the borrower name. But if it’s transfer at closing, there would be some trouble. 

 Wonder why sfhs are at high risk ?  Compared with multiple units, sfhs are easier to rent out and manage, at least that's my experiences. They are easier to get high quality tenants. 

Hes been at his new job only 3 weeks and makes 36k a year. So income is not meeting our requirements. But hes cosign with his fiancee who is pregnant. So might not work very soon.  Right now they are making 5k per month. 

He also has 40k debit due to college loan. 

Considering all the above, it kinda of has more risks than we expected. 

Hi BP members,

Do you consider someone has criminal recorsd 10 years ago?

1) He has a full-time job right now.

2) Credit score is good.

3) Has 2 criminal records 10 years ago. Right now hes 30.

a)COMMITTED: RECEIVE/POSS/SELL STOLEN VEH

b) OPERATE A MOTOR VEHICLE IN A CARELESS AND IMPRUDENT MANNER

All the above crimes were committed when he was much younger. 

Or allow him to occupy but ask for his family to cosign? 

Thanks. 

Some tax software like TurboTax , or professional services if you are too concerned,   can do it for you in a more accurate way .