Equity Lines of credit are not always the best
Date: Tuesday January 30, 2007Posted in: Credit Loans
Since this blog is not only about war and politics, which by the way gets boring after a while. I have decided to discuss something else.
In this case finance and loans. I have been hit hard by the Florida homeowners insurance increases and temporary peak in the real estate market. So I have to find additional ways to cut my expenses and so here is one way that I have found.
Now that the prime rate is over 8.5 percent, You may be better off finding a loan that has a lower interest rate and it may ofset your tax savings. So here is a prime example:
Last year my wife got a personal loan from a small savings bank that has a fixed rate of 5.5 percent and allows us to pat just interest only for 2 years. This loan is for $20,000 and the payment is about $85. At the same time I have a home equity line of credit for $50,000 and the interest only payment is $350. So I find that the first loan I could increase it to $50 and the payment would be about $210 for 50K. So then if I can save $140 a month, who cares of the tax savings of less than $50 a month that you get on your income tax return. $210 is still better then $350 - 50 ($300)
This is only possible to do if you have a good credit score, but it is going to help me to save $90 each month.
How we can reduce American Casualties in Iraq.
Date: Thursday January 25, 2007Posted in: Iraq War, Politics
I know that most people who will read this are thinking that the best way is for us to just leave Iraq and then we will be ok.
But then these militants will be free to do whatever they want and they will take over Iraq. First they will overthrow the current government and setup training camps and then they will come to the USA and Enland and Bomb us, much the same way as happens on the Fox network TV show 24.
I believe that that is what will happen if we leave now.
So are you willing to let America take that chance? We cannot afford to do this or we will wind up regretting it in the near future as soon as a suitcase Nuke blows up in LA.
So, if we can’t pull out, how can we win this war quickly and make America look good? Well the answer is simple.
1) Stop letting dirty politics, undermine the war and make us more hated by the rest of the world. We need to let out troops be more aggresive and fight to win.
2) We need to stop letting these militants get more weapons and ammunition.
I think somebody is not paying enough attention to the trucks that are comming in over the borders from Iran, Syria, Jordan etc. They need to focus more on Border security and that is what the new troops should be used for.
Iraq is not like the USA, where everybody wants to come to find jobs. In Iraq people get shot if they wait in line to even find a new job. So isn’t it obvious, anybody trying to go into Iraq right now is probably a terrorist or a weapons smuggler. We need to stop this and then we will be able to win the war.
But I bet you that dirty politics are behind this. There are some people out there, even Anglos like the characters on the fox 24 TV show that would rather make more money by feeding more weapons to these groups.
Wake up Mister President and all of the ARMY Generals and make this stop happening! Also please note that we did a much better job in the first war and that is also because we controlled the borders! I was in that war and I know this is why we did so well.
We can certainly use our satellites, planes and missiles to help clean up the border. Lets blow up every truck that crosses into Iraq by land. This is the only way to win.
Finally please stop listening to the media or Iraqui politicians who will complain about everytime we accidentaly kill a few civilians. This is a war and that has to happen or we will never win it.
Those guys are all a bunch of hipocrites and they should be ignored.
RE: Unbearable homeowners insurance costs in Florida.
Date: Tuesday January 23, 2007Posted in: Taxes, Uncategorized, insurance
Yesterday a new Bill was passed that may help me to get a slightly better rate next time I renew my insurance, but I still think that a lot more needs to be done.
So here is an email I sent to the Governer. I still have not received a response, but I know they have been busy over the last week or so.
Dear Governor Crist:
I understand that you are really trying to help reduce insurance rates in Florida and I would like to thank you in advance for that.
Now I would like to know if this will be something that we will see as some kind of refund from our current insurance premiums which have doubled since last year,
Or will this be an effort to prevent further increases. I have noticed that over the past year, almost every neighbor that I speak with has been hit with a premium increase of almost $200 per month. Some of us see this, when our banks do an escrow analysis and that is my case. My bank is asking me to pay an extra $2000 toward by escrow Balance and then my payment will still go up by $150 per month. I really cannot afford this and my wife is ready to sell out house and wants us to move to Georgia.
We may all have to move to another state:
I also want you to know that 3 other families from my wives side are all planning to do the same. They all want to move to Georgia. There must be a better answer. If too many people begin to leave Florida, that may Hurt the economy even more.
So now having said this, I would like you to consider this:
Solutions:
1) Reward those who have Solid Houses and those who do not file claims:
I live in a community called Venezia Lakes. The Zip code is 33186 My house was built in 2001 by Carribe Home builders.My house is of solid reinforced concrete construction. The roof is of Barrel Tile, I have shutters and I do use them.
2) Crack down and Punish Scammers:
I am very sad when I am invited to a party and I here people brag about how they became rich Thanks to Hurricane Andrew, of Wilma.
These people should be punished and not rewarded. Those same people try to tell me that I am a fool because I should have filed a claim last year.
When Hurricane Wilma hit last year, we did not suffer any damages. We may have lost one or 2 roof tiles, but that is it. If any of my neighbors filed claims, believe me they are fraudsters. The houses in my community are built very strong and up to code.
I am very certain that one of the main reasons that insurance is so expensive is because there is a lot of fraud and exaggeration whenever we get a storm.
I also know that if you created a law that punishes people for filing claims and rewards those of us who do not, would be of great assistance.
I never files any claims and I would not unless my house was really destroyed. I know that only a tornado could do that. But the odds of a tornado are less than that of a Hurricane. Let us make those people who scammed Andrew, Katrina and Wilma
Be the ones who should move to another state.
3) Let us pay a higher wind deductible!
I am willing to pay a much higher wind deductible if only I could see my insurance premium reduces, to where I can afford it.
4) Reevaluate the “East of US1“, barrier:
There are many parts of South Florida, especially Homestead, where US1 is much further from the coast. The houses are brand new and solid, yet we cannot get windstorm insurance there. This is going to have a negative effect on the home values if something is not done. Why can’t the barrior be based upon how many mile from the coast you live, versus using a highway that is inconsistent.
Please let me know if you can share any simular stories or comments about this topic.
