Have you owned a business/company?

[see4]

I bought my home before June 2013, on a FHA loan. Which means I can eliminate my mortgage insurance in less than two years, if the principal is 80% or less. That will save over 80$ on my monthly mortgage payment, while still keeping my 3.5% interest rate on a 30 year loan, which I could easily pay off in less than 15

Uhm, no. With an FHA you will need to refinance out of the FHA in order for you to "remove" your PMI. The likelihood you will get a conventional loan at 3.5% today is basically nil. The only way that can be done today is if you get a 15 year mortgage and drop down another 10-20% on your loan.

 

[see4]

Nobody who is not mentally ill is starving and living in the street in America. Can you say the same for India? China? Russia?

Why are we being held to an unrealistic standard?

Why are we paying billions and billions of dollars a month to a military industrial complex that's gone world wide, when we have sick and needy people on our own soil that need taken care of? Why are we not taking better care of our veterans? Why the hypocrisy?

 

[Not GOP]

Uhm, no. With an FHA you will need to refinance out of the FHA in order for you to "remove" your PMI. The likelihood you will get a conventional loan at 3.5% today is basically nil. The only way that can be done today is if you get a 15 year mortgage and drop down another 10-20% on your loan.

Who ever mentioned refinance? Why would I want to do that? I already have a 3.5% interest rate. The FHA isn't going to stop charging monthly mortgage insurance for a minimum of 5 years. In my case, 20 months from now

 

[blackforest]

I learned long ago in business that there will always be people at the bottom. It's just a cold hard fact that even I did not want to believe. I always thought everyone could be helped if they had the information and resources, but this is just not true. Robotics and automation is just going to make it worse as well for those at the bottom. All the information in the world is available at our fingertips. Educate yourself and learn a skill, that's all I can suggest. Don't stop, and always keep trying to perfect yourself. It's not easy though, that's why you have to work hard just to be in the middle. I did the corporate thing and the cubicles, but have been 100% commission based, work from home for over 10 years. It taught me how to work hard and smart. Competition is steep out there, if you don't stand out, you are just another cog in the machine. At least here in America, you have a choice, regardless of what anyone says.

 

[UncleBuck]

I learned long ago in business that there will always be people at the bottom. It's just a cold hard fact that even I did not want to believe. I always thought everyone could be helped if they had the information and resources, but this is just not true. Robotics and automation is just going to make it worse as well for those at the bottom. All the information in the world is available at our fingertips. Educate yourself and learn a skill, that's all I can suggest. Don't stop, and always keep trying to perfect yourself. It's not easy though, that's why you have to work hard just to be in the middle. I did the corporate thing and the cubicles, but have been 100% commission based, work from home for over 10 years. It taught me how to work hard and smart. Competition is steep out there, if you don't stand out, you are just another cog in the machine. At least here in America, you have a choice, regardless of what anyone says.

haven't i chased your white supremacist ass out of this section already?

 

[ttystikk]

Average car loan: $200/month
Average car insurance: $60/month
Average cell phone: $60/month
Average food bill: $400/month
Average rent: $800/month
Average utilities (including basic cable + internet): $300/month
Total of above: $1820/month
And that just for a single person living alone. And that's just the basics.

Working 40 hours a week at $11/hour = $440 - $70 taxes = $370 * 4 = $1480/month

No, $11/hour is not enough.

For all those who think anything under $15, and really, $18-20 an hour is acceptable, I say go try and live on it. And if you come up with an excuse instead of being ready, then don't ask another American to.

Skin color has nothing to do with it.

The simple fact of the matter is that the economy has shifted earning power away from the lower classes, dramatically magnifying the effects of both poverty on individuals and families and the power of the corporation and its owners to dictate the boundaries of their wage slave's lives.

It IS NOT like it was when anyone over thirty five was in college. Americans have been cheapened, and cheated out of their future. The donors of the right understand that if they lose their propaganda war, there will be hell to pay and the American People will come collecting. This certainly accounts for some of the wild eyed desperation of their positions and attitudes.

As a citizen, I feel that is my duty to see the right lose their war of lies and thievery, so that my daughter and her children can grow up in a land of opportunity.

 

[blackforest]

haven't i chased your white supremacist ass out of this section already?

LOL, scroll back a few years and see when I first addressed you.
I love it how your kind always brings up race, as if it has anything to do with what I posted. Is that really all you have? You do realize the race card expired in 2015 right?
Maybe you should call my black sister who was adopted in 1975, or my black niece who loves her 'white' family dearly. Tell my father the military chaplain or my mother the NP for the VA about our 'white supremacy'; How pathetic UB, you have no substance, only labels. I told no lies, it's a simple fact. For you to attack me shows me your character. I have trained plenty of successful people to do what I do for a living, but for every success is a dozen failures. I'm sure you know what I mean.

 

[see4]

Who ever mentioned refinance? Why would I want to do that? I already have a 3.5% interest rate. The FHA isn't going to stop charging monthly mortgage insurance for a minimum of 5 years. In my case, 20 months from now

You can't roll out of PMI on FHA loans, only way to get rid of PMI on FHA loans is to refinance out of them. Someone lied to you bro.

 

[londonfog]

You get to deduct the entire cost of employee's wages, SS tax, benefits, etc. SS and Medicare payments are employee's wages the government takes from the employee without consent, and requires the employer to hide that fact. SS is 6.2%. Unless you are self-employed, then it's 12.4% Because all taxes the employer pays on your wage come out of your pocket, not his. They just make it up by paying you less.

Guy I am an employer and you are full of shit.

 

[londonfog]

Average car loan: $200/month
Average car insurance: $60/month
Average cell phone: $60/month
Average food bill: $400/month
Average rent: $800/month
Average utilities (including basic cable + internet): $300/month
Total of above: $1820/month
And that just for a single person living alone. And that's just the basics.

Working 40 hours a week at $11/hour = $440 - $70 taxes = $370 * 4 = $1480/month

No, $11/hour is not enough.

Don't blame the employer because the cost of living is high. The employer still needs to operate with a profit margin or what is the sense of having a business. Now I'm not talking about your big business. I'm speaking on your mom and pop shops who are trying to make a living. 10.50 -12 .00 to me is acceptable minimum wage.
I would suggest that single person find a roommate and cut them cost. Also don't get complacent in life, strive to do better with education be it college or tech school. That way you won't be working a freaking minimum wage job for long. 32 years old at a minimum wage job speaks a lot for ones drive. I myself only worked at minimum wage when I was in highschool.
But again don't blame the employer because the cost of living is to high.

 

[Not GOP]

You can't roll out of PMI on FHA loans, only way to get rid of PMI on FHA loans is to refinance out of them. Someone lied to you bro.

LOL. You're mistaken. That would certainly be the case if my loan started after June, 2013, but it wasn't
I'm working right now, but if you still don't have it figured out in a few hours, I'll post you a link

 

[see4]

Don't blame the employer because the cost of living is high. The employer still needs to operate with a profit margin or what is the sense of having a business. Now I'm not talking about your big business. I'm speaking on your mom and pop shops who are trying to make a living. 10.50 -12 .00 to me is acceptable minimum wage.
I would suggest that single person find a roommate and cut them cost. Also don't get complacent in life, strive to do better with education be it college or tech school. That way you won't be working a freaking minimum wage job for long. 32 years old at a minimum wage job speaks a lot for ones drive. I myself only worked at minimum wage when I was in highschool.
But again don't blame the employer because the cost of living is to high.

I agree that the standard of living far exceeds minimum wage. I also agree that its not the small businesses fault that it got that way. I am merely pointing out that $11/hour, working 40 hours a week, is not enough for a single individual to live on without having to supplement their lives in some way.

As for small businesses; if it is a struggle to come up with a couple extra dollars an hour to pay their employees, maybe they should examine their workforce and cutback, maybe the owners should put in more effort into the business? Maybe the small business wasn't ready to expand? Adding $2.50/hour to an employees paycheck can mean the difference between not getting by and getting by. If a small business can't afford to do that, maybe they should consider not having that employee until they are ready.

 

[Uncle Ben]

Uhm, no. With an FHA you will need to refinance out of the FHA in order for you to "remove" your PMI. The likelihood you will get a conventional loan at 3.5% today is basically nil. The only way that can be done today is if you get a 15 year mortgage and drop down another 10-20% on your loan.

The FHA mortgage insurance agreement is between FHA and the mortgage company, so you must contact your mortgage company and ask them what they require to drop the insurance. Most mortgage companies will want you to have a substantial amount of equity in your home.

Being that our credit score is above 800 I doubt if I'd have any trouble refinancing and nailing a 3.5% rate.

Said it before, if folks haven't taken advantage of these historic low APR rates, they're really missing out on a golden opportunity.

 

[see4]

LOL. You're mistaken. That would certainly be the case if my loan started after June, 2013, but it wasn't
I'm working right now, but if you still don't have it figured out in a few hours, I'll post you a link

I'd be interested to see your information. I bought a house in 2009 with an FHA loan, and the terms were PMI for the life of the loan.

 

[Uncle Ben]

As for small businesses; if it is a struggle to come up with a couple extra dollars an hour to pay their employees, maybe they should examine their workforce and cutback, maybe the owners should put in more effort into the business?

You got it backwards. Maybe the worker needs to stop buying $100 Nikes, the latest cellphone and big screen TV.

The only thing a businessman should be concerned about it his bottom line - MONEY. Most employers are damn good to their employees, up to a point. If they aren't productive, are a burden, then the only choice is to cut them lose and find someone better.

Watch Shark Tank, get a taste of what risk, ingenuity, and hard work is all about.

 

[Uncle Ben]

I'd be interested to see your information. I bought a house in 2009 with an FHA loan, and the terms were PMI for the life of the loan.

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/comp/premiums/prem2001

You need to call up your mortgage company to see what their policy is. Should have done your homework BEFORE you signed the dotted line, not now.

 

[see4]

Being that our credit score is above 800 I doubt if I'd have any trouble refinancing and nailing a 3.5% rate.

Said it before, if folks haven't taken advantage of these historic low APR rates, they're really missing out on a golden opportunity.

I have a 760-ish credit score. The difference between 760 and 800 means hardly anything nothing in terms of rates. Once above 750, most everyone qualifies for the best available rates.
And yes, it is totally possible to get into a 3.5% rate today, you just have to get into a 15 year loan with more than 20% down. Currently, the best 30 year rates are 3.65% without paying points to get the rate down.

My Gilbert AZ house is 3.5%, but I bought that house 2 years ago. The house I bought last year has a 4% rate. Right now rates are bottoming out again, but we aren't quite at 3.5% yet without paying points.

 

[londonfog]

For all those who think anything under $15, and really, $18-20 an hour is acceptable, I say go try and live on it. And if you come up with an excuse instead of being ready, then don't ask another American to.

Skin color has nothing to do with it.

The simple fact of the matter is that the economy has shifted earning power away from the lower classes, dramatically magnifying the effects of both poverty on individuals and families and the power of the corporation and its owners to dictate the boundaries of their wage slave's lives.

It IS NOT like it was when anyone over thirty five was in college. Americans have been cheapened, and cheated out of their future. The donors of the right understand that if they lose their propaganda war, there will be hell to pay and the American People will come collecting. This certainly accounts for some of the wild eyed desperation of their positions and attitudes.

As a citizen, I feel that is my duty to see the right lose their war of lies and thievery, so that my daughter and her children can grow up in a land of opportunity.

18-20 as minimum wage . You killed small business.congratulation. I suggest we the people take a stand on the raising cost it takes to live.

 

[see4]

Watch Shark Tank, get a taste of what risk, ingenuity, and hard work is all about.

lol. That says it all right there.

Risk? I'm currently not getting paid as the startup I'm building is seeking funding. Thank goodness I played it smart and have residual income to work with.
Ingenuity? One of my businesses manufactures small firearms magazine extensions, several are patent pending. One of my other businesses aggregates users information across multiple sources and creates a relationship between the information and presents the most relevant information to that user with little user input. Artificial Intelligence.
Hard work? Bro, I work 70+ hours a week.

What I'm missing is shear luck and a trust fund.

 

[londonfog]

I agree that the standard of living far exceeds minimum wage. I also agree that its not the small businesses fault that it got that way. I am merely pointing out that $11/hour, working 40 hours a week, is not enough for a single individual to live on without having to supplement their lives in some way.

As for small businesses; if it is a struggle to come up with a couple extra dollars an hour to pay their employees, maybe they should examine their workforce and cutback, maybe the owners should put in more effort into the business? Maybe the small business wasn't ready to expand? Adding $2.50/hour to an employees paycheck can mean the difference between not getting by and getting by. If a small business can't afford to do that, maybe they should consider not having that employee until they are ready.

or maybe the employee needs to figure out what they can do in life to make a change. I stand firmly on 10.50 - 12.00 for minimum wage. 7.25 is crazy and wrong
But here is a thought, If you employ x amount of employees and your business brings in x amount profit you should be required to pay a certain amount for minimum wage. That way you can separate Wal-mart from your mom and pops shops.