All Forum Posts by: Eric W.

I'm 31 make 100k a year with zero debt other than my mortgage. Contribute 12% of paycheck to my TSP account. Wife stay at home mom so only 1 paycheck. Other than just working earning a paycheck and saving I'm not to sure what to do to really get to the next level of wealth generation. I feel like we're doing good but just kind of stuck in same routine. I have a personal trading account with little over 30k but I'm very conservative with it and typically when I profit it's only about 100-500$ a trade or a few thousand a year, but I rarely ever lose money. I lean more risk averse and don't "YOLO" calls etc. but rather invest in good fundamental companies that pay dividends. Hesitant to pile into the market cause I know it's all being held up artificially by the fed and a handful of tech.

I’ve looked into real estate multiple times but I never know how to really get started in that and seems like to really be successful you need to have the capital upfront to not open a second mortgage. Plus I don’t have any experience in the property management aspect. So that’s what always throws me off the train.

In your opinion is it really just stocks and real estate? What else can be done to generate wealth.

I have 2.875% VA 30yr. The 210 day seasoning period ends 11/28. A lender I called will lock me in at 2.25 rate with a closing day of 11/28. Should I do this? I'm hesitant because it's a long lock period and also over an election. Additionally the timing of when my property taxes comes out of my current escrow account falls somewhere right in all this closing process.

Is it worth it or should I wait till after the election and seasoning period? 

I currently have a 285k mortgage 

Wow in Ca?? I thought that was considered essential?  

So far both the lender and title seem to indicate they can handle remote work at least on my buying side. On the other end me selling my home, the appraiser just came by yesterday so I know so far that end is still moving along. 

I’m very worried about losing the rate lock because I locked a 2.875 rate and my lender told me yesterday rates are no 4.75 with points. That would make a huge difference for me.  

I’m hoping they will allow real estate transactions to keep moving a long even if we get into a more substantial shut down situation. 

For you pros in Texas, do you see the situation impacting closings anytime soon? Set to close in less than 2 weeks 

Just saw what PA did and has me super nervous: Set to close 3/31 and desperately trying to get it moved up to ASAP. My loan is approved, option periods are over, inspections done, appraisals done...were pretty much at the finish line. I Locked a ridiculously good rate and am panicking something might happen to set back the process and rate lock. 

The title company website has a message on their site saying they will be able to work no matter what including remotely, and have access to notary all over. My lender said they have remote available too.

I also have a buyer for my house set to close in early April, that deal is out of option period and past inspection/appraisal as well.

Is anyone else in Texas in a similar situation that has gotten any info on how this all might play out here? I wasn’t to worried before but after hearing the PA news and CA stay at home I’m worried now

Thanks for the replies, I ended up just locking didn’t want to get greedy

Should I lock this? VA 30 year 2.875% with .125 pts. My lender is suggesting I float at least a few more days as he believes rates should go lower Or points go away. I could also get a credit with same or lower rate rather than paying the small point. I don't wanna get to greedy by waiting though so am leaning toward locking now