All Forum Posts by: Katherine S.

@Kimberly Weatherford I've learned a lot from my dad over the years, but perhaps the best advice he has given me is to always be prepared to walk away from a bad deal.

And that applies to real estate agents who don't know what they're talking about.  Everything is negotiable.

Congratulations, Christian!  We're just starting too and I think I have that same bug!  Just had an offer accepted Tuesday, we haven't even gotten the inspection done yet, and I'm already looking for the next one.

@Levi T. I take your point. Personally, I keep going back and forth about this issue, looking at the pros and cons. I'm at the beginning of this journey, and right now I'm relying on the conforming loans to finance my budding empire, and keep reading that an LLC complicates that aspect. And, with the amount of information that is not only public, but easily accessed via the internet, it would take even your plaintiff's woeful attorney only a few seconds to find out my name as the owner of the LLC as well as past owner of the property now held in that LLC. So, I'd get sued personally anyway, whether an improper party or not.

I've also read that good insurance and a good umbrella policy should provide sufficient protection under most circumstances.  And if it's under extraordinary circumstances, everybody who's ever set foot on your property is going to get sued anyway.

So, I remain both confused and unconvinced.  Perhaps once I reach the point of needing commercial financing I will switch.

@Levi T. Would your case have been dismissed if the plaintiff had initially named the correct entity? I don't quite see how the LLC saved you from going to court. Whether you held the property personally, or in the LLC, you got sued and had to deal with it. You were in the right, so presumably, you would have won either way. It was the plaintiff's mistake, not your corporate veil, that terminated this case. Now, if you had lost with the LLC, then I would agree the veil would have protected you personally.

It's a good thing you weren't using the outhouse when the siege began!  ;)

@Keith Jourdan Nice job!  But I'm surprised you didn't decide to keep the black walls with red trim! ;)

@Steve Porcello Be sure you find out about the adverse possession laws in your state.

I seem to remember that you had to pay PMI for a minimum of 5 years, despite how much equity you had. The only way to get rid of it was to refinance. Has this been changed?

I think they will want you to explain any large cash deposits that arrived in the last 60 days or so.  I've had to show a paper trail of where funds came from within my own accounts, for example, repaying myself for kids' college expenses out of their 529 plans.

My why is my health, specifically being in a wheelchair.  I don't want to bankrupt my husband, and I've already spent two incredibly long weeks in a so-called "skilled nursing facility".  No thanks, never again.  At least not until I'm not A&O enough to care.