All Forum Posts by: Account Closed

That theoretical 20 year old you envy may have a short life while you can be alive for 50 more years.  There is no reason to think 50 is too late.

What is missing from your calculation is a real understanding of risk.  Sometimes risk shows up, and if it does show up for you (and for me....similar ages) there may not be enough runway left for you to recover.  You will want to offset this risk somehow.

Any advice given without knowing your personal risk tolerance is meaningless at best and possibly harmful.  Do you even need to take risk at this point in your life?

To answer your specific question, if the disability is mental or developmental he may be legally incompetent and unable to bind himself by contract; in this case your lease.  

Is the other tenant his legal guardian?

Deleted...reread the OP and my response was not helpful.

@Antonio Lunato, don't give up.  It may just be time to move on to private or hard money folks who are willing to work with you if the project's numbers add up rather than your personal credit score.

Let's not kid ourselves; banks are probably the worst funding partners we could have.  They have little flexibility and even less imagination.  Their customer service is terrible, their balance sheets atrocious, and, in their spare time, they have become the Barney Fifes of the financial crimes enforcement world.  

It is ironic they are concerned with your credit profile from 6 years ago.  They were just exiting bankruptcy themselves; the beneficiaries of a tax burden placed on future generations.  And while you are out there trying to better your situation, they haven't changed their former ways at all.  

OK, rant over...good luck to you.

I predict this will end with Jay running teams of Lyft drivers across the county.

The loan can certainly be used. However, technically the loan needs to be disclosed to your lender and the lender determines whether or not the payment will count against your DTI based on their overlay.

Please let me know if Newport would work....probably too far but I know a place that fits your requirements.

I know someone looking for a primary residence in Burke that is willing to renovate.  If you PM me the address and your contact info I will pass it to them.  

I get nothing for this...just helping a friend.

No joke, a few days ago while walking the dog and listening to the BP podcast I found $3.00 on the ground.  

File this under the category of "things they don't mention at the guru boot camp."