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4 April 2024 | 8 replies
Our Pigeon Forge 6 bedroom cabin is booking up very well throughout the year.I just want to get the unbooked days and weeks booked.We have a big fat mortgage to pay!
5 April 2024 | 6 replies
I've also come across an article authored by a renowned attorney in Illinois Condominium Law (https://www.cai-illinois.org/liability-condo-associations-damages-caused-failure-common-elements/) which states that since the association neglected to address the masonry issue, which is a common element, they bear responsibility for damages to the limited common element and the interior as well.
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6 April 2024 | 7 replies
I don't know about challenges they face, but one thing I'll say is commonly overlooked is sensitivity.
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6 April 2024 | 7 replies
Protect your asset.As @Ali Radoncic mentions, foundation issues are common.
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8 April 2024 | 35 replies
Here are some examples based on common interest rates:At 5% interest rate:Monthly payment for 40 years interest-only = $2,083At 6% interest rate:Monthly payment for 40 years interest-only = $2,500At 7% interest rate:Monthly payment for 40 years interest-only = $2,917--------so 40Y 10YARM vs 40Y IO: $1 LOL :)----------------------------------draw amortization chart for 30YFRM with 7% rate every year for $500,000 loanHere is an amortization chart for a 30-year fixed-rate mortgage (30YFRM) with a 7% interest rate on a $500,000 loan:YearBeginning BalanceMonthly PaymentInterest PaidPrincipal PaidEnding Balance1$500,000$3,326.98$35,000$5,369.82$494,630.182$494,630.18$3,326.98$34,624.11$5,745.73$488,884.453$488,884.45$3,326.98$34,221.91$6,147.93$482,736.52--------------draw amortization chart for 40Y Interest only with 7% rate for $500,000 loanTo calculate the amortization schedule for a 40-year interest-only mortgage with a 7% interest rate and a $500,000 loan amount, we can use the following steps:During the interest-only period (first 10 years):Monthly payment = $2,916.67 (7% annual interest rate / 12 months)Total interest paid in the first 10 years = $291,667 (2,916.67 x 12 months x 10 years)Loan balance remains at $500,000 during the interest-only periodAfter the interest-only period (remaining 30 years):Monthly payment = $3,326.89 (calculated using the standard mortgage payment formula with a 30-year amortization period and 7% interest rate)Total interest paid in the remaining 30 years = $496,869Total interest paid over the full 40-year term = $788,536Loan balance at the end of the 40-year term = $0 (fully amortized)The full amortization schedule would look like this:YearInterest-Only PaymentPrincipal ReductionLoan Balance1-10$2,916.67$0$500,000------------so if you use 30YFRM an sell within 3 years; you are making additional 18k profit guaranteed compare to 40Y IO.
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5 April 2024 | 2 replies
was the common question.
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5 April 2024 | 0 replies
Is it common to withhold retention from the general contractor payments until lean release is obtained from the sub performing the work?
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5 April 2024 | 5 replies
It is common that sometime floodplain maps are not always up-to-date based on current conditions, and thus you site may actually be above the floodplain elevation.
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5 April 2024 | 7 replies
Like the sheriff said, it's common sense and not a civil issue.
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5 April 2024 | 15 replies
If its there, I can sincerely tell you itś not common.