Does anybody even deduct interest anymore? I think most people are just taking the standard deduction these days. And even before the change in the tax code I was only deducting interest like once every 3 or 4 years as I just didn’t have enough other deductions to make itemizing better most years.
I still itemize, but the SALT limitation makes it far less beneficial. For people who give heavily to charity, it is still possible to come out way ahead by itemizing.
My tax returns went way up when I bought a house. So I assume I’m deducting mortgage interest. Does the standard deduction take into account home ownership somehow?
No, you (or your accountant) should be doing the taxes both ways and then going with whatever works out in your favor.
I have a broker I"ve used a few times and am currently refinancing through. I have a 30-year in process at 2.75%. 15 year was 2.375. I can send his name in a PM if you want. I know for sure he does WA and CA, not sure where else he’s licensed.
I might be interested as well, as long as you are happy with the guy and the loan servicer you’re ending up with.
Optional backstory: When I bought my house I used an “independent” (I guess) mortgage broker and ended up with GMAC as my servicer. Well, they went out of business and my loan ended up with a new company. That company went through some tough times and reorganized/renamed itself to something different. Then they went bankrupt and now my loan is with a third (or maybe fourth) company.
Well, all that was really annoying, so whenever I think about refinancing I want to go with my credit union. But I look at them and their rates are not anywhere close to competitive.
So I’ve kind of ended up in analysis paralysis because I want to give my business to a decent outfit but not at the cost of possibly tens of thousands of dollars. Now though, the potential savings seem like they could be high enough that I would be willing to go with someone else as long as they weren’t a complete garbage company.
I guess I’d welcome any tips people have for getting a refi with a good rate, without paying out the ass for closing costs, from a decent company.
They held on to my loan without selling it. I assume they’ll keep it forever but who knows.
Since there’s multiple people interested, here’s his info:
James Carrol
NMLS: 358144
p: 949.270.7969
f: 844.446.3419
e: jcarroll@myndm.com
His Zillow review page is here:
Their fees are reasonable. The loan origination and underwriting fees for my $270,000 refi are $1450 + title services, which I’ll get locally because it’s cheaper.
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I feel like my loan has been sold or moved to 3 different companies in the 3 years I’ve had it, is that normal? It’s annoying having to set up a new mortgage payment account every year
Which he does. I just don’t know what we’re doing. But I do know that the mortgage interest made a big difference. But then again this was 2014 before the new tax laws.
It probably made a huge difference then. Especially if you had high state and local taxes (CA right?) and other deductions. You probably ended up deducting all of your mortgage interest back then.
Mine has been the same servicer since I started with this guy a few years ago.
I’m actually going from a 15 year to a 30 year because I want the flexibility of paying less if things get completely fucked up regarding my job or my wife’s.
Update: Meeting with the lawyer Monday, I guess it’s a good sign that he wants to meet. Unfortunately he was pretty adamant about doing it in person, so I’ve gotta mask up and go with it.
Having a hell of a time finding a house. Apparently a single male renting a 2 or 3 bedroom house is sketchy as fuck, and the ones who have gotten to the point of finding out my profession have been more sketched out. You’d think someone with a good credit score and money in the bank would be a hell of a get right now, but I’m actually getting a small taste of what it’s like to be discriminated against - which I wish all white males had to experience just once in their lives. It fucking sucks.
My friend put me in touch with a realtor, so she’s helping me now. Hopefully that makes me seem more serious, because as it stands I’ve only been able to even get one showing of one house and it was the lady that strung me along and screwed me.
If her help doesn’t work, I guess I will be forced to rent another apartment from another management company, which is really frustrating. So far, the market is telling me I’m not a desirable tenant for a house or townhouse.
I’ve got a feeling the realtor will actually help. Every experience I’ve ever had with a realtor sourced rental has been good.
I hope so. It definitely doesn’t feel like I have AA anymore… Feels more like I just 3b 97s and got min 4b.
Yeah it’s more that we’ve now seen the flop and the turn and they’re super super live.
Seems like the stars are aligning to leave Philadelphia!
Move to Austin or Florida. Landlords will take your cash, and the games are way better.
This guy gets it lol
I don’t think he wants to play live, so, hello, New Jersey!
Watch this guy’s videos. The games in Texas are some 2004 Party Poker level FREE MONEY.
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Yeah as it turns out lots of dumb renters are keen on moving into my current building, lots of smart people are moving out of the city and making the housing market in the suburbs spike, and a single male who plays poker for a living is not a desirable renter.
I’m not sure about the games being way better than my private game.
Not during the pandemic but I’ll be back a mostly live player after.