Posted: 1/22/2009 4:20:00 PM EDT
|
I'm as sick of this as everyone else. But I have a real question about his first day in office.
My wife was on the phone with her Mom yesterday, and her Mom starts going off with "God Bless Obama" something about he past some law on the first day that will allow them to get a reverse mortgage or something like that. What law did he pass in the first day that would have any effect on them. Before you ask, my in-laws are not crazy (well not before any way) and have leaned to the right most of the time. My father in-law was in the Marines 66-71. He almost lost his leg three years ago and has been in and out of surgery since that time for related issues and has been on disablity. They have had their home one the market for 5 months and now pulled it off, because they have been "saved". |
| obama hasn't passed any laws, nor will he–– the legislature does such things. As for what Obama has done so far–– a few EOs regarding ethics rules for the executive branch (which I am actually VERY pleased with) and an orders to close gitmo and delay trials of captured terrorists (which I am VERY not pleased with) |
|
There have been HR's and SB's that want to expand those who qualify, but nothing has been signed into law.
Based on the data you provided, I think that your in-laws are acting foolishly. BTW, why would your in-laws need a reverse mortage anyway? There are better options. |
|
Quoted:
I'm as sick of this as everyone else. But I have a real question about his first day in office. My wife was on the phone with her Mom yesterday, and her Mom starts going off with "God Bless Obama" Someone said that at church last night. I walked out. Rush has it right, I don't want him to succeed. |
|
Quoted:
There have been HR's and SB's that want to expand those who qualify, but nothing has been signed into law. Based on the data you provided, I think that your in-laws are acting foolishly. BTW, why would your in-laws need a reverse mortage anyway? There are better options. Since he has been out of work they have been tapping into their savings and it is almost gone. They have had the home for sale but no real buyers. |
|
Quoted:
Quoted:
I'm as sick of this as everyone else. But I have a real question about his first day in office. My wife was on the phone with her Mom yesterday, and her Mom starts going off with "God Bless Obama" Someone said that at church last night. I walked out. Rush has it right, I don't want him to succeed. +1 |
|
Quoted:
Since he has been out of work they have been tapping into their savings and it is almost gone. They have had the home for sale but no real buyers. If they go down this route, the in-laws have to be 62 or older, own their house or be able to pay off their mortgage with the proceeds from the reverse loan, plus other things I've forgotten. Don't mean to get personal, but: 1) Does your MIL work? If not, why not? 2) What sort of work does your FIL do that he cannot find? 3) What sort of work is your FIL willing to do? 4) Have they attempted to economize, or have they continued to live their lives? Again, sorry if this is too personal for an open forum. |
|
I'll try not to be too specific. And they have been making every payment, they just know that the money will run out.
Quoted:
Quoted:
Since he has been out of work they have been tapping into their savings and it is almost gone. They have had the home for sale but no real buyers. If they go down this route, the in-laws have to be 62 or older, own their house or be able to pay off their mortgage with the proceeds from the reverse loan, plus other things I've forgotten. Don't mean to get personal, but: 1) Does your MIL work? If not, why not? No, retired several years ago. she is 68 and has been taking care of him. 2) What sort of work does your FIL do that he cannot find? He was a VP for a major banking company. Not a branch but the bank itself. 3) What sort of work is your FIL willing to do? Limited mobility and he is in and out of hospital and rehab, so holding steady work would be tough. 4) Have they attempted to economize, or have they continued to live their lives? I'm not sure how they have been managing their money. Again, sorry if this is too personal for an open forum. ETA: Taxes on their house are over 11,000 per year so they wanted to sell. They have dropped the price but no buyers. |
|
68 and still paying a mortgage, Wow.
$11 K is a lot in property taxes, but in some parts of the country that's about right. My parents pay $7,400/yr in property taxes for their acre of PA. They are 67 and still work. My Mom is a Geriatric Nurse, my Dad is an Engineer. Sorry to hear about his limited mobility. Pension? SSA payments? 401K? 403B? IMO, your in-laws need to economize and get out from this house, not try to find a way to stay in it. |
|
Quoted:
68 and still paying a mortgage, Wow. $11 K is a lot in property taxes, but in some parts of the country that's about right. My parents pay $7,400/yr in property taxes for their acre of PA. They are 67 and still work. My Mom is a Geriatric Nurse, my Dad is an Engineer. Sorry to hear about his limited mobility. Pension? SSA payments? 401K? 403B? IMO, your in-laws need to economize and get out from this house, not try to find a way to stay in it. Well they had none, but four years ago they did a major remodel on the house with a home equity loan. so they are only owing about 120k on a 660k house. But taxes, $300+ electric, $300+ heating bill every month is too much. And he is back in the hospital monday. This rough. And they did try to sell before they were "saved" it's a tough market out there now. |
|
Quoted:
I'm as sick of this as everyone else. But I have a real question about his first day in office. My wife was on the phone with her Mom yesterday, and her Mom starts going off with "God Bless Obama" something about he past some law on the first day that will allow them to get a reverse mortgage or something like that. What law did he pass in the first day that would have any effect on them. Before you ask, my in-laws are not crazy (well not before any way) and have leaned to the right most of the time. My father in-law was in the Marines 66-71. He almost lost his leg three years ago and has been in and out of surgery since that time for related issues and has been on disablity. They have had their home one the market for 5 months and now pulled it off, because they have been "saved". Someone's been scamming them... Reverse Mortgages are nothing new - they allow seniors to 'sell their house back' to the bank, in return for annuity payments.... Someone has called them with an obama-invoking sales pitch.... Just like the folks who get on the TV/radio every day telling people that the Fed 'just lowered interest rates' (or that 'rates are about to go up).... |
|
Quoted:
Quoted:
There have been HR's and SB's that want to expand those who qualify, but nothing has been signed into law. Based on the data you provided, I think that your in-laws are acting foolishly. BTW, why would your in-laws need a reverse mortage anyway? There are better options. Since he has been out of work they have been tapping into their savings and it is almost gone. They have had the home for sale but no real buyers. Sounds like they have got themselves in a financial situation and now want the government to fix it for them. Kind of reminds me of that lady who was so happy because she would no longer have to worry about her mortgage payment or putting gas in her car if Obama won the presidency. This is precisely the "victim" mentality that is driving this country toward socialism. 
|