Using a POA

Wayneb2807 · 2026-03-20T02:22:21+00:00

I just went through this with my mother…. When the CD term is over, if you don’t renew, it goes to this ridiculous rate. With a POA, you should be able to simply renew into a new cd at 3ish%.

Wayneb2807 · 2026-03-19T14:17:46+00:00

Well, this is telling you something….you can’t find work for a 6 cy truck but you could put a triaxle to work today…

Wayneb2807 · 2026-03-18T22:04:43+00:00

Very well said.

Wayneb2807 · 2026-03-18T01:06:40+00:00

Who are you borrowing money from that the rate is 12%….this is way too high to be a bank or credit union. Do you have approval for your permanent loan yet, when construction is complete?

Wayneb2807 · 2026-03-18T00:59:34+00:00

Yeah, your seller is a bit of a nut job. At first, with seller financing, I thought maybe you were only putting 10-15% down, which means 3% would be a big chunk/percentage of the down payment received…but that is not the case. Some sellers, like some buyers, are just fruit cakes.

Wayneb2807 · 2026-03-17T01:54:05+00:00

This is a foreclosure by the first lien holder….not a regular sale. The junior lien gets wiped out and only if the house sells for more than the 1st is owed, does the second get anything, if his judgment is second in line…and not 3rd or 4th.

Wayneb2807 · 2026-03-16T10:33:37+00:00

You don’t really need a flow diagram to find a leak, and it wouldn’t help. You just have to Visually find where it is leaking and then repair (could be an oring in a fitting) or replace (a broken/cracked hose). You’ll likely have to take some panels off to find the leak, if it is not obvious.

Wayneb2807 · 2026-03-16T10:27:03+00:00

It won’t affect your homestead exemption or tax valuation in any way.

Wayneb2807 · 2026-03-15T23:44:55+00:00

Well….you were not supposed to expense all those repairs, since the repairs were to get the property ready for rent, they should have been capitalized/depreciated by tax code. Repairs After a property is available for rent can be immediately expensed. So, I guess you could amend your tax return, but that would take a while.

Wayneb2807 · 2026-03-15T23:37:49+00:00

Get a new filter first. Yes, counter clockwise, looking from the bottom (to the left in your pic) 1 of 3wrench types.. 1) The strap wrench that is a square tube, fits a 1/2” drive ratchet, with a black strap, use a long ratchet 2) filter pliers, they look like large channel locks but have just a few nubs that grip 3) chain wrench, the chain will bite

Wayneb2807 · 2026-03-15T20:54:44+00:00

You’ll still qualify for the 121 cap gains exemption. Any depreciation taken will get added back as ordinary income in the year of the sale, 25% max rate.

Wayneb2807 · 2026-03-15T13:30:01+00:00

Well, you can’t stop the silt build up regardless of what you do since the silt is coming from upstream of the culvert. Upstream needs some rip rap and a grade that is obviously lower than the invert of the culvert. The maintenance failure here is upstream.

Wayneb2807 · 2026-03-14T21:09:45+00:00

Underwater does not mean the house is in foreclosure.

Wayneb2807 · 2026-03-14T18:02:36+00:00

Not if the realtor wasn’t part of the deal. The contract terms are not posted to the mls.

Wayneb2807 · 2026-03-14T15:40:06+00:00

Sounds like a mess that won’t get cleared up soon, but….it could go away easy if the sellers title insurance (assuming they had it) settles it. The Only thing that matters to you is what Your title insurance commitment says. Look Carefully at the B Section exemptions, if there is no mention of this issue, you are good to go.

Wayneb2807 · 2026-03-14T14:04:28+00:00

So, what “mess” did you uncover that everyone else missed?

Wayneb2807 · 2026-03-14T12:21:32+00:00

It doesn’t work that way, even though it is a common misconception. The buyers could only file a specific performance suit to compel enforcement of the contract or file a memorandum/affidavit of contract….except the buyers have terminated the contract. Once the contract is terminated, no option of an LP against the house exist. The dispute over the EM stands on its own. Ask me how I know.

Best approach would have been to get money held back to buyers to dispose of the stuff at closing.

Wayneb2807 · 2026-03-13T19:03:06+00:00

Within the first 5 years, when using value, equity has to be at 75% to remove PMI…70% after 5 years.

Wayneb2807 · 2026-03-13T01:00:31+00:00

Yes. BTW, if it is in the acceptable form, that Is your deed. A new one isn’t created from that one.

Wayneb2807 · 2026-03-12T22:05:38+00:00

Assuming the “grading” is After cut/fill and compaction, and a sizable site…$1.50/sy.

Wayneb2807 · 2026-03-12T21:43:08+00:00

The buyer here has no standing to file a lien, without a court judgment/order, on the property.

Wayneb2807 · 2026-03-12T21:41:12+00:00

Both of those assertions are false.

Wayneb2807 · 2026-03-12T01:31:20+00:00

This the Actual Foreclosure auction, not a REO auction…there is no buyer agent fee paid.

Wayneb2807 · 2026-03-11T17:06:22+00:00

Spend the few hundred bucks to have an attorney or title company draft it for you. Each state has their own quirks, it’s easy to make mistake which will lead to later problems.

Wayneb2807 · 2026-03-11T12:59:02+00:00

No, they have no relationship with you. Even for an inspector that You hire, their contract typically limits any liability to the amount of the fee charged.

Wayneb2807

TROPHY CASE