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Subject: persfin-digest V4 #146
Date: Mon, 6 Apr 1998 19:04:16 -0400 (EDT)
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persfin-digest Monday, April 6 1998 Volume 04 : Number 146
IN THIS ISSUE:
ADVERTISEMENT: domain TNG
Re: Home Equity Loan and Divorce? You've Been Had!
Re: Double Charge in Refinance Interest?
Re: selling stocks?
How Do I Purchase Strips, T-Bills, T-bonds
Re: Home Equity Loan and Divorce?
Home Equity Loan and Divorce
double charge on refinance
Long distance phone service
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Date: Mon, 6 Apr 1998 18:50:16 -0400 (EDT)
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------------------------------
Date: Mon, 6 Apr 1998 18:51:08 -0400 (EDT)
From: DBONWEB <DBONWEB@aol.com>
Subject: Re: Home Equity Loan and Divorce? You've Been Had!
It sounds like you been had! He has already taken the money and run.
You cannot remove someone from a note or mortgage. The only way to get
that mortgage off your house is for him to get a "new" loan, be it a
second mortgage, home equity, personal loan, etc. It doesn't matter what
"kind" of loan as long as it is a new loan paying off the balance of the
home equity loan on your house.
Otherwise your looking at liquidating "both" homes to resolve, unless he
has good enough credit to pay off the equity loan. Can he get credit card
advances?
Good luck...and talk to "your" attorney. (David Bolick)
------------------------------
Date: Mon, 6 Apr 1998 18:51:35 -0400 (EDT)
From: DBONWEB <DBONWEB@aol.com>
Subject: Re: Double Charge in Refinance Interest?
You never pay for double interest. You need to get a refund!
David Bolick
------------------------------
Date: Mon, 6 Apr 1998 18:53:10 -0400 (EDT)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: selling stocks?
You'll have to get new certificates, since you'll be unable to settle
any trade without delivering the certificates. Contact the transfer
agents (the Chevron stock will list the transfer agent, call IBM
investor relations to get the transfer agent info for them) and see
what the procedure is to replace lost certificates. In general you'll
have to sign some sort of affadavit saying that the certificates were
lost and will probably have to post a bond equal to some %age of the
value of the lost shares. The transfer agents can give you exact
instructions.
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Mon, 6 Apr 1998 18:53:35 -0400 (EDT)
From: Jerry Conley <jcrev@ncn.net>
Subject: How Do I Purchase Strips, T-Bills, T-bonds
I want to diversify my assets and provide some protection against inflation
and depression. According to one source a good way to hedge some opn
depression is to get about 15-20% invested in T-Bills, 30 Year Treasury
Bonds, and "Strips." I have been trading stocks and buying in and out of
Mutual Funds for years but have never purchased "strips" T-Bills or
Treasury Bonds, how and where is the best place to make these purchases?
Are there any good mutual funds that invest only in these instruments?
Jerry
------------------------------
Date: Mon, 6 Apr 1998 18:54:28 -0400 (EDT)
From: "Jackson, Anthony D." <JacksAD1@central.ssd.jhuapl.edu>
Subject: Re: Home Equity Loan and Divorce?
Jill,
Jill the best way to clear yourself is to have him pay it off.
You don't want to have the property that you live in tied to your ex
making payments. What can be done is that he can take a second on the
house that he will get to pay off the HE loan on the house that you get.
Sometime it's up to the mortgage company in the case where both of your
names are on the loan. Unless you completely payoff the loan you will
still be liable for the note. If he doesn't pay they can foreclose on
your house.
"TJ"
------------------------------
Date: Mon, 6 Apr 1998 18:56:27 -0400 (EDT)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: Home Equity Loan and Divorce
JILL
I wish I could give you a good answer to your problem but there is no
easy answer. There are only 2 ways to get relieved of the responsibility
for the home equity loan. One way is to pay off the loan. The other is
to substitute other collateral for the loan. This means that another home
or property will be the collateral for the loan. From what you describe,
this does not seem possible.
>From the lenders point of view, the house itself is responsible for the
payments on the loan. If the payments are not made, the lender will take
the house.
In my state (California) that is all the lender can do on a trustee
foreclosure. They can not try to collect the debt from you personally.
Other state laws may be different. Check with you attorney on this.
The best solution is to have your soon to be ex husband give you a note
secured by a mortgage/trust deed on the home he will be living in the
exact amount and terms of your home equity loan. The payments would be
the same as your home equity loan. He would make the payments to you and
you would make the payments on your home equity loan. This way you will
be sure the payments on the home equity loan are being made.
If you need more information, let me know.
GOOD LUCK
BOB FORD
BOB_FORD@COMPUSERVE.COM
------------------------------
Date: Mon, 6 Apr 1998 18:57:17 -0400 (EDT)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: double charge on refinance
>From: Jackie Chen <jackie_s_chen@yahoo.com>
>Subject: Double Charge in Refinance Interest?
>Hi,
>I browsed thru my recent refinance cost statement. Just curious what
>the general practice is regarding the interest charge.
>Assume that Lender-A was my old mortgage lender, and Lender-B is the
>new one.
>The refinance interest charge:
>Lender-A 03/01/98-03/31/98: 31 days x $40/day = $1,240.
>Lender-B 03/26/98-03/31/98: 6 days x $30/day = $ 180.
>The loan from Lender-A was paid off on 03/26/98, and apparently from
>03/26/98 to 03/31/98 I pay both Lender-A and Lender-B mortgage interest.
>Is that a normal practice that you'll get double charge during the
>refinance payoff period?
>Thanks.
JACKIE
What you describe is a common practice but the practice is wrong. Contact
lender A and ask for the interest back they charged you after the loan was
paid off.
If they will not give it back, take them to small claims court.
GOOD LUCK
BOB FORD
BOB_FORD@COMPUSERVE.COM
------------------------------
Date: Mon, 6 Apr 1998 18:57:51 -0400 (EDT)
From: eric <eric_marcus@compuserve.com>
Subject: Long distance phone service
I have Vartec" 10 cents/ min out of state, 5 cents/min intrastate THree
minute minimum. $5 monthly charge. Who has a 9 cents/ min service ( using
the 5 digit pre-dial code)?
------------------------------
End of persfin-digest V4 #146
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