Have you owned a business/company?

[see4]

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/comp/premiums/prem2001

You need to call up your mortgage company to see what their policy is. Should have done your homework BEFORE you signed the dotted line, not now.

Please note, IF THE MORTGAGE IS PAID IN FULL BEFORE THE MATURITY DATE.

Not GOP is stipulating he can simply stop paying his PMI once he reaches 80% or 78% loan-to-value. I am saying that is not true.

 

[see4]

or maybe the employee needs to figure out what they can do in life to make a change. I stand firmly on 10.50 - 12.00 for minimum wage. 7.25 is crazy and wrong
But here is a thought, If you employ x amount of employees and your business brings in x amount profit you should be required to pay a certain amount for minimum wage. That way you can separate Wal-mart from your mom and pops shops.

I like the idea of progressive minimum wage, based on company earnings.

I also like the idea of shooting all Wal-Mart executives in the face, twice. And then burning all Wal-Marts across the world down to the ground.

 

[londonfog]

I like the idea of progressive minimum wage, based on company earnings.

I also like the idea of shooting all Wal-Mart executives in the face, twice. And then burning all Wal-Marts across the world down to the ground.

I have to admit that I do shop at Walmart. I hate how they pay their employees.

 

[see4]

I have to admit that I do shop at Walmart. I hate how they pay their employees.

They ruin small business. I avoid Wal-Mart at all costs. I much much prefer Amazon, they at least support small business.

 

[Not GOP]

I'd be interested to see your information. I bought a house in 2009 with an FHA loan, and the terms were PMI for the life of the loan.

I have spoken with several experts, including my lender, and they all tell me the same thing. After 5 years, the mortgage insurance is automatically removed, assuming you've paid off 22% or more of the loan

https://www.michaeladeery.com/blog/how-to-cancel-fha-mortgage-insurance-if-you-bought-a-home-prior-to-june-2013/

 

[NLXSK1]

I have spoken with several experts, including my lender, and they all tell me the same thing. After 5 years, the mortgage insurance is automatically removed, assuming you've paid off 22% or more of the loan

https://www.michaeladeery.com/blog/how-to-cancel-fha-mortgage-insurance-if-you-bought-a-home-prior-to-june-2013/

if you say you have a 5 year pay penalty I believe you.

 

[Not GOP]

if you say you have a 5 year pay penalty I believe you.

Thanks, but it's not a penalty. It's simply the terms of the contract

 

[see4]

I have spoken with several experts, including my lender, and they all tell me the same thing. After 5 years, the mortgage insurance is automatically removed, assuming you've paid off 22% or more of the loan

https://www.michaeladeery.com/blog/how-to-cancel-fha-mortgage-insurance-if-you-bought-a-home-prior-to-june-2013/

That's interesting. If you don't mind me asking, what lender did you go through?

 

[Not GOP]

That's interesting. If you don't mind me asking, what lender did you go through?

It doesn't matter which lender I went through.

Just one more thing. I see you refer to mortgage insurance on your FHA loan as (PMI) private mortgage insurance
Maybe I'm just splitting hairs here, but it's not private insurance if it's paid directly to the Federal Housing Authority.

 

[NLXSK1]

Thanks, but it's not a penalty. It's simply the terms of the contract

PMI doesnt have to pay beyond 20%. You have to pay for 5 years regardless. I view it as a penalty. Can you even pay the loan off before 5 years?

 

[see4]

It doesn't matter which lender I went through.

Just one more thing. I see you refer to mortgage insurance on your FHA loan as (PMI) private mortgage insurance
Maybe I'm just splitting hairs here, but it's not private insurance if it's paid directly to the Federal Housing Authority.

It does matter. FHA loans are agreements between FHA and the mortgage lender, not between FHA and the borrower.

Yea, MI & PMI are virtually the same thing.

 

[Not GOP]

It does matter. FHA loans are agreements between FHA and the mortgage lender, not between FHA and the borrower.

Yea, MI & PMI are virtually the same thing.

Do you have any sources on how that relates to mortgage insurance?

The reason why it doesn't matter, is because the rules changed June, 2013. If you were to get an FHA loan right now, you would be paying MI to the FHA (not a private company) for the entire life of the loan, or until you refinance to a conventional loan.

 

[NLXSK1]

Do you have any sources on how that relates to mortgage insurance?

The reason why it doesn't matter, is because the rules changed June, 2013. If you were to get an FHA loan right now, you would be paying MI to the FHA (not a private company) for the entire life of the loan, or until you refinance to a conventional loan.

How long before the Democrats call that racist?

 

[Not GOP]

How long before the Democrats call that racist?

Not sure, but my colors are red, white, and blue. I'm looking forward to the day Obama leaves office, so I can raise the American flag once again.

 

[Not GOP]

PMI doesnt have to pay beyond 20%. You have to pay for 5 years regardless. I view it as a penalty. Can you even pay the loan off before 5 years?

Mortgage insurance is not a penalty.
You can pay the loan off as fast as you want.
There is no prepayment penalty either.

 

[ttystikk]

18-20 as minimum wage . You killed small business.congratulation. I suggest we the people take a stand on the raising cost it takes to live.

Lol, you completely forget that if EVERYONE is paying the higher wage, you'll continue to get customers at the higher price- what, 5%?- because they'll also continue to be able to afford it. You'll likely get many more customers than it takes to merely offset the difference.

Unless you begrudge people the ability to actually LIVE on their wages, surely you can find a way to absorb a 5% increase in total cost?

I'm sorry, but this basically selfish attitude is at the heart of the 'tragedy of the Commons' our society is currently suffering through. It's only in YOUR self interest to underpay your workers but since everyone is doing so, it's an aggregate brake on the economy.

 

[ttystikk]

lol. That says it all right there.

Risk? I'm currently not getting paid as the startup I'm building is seeking funding. Thank goodness I played it smart and have residual income to work with.
Ingenuity? One of my businesses manufactures small firearms magazine extensions, several are patent pending. One of my other businesses aggregates users information across multiple sources and creates a relationship between the information and presents the most relevant information to that user with little user input. Artificial Intelligence.
Hard work? Bro, I work 70+ hours a week.

What I'm missing is shear luck and a trust fund.

I've seen the results of sheer luck and/or a trust fund. They totally aren't worth it.

 

[ttystikk]

I have to admit that I do shop at Walmart. I hate how they pay their employees.

That's why we change the MINIMUM WAGE laws among others, so everyone gets a level playing field. As it stands, Walmart gets massive subsidies not available to small business. This is criminal.

 

[Not GOP]

That's why we change the MINIMUM WAGE laws among others, so everyone gets a level playing field. As it stands, Walmart gets massive subsidies not available to small business. This is criminal.

define "level playing field"

 

[see4]

Not sure, but my colors are red, white, and blue. I'm looking forward to the day Obama leaves office, so I can raise the American flag once again.

Is it Obama specifically? That would be kinda racist.
Is it because he is a Democrat? That would be unpatriotic.