Abouttbaarr Expertise Questions related to credit card management
and use of credit to achieve your financial goals
I have found on google that my screename has been linked to some garbage
financial sites, that I have nothing to do with
Please ask me to verify this if you are not sure
and let me know who is making any claims so i can sue their asses off
this is my website or my blog
http://www.geocities.com/tbaarr/night_vision.html
http://www.tbaarr.blogspot.com/
Experience i own over 10 credit cards
8 of these have credit limits over 10k and i use 2 of them to invest with
i have the balance as a fixed life of the loan balance transfer
and make 10 points profit on the money
Organizations none
I retired doing this in 1996
and wish to pass on my experience.
BE aware I got married in 1998 and started Driving Rig in 2004 so that I could get affordable quality Heath insurance for my family as I now have 2 beautiful daughters 4 and 8 as of aug 2007, so I may take longer to answer som questions.
i cover such subjects as,
my approach to credit,
how to establish and maintain multiple accounts,
how i get single digit life of the loan balance transfers,
how i use their money for 45 days interest free,
how i use credit cards to invest for 30% a year profit,
and how i maintain a 650+ credit rating while holding 5 or more accounts.
I challege anyone have me compare any answer, that suze orman gives on her tv show,
to what i would suggest
as i find her answers just plain incompetant,
especially when she states that borrowing money from an ira causes you to pay double taxation.
Thats just plain wrong
Question Hello! I need an outsiders perspective. I am 31 yrs old, a stay at home mom living in Sherwood, OR. My husband is 37 and works as a global IT business analyst so he does a lot of traveling. He makes about 68,000 per year. We bought a home in 2002 for 175,000 in Sherwood and sold it out of fear as the market was rising, (of course my husband was making a lot less back then) we wanted to take advantage of the money and sold in 2004 for 219,000(big mistake as the market rose much higher). In 2005 we bought a home in Tigard OR when the market was booming and loans were being thrown left and right at us. We bought during the height of the market at 350,000. I got pregnant, had a baby, quit my job to stay at home and so we had to sell our large lovely overpriced home. We went under because it sold for less than we owed, we had 2 separate interest only loans…. Terrible that we got suckered into it!!! No wonder the nation is having problems! We now have a 30,0000 dollar debt and no money to put down on a home right now. Oregon has not gone down enough in pricce even still for us, if we bought a 200,000 home with an FHA loan at 3 percent down we would still be pretty tight with no money to put away for retirement and no money to put away for my daughter's college fund in the future. Homes are still expensive here, 200,000 is about the cheapest in this area for 1300 sq ft and not much yard. I would like to stay in Oregon because my mother loves her granddaughter dearly and it would break her heart if I took her away. I am worried about our future. I don't want to move to another state but I know that in area like Cincinnatti would be much more affordable... my husband's job allows him to pretty much move anywhere. Now they are chopping heads at his job and he is starting to worry, as he has a mark on his record so he is worried they may do background checks... I told him I could go back to work gladly, I can make around 25,000 dollars a year, I have about 10 yrs experience in administration/clerical. I'm tired of our cramped condo that we have been living almost 2 years in, my daughter is unable to go outside and play and we are living in a cave. Any advice you may have for me will be helpful and much appreciated. I feel as if our life is in a slump and I'm swimming through mud trying to get out. PS – we also pay child support for a son we never get to see which chops 400 a month for us… however I think in 3 ½ years we may be getting that back.
Answer this is not legal advice its personel experience. MY best friend in cali went thru what you did except he got pissed and filled bk. THAT stopped the forclosure proceedings dead ..till the judge made a decision and he has a bk but still has his home and a reasonable mortgage.
I honestly think you may want to look at land contracts or lease option to buy or contract for deed..rather than conventional.. I also would talk to that lender about forgiving that 30k
you may want to threaten what my friend did.
YOU could clean up your credit in 1 year using a secured visa to pay monthly bills and pay it off each month. So no credit card interest.
I know what your going thru ..Since this exact same mess happened 20 years ago under dady bush and reagen..its why I supported obama..
You see I got caught in the last bubble and kept my home by taking in tenants/roomates.. I also was quite clear to my lender that if they tried to forclose by saying I was upside down ..I would give them a taste of a chap 7 cram down. they got the message real quick and simply continued to accept my monthly ontime payments till the market came back and I sold the sucker. and bought my 2nd home using a different lender.
I am sorry I cant be more helpful. But I will say if you move to cincinnati try the area around the east side 20 mi from the city ..it cheap and big lots. I lived there for 10 = years
