What do you think.

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On 8/31/2014 1:13 AM, micky wrote:

I know of someone who did that just before retiring. Don't know the details, but with low interest rates and decent investments it is costing about nothing. It is sort of a DIY reverse mortgage.
If we knew when we would check out, planning would be much easier. I'm using family history as a guide. Once work income stops, the first five years will be a little change and by them I'll be leass active and will probably need less to live on. Then five years and done.
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wrote:

The people who got fukt on this reverse mortgage deal were the ones who gave an 80 year old geezer a half million dollar annuity on a 1400 house in 2006 and when he died this year the house was worth $100k .
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On Sat, 30 Aug 2014 06:14:56 -0700 (PDT), trader_4

Maybe I'll have time to reply to more of your post later, but wrt lawsuits
When people believe they were misled or lied to , or just don't like the deal they've made, or they don't pay, and short of pulling out a gun and demanding that they pay, a lawsuit is the usual way for the other party to get his money.
So plenty of these people will be going to a non-listed real estate agent who won't have to pay a big referral fee and will give more attention to the sale of their house.
Sometimes they've paid already and sometimes they sue to get back money they have paid,
The winner may have to do more things after that to get his money, but lawsuits are very common. And I wouldn't be surprised if there is a class action about this in 10 years.
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On Sunday, August 31, 2014 1:31:06 AM UTC-4, micky wrote:

So show us some examples of these lawsuits involving Exceed. You're speculating wildly with no evidence, eg lied to, mislead. So far I don't see any evidence that Exceed has lied or mislead. Those are serious accusations. You apparently just don't like the value proposition. I think it has some potential problems too. There are a lot of things that I don't think are good deals, that doesn't mean they are lies or misleading, destined for a lawsuit, etc. If I knew I was likely selling my house in a few years, they had a couple major realtors in the area signed up, had done deals through them, I would seriously consider signing up.
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wrote:

How did you find this?
And it sure looks like what I posted about, but you seem sure that it is. How is that? Was the name Steven Daum mentioned in the scheme? If not, I don't understand how you found this.
I really need to know because I've been asking other people about this and I don't want to add this patent application to the mix unless I can tell them how it's related. At least in general terms.
Also I didn't think "methods of doing business" were patentable.
Wanamakers of Philadelphia was the first store in the USA to have fixed prices and no dickering, around 1870 or 80 iirc. If they had patented fixed prices, would other stores not have been allowed to do that? (He had other marketing innovations too, all of them appealing to customers)
How many of you have heard of Wanamakers? It's a big name in the northeast, but I don't know about Canada or the rest of the US, It's a department store,
But why would they put anything in print for the public, including competitors, to read if they didn't expect to actually get a patent. Don't all those patent applications with sketches and everything disclose trade secrets, and it's only worth it because they probbaaly will get the patent and the protection it brings?

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On 8/31/2014 1:32 AM, micky wrote:

My mother took us there when we were little kids. The had a really nice Christmas Wonderland and also the largest pipe organ in the world in a big hall in the center of the store.
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By searching the USPTO database. I think I just used "real estate" and "commission" or something as the search terms, and I knew it would be fairly recent so near the top of the list of results. I then scanned the results to find it.

by reading it.

no, and I did try an assignment search first, but nothing turned up under the company name.

see above

see above. Read the patent application - do you think it is NOT what you posted about?

think again.

yes, for a period of 17 years, if indeed he was issued a patent on that. But I bet there was prior art out there.

173 of us.

yes. Read their website, their contract, their press releases. They have to disclose most if not all of their invention in order to be in business. So they really don't have much of a chance in keeping this under wraps as a trade secret. So, they might as well try for patent protection - they have nothing to loose. Contrast that with a secret chemical formula that can be kept under wraps in your factory. In that case, you may not want to disclose it in exchange for possible patent protection.
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wrote:

Then a reverse mortgage may make sense. Particularly if you cannot downsize your abode (if you can, you should rethink not wanting to move).

but if you sell your house, you will need to pay rent which WILL go up with inflation. So, you need to do your math.

and for a regular mortgage, the lender will want you to have INCOME to pay the mortgage, not just put money away for it (which most people will blow one way or another)

you don't necessarily die with nothing. It depends on how long you live, how much you took out, what the accrued interest is, etc.

there is a solution for that.
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On 8/31/2014 2:42 AM, Pico Rico wrote:

Depends on where you live. Some people qualify for "senior housing" and pay low rent based on income. I know someone at work using that as retirement planning. Single, no assets other than a 40ik and IRA she will be content with that.
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wrote:
Thanks for the reply. Part of it snipped.

That's why I said "if". But my ex-girlfriend got a mortgage this summer, (even though she quit her job 6 or 12 months ago), for maybe half a million dollars.
She said it was harder to get, but she only gave one detail, that right near the closing, she had to get a letter from her bank saying that the money had been there for at least 60 days, I think it was. Now I've heard of people borrowing a big chunk of money and putting it in the bank so they can show people a piece of paper with a high balance on it, and maybe get credit based on that, but in this case, it was the money she was going to spend at the closing, so I don't know why it mattered if it had been there for 60 days or only a couple hours. I asked her and she didn't know either.
Other than her previous house, not yet sold, which is not worth more than 250G, I don't know what assets she has, but they are probably substantial.
Six or more months ago she got so mad at her almost new boss that she quit. She'd worked there for 30 years but her old boss died. I think she was sorry that she didn't wait until she was fired. So she had no job to offer the lender.
OTOH, when she had a job, she had to spend her evenings and weekends doing errands. She didn't have time to find a new house. It's much easier to spend money when you don't have a job.

Dang. If I have to do this, I want to die with almost nothing, just enough to pay the last year's taxes and for the funeral and headstone. and to hire someone for a couple weeks (or more) to get rid of all my tools, books, a couple things for the historical society, etc.

Suicide? Not unless I'm in more than mild pain much of the time and they can't stop it. Or if the health care professionals make me sleep on my back. (Although I'm training to do that now. I'm up to 2 hours. I learned my lesson last year. I spent one night in the hospital a year ago, and because of the tubes, I had to sleep on my back which then meant no sleep at all. I had to lie about how I felt to get out of the hospital without doing it AMA, against medical advice. Not sure why I cared about AMA. I went home around 8AM and slept all day Sunday. )

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On Sunday, August 31, 2014 6:07:18 AM UTC-4, micky wrote:

Mortgage folks want to make sure that the funds you claim you're putting into the deal are really yours and not more borrowed money from somewhere else, eg pulled at the last minute on a line of credit. Seeing that it's in your account for 60 days doesn't totally prove it, but it helps.
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Looks like a welfare leach to me. "low rent based on income" is just another way to say some other taxpayer gets to carry the load.
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On 8/31/2014 12:00 PM, Zaky Waky wrote:

not one to take anything from the government, at least up to retirement. Very self sufficient. Her parents always rented and so has she. No desire to own a house, even when she was married.
Government housing is not much to aspire to, IMO.
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On Sun, 31 Aug 2014 04:14:22 -0700 (PDT), trader_4

advance. What if in order to maximize income she'd waited until the last few days to sell a stock or redeem bonds.
My next door neighbor sold his house and bought a better one, and the guy he bought the better one was going to buy an even better one. All three closings were to be in a row, one hour I think scheduled for each, on a Fridaay morning.
Something went wrong with my neighbor's purchase, and whoever was in charge cancelled all three. For some reason, his wife had given the keys to the real estate agent, so they couldn't get back in their house. Their other next door neighbor had keys, but she was out of town for a few days. They went to a motel in Frederick Friday and Saturday nights. Then she went home to her parents in Pa. and he got the key from the other neighbor, and slept on the floor for 2 or 3 more nights until the new closing. The new neighbors had moving in scheduled but had to do it on a weekday instead, or a week later.
And the guy buying the best house had to be assured the deal was really going to go through.
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On Sunday, August 31, 2014 3:37:24 PM UTC-4, micky wrote:

The way it works, in my experience is you say I'm putting X into this deal. They ask where X is coming from. You tell them. Then somewhere along in the process they ask you to show that. So, if she said she was going to sell bonds for the deal, they would have asked for proof of that.

Relying on the sale of another property always has some risk. And scheduling the 3 closings within an hour is truly nuts.
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Maybe that's how we could get rich. Sell people a battery of tests which when analysed (by us) will tell them when they will die, so they can plan. It's at least as good a money-maker as the battery of tests they're selling now that allegedly will help you to live longer (the aorta bursting test, etc.)

Sorry to hear that.
I've outlived my father by 5 years so far, and my brother at 74 is more than twice the age his father lived to.
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That's great.

http://en.wikipedia.org/wiki/Wanamaker%27s
or maybe http://en.wikipedia.org/wiki/Wanamaker's (Actually I left out the apostrophe entirely and it still went right to it.)
has a picture of the Grand Court, emphasizing the organ. The store had been the abandoned Pennsylvania Railroad station.
He permitted cash returns and invented the price tag. His employees got access to some sort of business schooling, free medical care, "recreatonal facilities, profit-sharing, and pensions," way back in the 19th century. The webpage has more of the many firsts there..
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