Comments for Steadfast Finances http://steadfastfinances.com/blog A Personal Finance & Investing 101 blog that delves into current events, consumer education, and techniques to improve your bottom line. Thu, 10 May 2012 07:05:34 +0000 hourly 1 http://wordpress.org/?v=3.3.2 Comment on Shutting Down My Lending Club Investments by JOHN DAWSON http://steadfastfinances.com/blog/2011/04/22/shutting-down-my-lending-club-investments/comment-page-4/#comment-92882 JOHN DAWSON Thu, 10 May 2012 07:05:34 +0000 http://steadfastfinances.com/blog/?p=14233#comment-92882 Xin Tendo: Best Borrower occupations: Professionals- Legal (Attorney, Paralegal, Secretary, Courts), Medical (Physician, Dentist, Chiropractor, Psychologist, Psychiatrist, RN’s, Special Technicians- XRay, Ultrasound, Sonographer, EKG, Lab, Chemo, etc), specialized Government (FAA- ATC, DOJ- ATF, FBI), Public Utility (Lineman, Electric/Gas Generating and Water Plant Ops, etc.), Railroad, Special Teacher- Special Edu, Reading, Speech, etc.)and Senior Military Officer and NCO. Once secure US Post Office jobs quickly disappearing. DOD budget cuts will be same for DoD civilians. Law Enforcement- Corrections-Police-Sheriff jobs subject to budget elimination. Notes inventory now 650+. NAR averages 12.20 to 12.35 PCT. Fully paid = 16% of Notes. Charged Off = just below 5% of Notes. 04.15.2012 L C “Improvement” to DownLoad File conspicuously omits Occupation/Position description. John Dawson 05.10.2012 Xin Tendo:
Best Borrower occupations: Professionals- Legal (Attorney, Paralegal, Secretary, Courts), Medical (Physician, Dentist, Chiropractor, Psychologist, Psychiatrist, RN’s, Special Technicians- XRay, Ultrasound, Sonographer, EKG, Lab, Chemo, etc), specialized Government (FAA- ATC, DOJ- ATF, FBI), Public Utility (Lineman, Electric/Gas Generating and Water Plant Ops, etc.), Railroad, Special Teacher- Special Edu, Reading, Speech, etc.)and Senior Military Officer and NCO. Once secure US Post Office jobs quickly disappearing. DOD budget cuts will be same for DoD civilians. Law Enforcement- Corrections-Police-Sheriff jobs subject to budget elimination.
Notes inventory now 650+. NAR averages 12.20 to 12.35 PCT. Fully paid = 16% of Notes. Charged Off = just below 5% of Notes.
04.15.2012 L C “Improvement” to DownLoad File conspicuously omits Occupation/Position description.
John Dawson 05.10.2012

]]> Comment on Investing in a Timeshare – Is It Worth It? by YFS http://steadfastfinances.com/blog/2012/05/07/investing-in-a-timeshare-is-it-worth-it/comment-page-1/#comment-92857 YFS Wed, 09 May 2012 09:56:33 +0000 http://steadfastfinances.com/blog/?p=14838#comment-92857 I had no clue the only way to get out of the timeshare is to die. Ouch! I had no clue the only way to get out of the timeshare is to die. Ouch!

]]> Comment on The Simple Yet Fulfilling Life of Frugal Billionaires by YFS http://steadfastfinances.com/blog/2012/04/09/the-simple-yet-fulfilling-life-of-frugal-billionaires/comment-page-1/#comment-92856 YFS Wed, 09 May 2012 09:55:46 +0000 http://steadfastfinances.com/blog/?p=14765#comment-92856 No problem marry :-) No problem marry :-)

]]> Comment on Investing in a Timeshare – Is It Worth It? by Squeezer @Personal Finance Success http://steadfastfinances.com/blog/2012/05/07/investing-in-a-timeshare-is-it-worth-it/comment-page-1/#comment-92842 Squeezer @Personal Finance Success Wed, 09 May 2012 02:15:07 +0000 http://steadfastfinances.com/blog/?p=14838#comment-92842 You forgot another downside to timeshares. About the only way to get out of a contract with one is to die. You forgot another downside to timeshares. About the only way to get out of a contract with one is to die.

]]> Comment on The Simple Yet Fulfilling Life of Frugal Billionaires by Marry http://steadfastfinances.com/blog/2012/04/09/the-simple-yet-fulfilling-life-of-frugal-billionaires/comment-page-1/#comment-92832 Marry Tue, 08 May 2012 18:04:37 +0000 http://steadfastfinances.com/blog/?p=14765#comment-92832 I enjoyed the tips you are providing on your frugal living can make life easier by providing long term living for doing something one time.Thanks for the the information…… I enjoyed the tips you are providing on your frugal living can make life easier by providing long term living for doing something one time.Thanks for the the information……

]]> Comment on Shutting Down My Lending Club Investments by Xin Tendo http://steadfastfinances.com/blog/2011/04/22/shutting-down-my-lending-club-investments/comment-page-4/#comment-92598 Xin Tendo Sun, 29 Apr 2012 04:28:28 +0000 http://steadfastfinances.com/blog/?p=14233#comment-92598 NAR for my portfolio has dropped to 5.8%. Average maturity of my portfolio is about 1 year. Issued & Current 78 Fully Paid 10 Charged Off 6 Average loan size 27$ I used a low-scrutiny method. Just gathered the recommended filters from various finance blogs and made a few portfolios. 5/6 chargeoffs are 60 month loans. NAR for my portfolio has dropped to 5.8%. Average maturity of my portfolio is about 1 year.

Issued & Current 78
Fully Paid 10
Charged Off 6

Average loan size 27$

I used a low-scrutiny method. Just gathered the recommended filters from various finance blogs and made a few portfolios. 5/6 chargeoffs are 60 month loans.

]]> Comment on Credit Cards: The Culprit of the Modern World Debt by YFS http://steadfastfinances.com/blog/2012/04/23/credit-cards-the-culprit-of-the-modern-world-debt/comment-page-1/#comment-92505 YFS Thu, 26 Apr 2012 19:45:01 +0000 http://steadfastfinances.com/blog/?p=14834#comment-92505 Good job on becoming a responsible credit card user! It's fun to use the CC rather then get used by the CC isn't it. Good job on becoming a responsible credit card user! It’s fun to use the CC rather then get used by the CC isn’t it.

]]> Comment on Credit Cards: The Culprit of the Modern World Debt by This Aggie Saves http://steadfastfinances.com/blog/2012/04/23/credit-cards-the-culprit-of-the-modern-world-debt/comment-page-1/#comment-92462 This Aggie Saves Wed, 25 Apr 2012 15:55:15 +0000 http://steadfastfinances.com/blog/?p=14834#comment-92462 I wasn't always, but I am now a responsible credit card user. I use them to my advantage and don't let the cc companies get a dime out of me from interest or late fees. I wasn’t always, but I am now a responsible credit card user. I use them to my advantage and don’t let the cc companies get a dime out of me from interest or late fees.

]]> Comment on Why Credit Cards are Attractive by Karin @ HR Degree Directory http://steadfastfinances.com/blog/2012/04/03/why-credit-cards-are-attractive/comment-page-1/#comment-92357 Karin @ HR Degree Directory Mon, 23 Apr 2012 02:46:20 +0000 http://steadfastfinances.com/blog/?p=14810#comment-92357 I cannot recall how many credit card agents have approached me to sign up for membership, and every time,they get the same blank response, NO. Yes, I know the benefits of having a credit card such as you don't run the risk of getting cash-napped for carrying $$ around and you get rewards/freebies for using your CC but whatever that reward is, I don't like Credit Cards simply because the cons outweigh the pros ;) I cannot recall how many credit card agents have approached me to sign up for membership, and every time,they get the same blank response, NO.
Yes, I know the benefits of having a credit card such as you don’t run the risk of getting cash-napped for carrying $$ around and you get rewards/freebies for using your CC but whatever that reward is, I don’t like Credit Cards simply because the cons outweigh the pros ;)

]]> Comment on Shutting Down My Lending Club Investments by Mike http://steadfastfinances.com/blog/2011/04/22/shutting-down-my-lending-club-investments/comment-page-4/#comment-92284 Mike Sat, 21 Apr 2012 12:12:22 +0000 http://steadfastfinances.com/blog/?p=14233#comment-92284 I wonder if that is why I was able to sell one of my notes that had filed for bankruptcy a while back. I can't recall if it was Chapter 7 or 13, since this was before they disallowed selling a note in bankruptcy. Maybe the buyer thought he/she would be able to recoup. Now I just sell any note that is 'incipient' grace period. I wonder if that is why I was able to sell one of my notes that had filed for bankruptcy a while back. I can’t recall if it was Chapter 7 or 13, since this was before they disallowed selling a note in bankruptcy. Maybe the buyer thought he/she would be able to recoup. Now I just sell any note that is ‘incipient’ grace period.

]]> Comment on Shutting Down My Lending Club Investments by JOHN DAWSON http://steadfastfinances.com/blog/2011/04/22/shutting-down-my-lending-club-investments/comment-page-4/#comment-92283 JOHN DAWSON Sat, 21 Apr 2012 11:51:05 +0000 http://steadfastfinances.com/blog/?p=14233#comment-92283 Called L C Collection Department. Purpose: Determine why $30K loan's $15K balance Charged Off after 1 missed payment. Collection History said Borrower filed Chapter 13 Bankruptcy; NOT economically feasible to collect balance. Chapter 13 Bankruptcy is WAGE EARNER REORGANIZATION PLAN. Debtor's debts are restructured into lower monthly payment and Borrower ultimately pays off debts. Idiot I spoke with said Collection Department automatically charges off ALL Bankruptcy Filing loans. Summary: L C collects 4.50% origination fee, provide lip service to Lender then promptly screws all Lenders when Borrower files Chapter 13 Bankruptcy. Called L C Collection Department. Purpose: Determine why $30K loan’s $15K balance Charged Off after 1 missed payment. Collection History said Borrower filed Chapter 13 Bankruptcy; NOT economically feasible to collect balance. Chapter 13 Bankruptcy is WAGE EARNER REORGANIZATION PLAN. Debtor’s debts are restructured into lower monthly payment and Borrower ultimately pays off debts. Idiot I spoke with said Collection Department automatically charges off ALL Bankruptcy Filing loans. Summary: L C collects 4.50% origination fee, provide lip service to Lender then promptly screws all Lenders when Borrower files Chapter 13 Bankruptcy.

]]> Comment on The Simple Yet Fulfilling Life of Frugal Billionaires by YFS http://steadfastfinances.com/blog/2012/04/09/the-simple-yet-fulfilling-life-of-frugal-billionaires/comment-page-1/#comment-92245 YFS Fri, 20 Apr 2012 13:41:36 +0000 http://steadfastfinances.com/blog/?p=14765#comment-92245 Hahha.. Your accountant technically would only have to track the donations to 501 (c) 3 organizations. The other donations would be considered "gifts" and as long as you don't go over 12k per person you won't have to track it or file it in your return. But, I definitely like your train of thought Hahha.. Your accountant technically would only have to track the donations to 501 (c) 3 organizations. The other donations would be considered “gifts” and as long as you don’t go over 12k per person you won’t have to track it or file it in your return. But, I definitely like your train of thought

]]> Comment on The Simple Yet Fulfilling Life of Frugal Billionaires by R.Ernest http://steadfastfinances.com/blog/2012/04/09/the-simple-yet-fulfilling-life-of-frugal-billionaires/comment-page-1/#comment-92086 R.Ernest Mon, 16 Apr 2012 08:25:54 +0000 http://steadfastfinances.com/blog/?p=14765#comment-92086 "What would you spend money on if you were a billionaire?" I would give away money everyday. From the homeless man on the street to people I saw on the news going through a tough situation to major charities, I would give money away everyday. My accountant would have fits tracking all the donations! “What would you spend money on if you were a billionaire?”

I would give away money everyday. From the homeless man on the street to people I saw on the news going through a tough situation to major charities, I would give money away everyday. My accountant would have fits tracking all the donations!

]]> Comment on Why are Home Foreclosures Picking Up in 2012? by John http://steadfastfinances.com/blog/2012/04/12/why-are-home-foreclosures-picking-up-in-2012/comment-page-1/#comment-91983 John Thu, 12 Apr 2012 15:31:19 +0000 http://steadfastfinances.com/blog/?p=14865#comment-91983 I don't really think government intervention in the housing market is a good plan. Like you said, people will be more willing to default on their loans and neglect the obligations they signed up for. Not the best plan. Perhaps it's time America decided to live on less than they make, live responsibly, and work towards a solid financial future? Thanks for the post! I don’t really think government intervention in the housing market is a good plan. Like you said, people will be more willing to default on their loans and neglect the obligations they signed up for. Not the best plan.

Perhaps it’s time America decided to live on less than they make, live responsibly, and work towards a solid financial future?

Thanks for the post!

]]> Comment on 7 Most Common Types of Homes by YFS http://steadfastfinances.com/blog/2012/03/26/7-most-common-types-of-homes/comment-page-1/#comment-91877 YFS Sun, 08 Apr 2012 20:52:11 +0000 http://steadfastfinances.com/blog/?p=14759#comment-91877 You can buy a mansion (I did) if the number make sense. You can buy a mansion (I did) if the number make sense.

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