We did a construction loan on ours and we are almost finished. Some things I learned. 1) Don't forget that MOST construction loans have a deadline date and penalties for going over that date. Ours went over, as do most and now we got a 2 point penalty and hoping the builder is going to pay the penalty like he claims. 2) There usually is an additional inspection fee which YOU will have to pay for any inspections beyond what is contracted. We got hit with one. The builder called for the 4th draw and the bank came out to inspect. The builder had most of the 4th draw items finished, but not all, although he had items done from the 5th draw which he thought would balance out. The bank was unhappy about that and required an additional inspection that I must pay for and hope the builder will compensate me for it. 3) Yes, as noted above, the banks inspections are worthless. I happened to be at the home one day talking with the builder when the bank inspector came. It was siding and insulation. There was no siding on the front of the house since it gets stone and stucco, but the back and sides had siding. The inspector never looked at the sides and back and said "I am assuming there is siding on the back and the front gets stone" the builder replied "yup" The inspector then stuck his head in the door, not his feet, just his head, saw there was insulation and said, "I am assuming there is insulation upstairs too" builder says "Yup" and the inspector says "OK...gotta run" and drove off. Less than 30 seconds on the property. We know our builder, but I don't know if I could even trust him if I were not close by to watch over them. One good thing the bank will do for us at conversion time is if all contracted items are not finished, but CO is acquired, they will withhold an amount which will certainly encourage the builder to come back quicker and finish.

Hello all, The one and only auto-pay I have set up is thru my old credit union account. I have auto-deposit there for my checks. The CC with the auto-pay is also issued with/through them. (So, I'm not concerned about THAT one, since they already are "connected" - so to speak.) Also, that CC is the one I use for general purposes with a very low balance. I've not had a problem with that, nor any concerns, BECAUSE it is always a low balance - or paid off. It started out (while I was working) - I could opt a specific amount deducted fm paycheck every WEEK (remember the good old days when you got paid weekly?!!! lol), and automatic pymts to pay for my "one and only new car I ever bot". I LOVED it! (The car was also funded thru my credit union). I'd like auto-pay for TWO other cc's, but I don't want the cc's to have direct access to my cr. union acct. I also have a regular bank account which I've had for a very long time, (checking only - I dumped my savings due to their ridiculous monthly fees), and I use this to pay bills. I HATE this bank, but I've had my acc't for about 30 years - so don't want to close the account. What I've been doing for several years is writing a ck fm Cr. Union to deposit into my "regular bank scct" - but only enough to cover bills that I am paying (plus a small "buffer"), so that they make minimal $ on MY $. My balance is always VERY LOW in this account. (I REALLY hate this bank!) I considered setting up CR Union to make auto-deposits to my regular bank. (BUT, then again, I hate to "connect" the two.) And then set up auto-pay on cc's thru THAT account. PLUS, IF I did that, it would be under what I pay out each month,-(utilities, etc.), So...I would STILL have to write another check and go to ATM to make additional deposit every month. Sounds messy, huh? lol! Well, it is! I don't want to close out my regular bank acc't. Too old - and good for FICO??? I WON'T close out my Credit Union - also, too old. (plus I get lot's of benefits.) I've always been against the "online" pay method - Due to various reasons which I will spare you deatils! haha (In general - don't want to RELY on computer do to "crashes". afraid of change, many phishings, and just don't really understand how it works, etc...PLUS, I do NOT want emails to remind/inform me of this or that - I prefer paper coming thru regular mail.) BUT...hubby and son DO pay some bills online. I talked to hubby last night about how it works. I've decided to try it. (Slowly at first - & with a watchful eye) Check out Cr union online options first. See what I can/cannot do online. Sign up for that bank I hate - see what's available - what I can/cannot do - and if there are any FEES. Do an EFT fm Cr union to that bank. See how that works out. If all OK, check into CC's, see what. Try to make pymts online. (I'll start with one specific one first - see how it goes.) As long as I still get my paper statements in the regular mail each month with it all itemized... Hubby DID warn me that when I do the EFT - could take 3-5 days for it to go thru...(but then, it takes that time for regular mail also - for paying bills, that is.) I'll just have to do any bank TRFs a few days ahead. So, I have a lot to check into in next several days. Wish me luck! LOL!

Having moved from one state to another more than 15 times I have repeatedly run into this situation. First of all, the address on the vehicle registration MUST BE the primary address of the ownner of said vehicle. If the owner of said vehicle moves from one state to another they normally have 30 days to change the vehicle registration, although there are exceptions to that rule. By example, in the State of Florida it is common for people to primarily live up north, but they have a second seasonal domicle where they winter in Florida. The law in Florida says that if the primary owner is employed or has children registered in school in Florida, then they have established Florida as their primary residence and are required to change the vehicle registration within 30 days, but if they are not employed or have no children in school in Florida, then they claim their Florida address as a temporary domicile for up to one year. Note that the registration remains with the owner and is to be listed at the owners primary residence or place of business. In this case the owner is not changing residence so the vehicle registration must remain the same as the owners primary residence. However it also must be mentioned that if you loan a vehicle to someone and they are stopped by the police for any reason, the person operating that vehicle can be held in custody as a suspected auto theif until the police can confirm that they have legal permision to be operating that vehicle. You should check with your insurance company. Under most insurance policies if you permit others to repeatedly use your vehicle you are required to have that person listed as an additional driver on the policy. You should also know that if your daughter should be stopped by law enforcement for any reason they will automatically run the license plate to see what the owners name & address is. When they then check the operators drivers license and it does not match the owners informtion the cop could hold the operator as a suspected car theif until they can get confirmation that the operator has legal permission to operate that vehicle. I would write a letter granting the daughter permission to use the vehicle and have that letter notorized.

With a simple interest loan you pay interest on a daily basis on the balance of the loan. More days, more interest. Fewer days, less interest. Amortized loans compute interest based on equally spaced monthly (usually) payments. 38, 29, 30, 31 days months have no affect since it is computed monthly. Since it averages out over the long run, it works. Even on an amortized load the portion of the payment to interest changes every single month. The monthly schedule makes it easier to compute long term in an amortization schedule. Just make the payments by the due date every month and the simple interest loan will amortize in the long term the same way. That is how they computed the payment amount, based on the same monthly amortization schedule. Similar things happen when you pay off a monthly amortized loan early. You will be charged day by day interest for the last payment (except some loans that can only be paid off on monthly boundaries).