Ok guys need your help!

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kgip2k said:
I bought my house with what was supposed to be a 401 loan for a down payment on a house. I found a little place in the country, because I got tired of my old neighbor
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How did the 401k loan work out?
I'm a little nervous about it I hate to mess up my retirement but I'm still young and have a long time before retirement and I need the money now!
"Its my money and I want it now" Haha
 
dartfreak75 said:
How did the 401k loan work out?
I'm a little nervous about it I hate to mess up my retirement but I'm still young and have a long time before retirement and I need the money now!
"Its my money and I want it now" Haha
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Just like a normal loan, took just over a week to get the check after putting in the paperwork.
 
kgip2k said:
The good thing about the loan, is you pay yourself back the interest.
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The bad part is (from what I read) you will loose accumulated interest on the amount you borrow.
So if I take have 80k and I borrowed 20k for the next 5 years I'm only gaining interest on the 60k i have left. Is that correct?
 
You pay yourself interest on what you borrow. So what you lose/gain depends on how your 401k is invested. If, for example, your 401k is invested in a mutual fund and that goes up, then what you leave in the 401k will appreciate with the mutual fund, but what you borrow will only accumulate the repaid principle plus loan interest. Of course, if the mutual fund goes down, then your loan to yourself pays better.

Here is some more info: 7 Things to Know About 401(k) Loans
 
You also got to take into consideration the property that you buy may go up in value a million times more than getting a little interest on the money. Our house has almost doubled in value in the last five years that's more than any interest we would have gotten...
 
j par said:
You also got to take into consideration the property that you buy may go up in value a million times more than getting a little interest on the money. Our house has almost doubled in value in the last five years that's more than any interest we would have gotten...
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And the fact that I can get away from drama...... priceless!
 
Here is how she sits right now breaks my heart!!! I'm gonna try and get my back tires put on my steelie wheels next week and get her off the wet ground.

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Sorry to hear about your situation.
I have always had a great relationship with my dad.
He either stops buy or calls everyday.

If you have been paying the taxes on the property, I assume the bill comes to you every year, just don't pay it next year, and wait until it goes up for a tax sale and buy it.
You would have to wait a year and a day to claim it, but then you would own it.
 
sireland67 said:
Sorry to hear about your situation.
I have always had a great relationship with my dad.
He either stops buy or calls everyday.

If you have been paying the taxes on the property, I assume the bill comes to you every year, just don't pay it next year, and wait until it goes up for a tax sale and buy it.
You would have to wait a year and a day to claim it, but then you would own it.
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I dont want it. He can have it. I'm washing my hands of the entire situation. I almost finished getting my stuff out today have just a little more to do tomorrow and I'm done. I got a good laugh that douche bag went up there and put a forsale sign up last night!! Haha I hope the 20k he gets out of it is worth it. Lmao!
 
I'm moving soon so it wont matter lol I'm getting the hell away from here.
 
I found a piece of land yesterday I just gotta go check on financing And find someone to move my trailer.
 
dartfreak75 said:
I dont want it. He can have it. I'm washing my hands of the entire situation. I almost finished getting my stuff out today have just a little more to do tomorrow and I'm done. I got a good laugh that douche bag went up there and put a forsale sign up last night!! Haha I hope the 20k he gets out of it is worth it. Lmao!
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Good for you man. Guys like us can't hang on to resentment. Pray for him.
 
In the process of moving all my junk i found my license plates that use to be on my dart.

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Looks like you could use a little help from the Mopar Crowd to come by for a few days with a few mopar goodies, get her up on her feet, and get her Smiling again !

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Sometimes you just got to give up a few of those parts on the shelf to help the next guy get rolling again. The greater good, Mopars Roll On . . .
 
I did the 401K loan to pay my house off. Had to figure an escrow account for the property taxes and homeowners insurance since a 401k loan is principle and interest only. A conventional home or property loan takes the taxes in concideration.

Once you figure out the tax amount and homeowners insurance on the property, divide that number by your number of yearly paychecks and make sure to put that amount in the bank every payday. Then when taxes and insurance are due you will have it.

You mentioned your grandfather gifted you and your brothers,each with a piece of property as well as your father. Why not just move onto the piece of property you were gifted? Or sell it to help pay for the property where you would rather be.

Once you stop paying the taxes, and maintaining your grandfathers property it will fall into disrepair and foreclosure due to non payment of taxes. I kinda agree saying **** it, its your problem now to your father. Still sucks for you after maintaining it for 12 years though.

Glad to hear you have been sober 3.5 years. Keep it up. Booze money is better spent on mopars anyways. I wish you all the best. I will keep you in my prayers. I wish i lived a lot closer. That dart is screaming for a good DA sanding and a fresh coat of grey epoxy primer.
 
I'd be all about selling it to somebody that would really irritate the hell out of your father! LOL any certain ethnic group he doesn't like? LOL
 
IF my dad was a douche, I sure wouldnt post it. I was lucky enough to have a great one for 47 years that provided guidance support and advice.
Sorry the relationship is that bad.
RIP Dad.
 
Who has rear wheels and tires that hold air ?

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Who has a 74 preloaded K Member assembled ready to go ?

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As long as you got to raise the car up, you might as well raise it way up.
Engine and Trans combo would be nice too.

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Front Fenders back on, and suck in that big bumper hanging out in the front.

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A little touch up with some Rat Rod Black and you are good to go.

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Done Deal, Looks Great !!!

All kidding aside, we all help each other with our projects. Everyone has different skill sets and talents, resources, and places to work on their cars.

This could be done, who has:
Temporary Shop space close to where the car is?
Time to give a hand ?
Needed tools and equipment to borrow ?
Knowledge of how to what ever ?
Clean and Prep parts get em ready to go back on ?

Etc., Etc., Who has . . .

At least he could get 4 wheels and tires back on, and the steering hooked up so it can be mobile to move around again, then he can pickup the project from there again.

Mopar to Ya !
 
"IF my dad was a douche, I sure wouldnt post it."

Sometimes you gotta let it out.... and sometimes, you gotta let things go. My brother and his wife are leftist political maniacs... always wanting to condemn somebody, and putting people on the spot for what they believe and try to make them out to be evil if they think differently. And bumming off my father for years, even when they had 2 good incomes. I got tired of it after 35-40 years... haven't had much to say to him for about 5 years now, and I don't think about him very often. I don't want it to be that way, but I ain't gonna sweat it too much; feels too good to not be on-edge.

Oh yeah, his wife alienated her daughter after years of nagging about her husband... who she and my brother condemn because he went to high school in a military academy....really? And they can't figure why their son moved to Seattle and is not interested in moving back.....
 
So who lives close to our fabo brother in virginia who can help him out. I may be able to supply a part or 2 if i knew what stuff he needed. And had unneeded stuff i could part with.
 
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I like that thinking moparmat2000, good for you !

Yes it would be good to know who lives close by to our FABO Brother in Virginia . . .
 
George Jets said:
Looks like you could use a little help from the Mopar Crowd to come by for a few days with a few mopar goodies, get her up on her feet, and get her Smiling again !

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Sometimes you just got to give up a few of those parts on the shelf to help the next guy get rolling again. The greater good, Mopars Roll On . . .
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Wow that's a beautiful 75 I love the color!
 
George Jets said:
Who has rear wheels and tires that hold air ?

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Who has a 74 preloaded K Member assembled ready to go ?

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As long as you got to raise the car up, you might as well raise it way up.
Engine and Trans combo would be nice too.

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Front Fenders back on, and suck in that big bumper hanging out in the front.

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A little touch up with some Rat Rod Black and you are good to go.

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Done Deal, Looks Great !!!

All kidding aside, we all help each other with our projects. Everyone has different skill sets and talents, resources, and places to work on their cars.

This could be done, who has:
Temporary Shop space close to where the car is?
Time to give a hand ?
Needed tools and equipment to borrow ?
Knowledge of how to what ever ?
Clean and Prep parts get em ready to go back on ?

Etc., Etc., Who has . . .

At least he could get 4 wheels and tires back on, and the steering hooked up so it can be mobile to move around again, then he can pickup the project from there again.

Mopar to Ya !
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That is sexy lol that is two beautiful cars. Thanks I appreciate the support. I have all the suspension parts it's just a matter of putting it back together now. I have all the parts painted and I have been waiting on getting the engine bay painted and the engine installed to put the front suspension back together. But with the storm this week I had to just move it.
Now i dont have any where to work on it. Lol I'm calling tomorrow about a storage locker.
 
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