Well, I got the HELOC so far. The CU says everything looks perfect for closing, but always expect a glitch. I hated to do it but Hurricane Wilma and POE Insurance left us no choice. The Interest is at "Index Prime" plus nothing, not really sure if that is good or bad. As I said before POE is not renewing anyone in Florida, nor are several others. Everyone East of 95 must carry seperate Windstorm Policies. My Insurance for the Townhome is going to 3200.00 per year after August 16th. I already got my letter.
The BK has presented very few hindrances to credit for us, I guess it is time on the job (24 years). We are selling our land in Tennessee to pay the HELOC, but that will take awhile. We will have enough left over to buy two lots down in Lake Tansi, we know the area well. Our original lot is in a well developed neighborhood and the homes are fetching about 220,000 and up in that area. We have repairs that must be completed. Basically the effects of the BK are about over even though discharge was only two years ago. I really hated to take this loan out but the fence is still down and the exterior repairs have to be done and the outside electrical boxes have to be upgraded by a licensed electrician. In Sunrise you are really not free to do any work on your home yourself, fences have to be a certain code and permits run about $400.00 alone, the materials are another 2000.00 plus 1200.00 labor. My exterior repairs have to be up to code also. A window say, 3 x 3 here is about 700.00 and has to be installed with permits, which takes several weeks to get and then inspected, another few weeks and has to be hurricane glass. It is very strict here, but it'll be done right. Bribery is sort of out the window with building codes here because of liability, inspectors do get arrested since Andrew.
Probably not the right section for this post, but it is a credit issue, just not happy to take a loan. Have done nearly everything cash this last two years. Alot of people here are going to let the City and Asociation force repairs and just have a lien on the house, they cannot afford the work. There are alot of problems now. I know my Supervisor has all the materials for his roof, it $18,000.00 before Wilma and the price is now $36,000.00 to roof his SF home and climbing monthly (flat tile) but POE will not have the adjuster return his calls, we believe they have run out of funds to pay the workers. we were treated like dogs. Please no comments about letters, Senators and Attorneys General and such, it is a waste, when you call those numbers even they will tell you that. One fellow at work found out that his company shut down there Customer Service contact numbers, he has been unable to reach them and is pursuing it through the State of Florida.
The BK has presented very few hindrances to credit for us, I guess it is time on the job (24 years). We are selling our land in Tennessee to pay the HELOC, but that will take awhile. We will have enough left over to buy two lots down in Lake Tansi, we know the area well. Our original lot is in a well developed neighborhood and the homes are fetching about 220,000 and up in that area. We have repairs that must be completed. Basically the effects of the BK are about over even though discharge was only two years ago. I really hated to take this loan out but the fence is still down and the exterior repairs have to be done and the outside electrical boxes have to be upgraded by a licensed electrician. In Sunrise you are really not free to do any work on your home yourself, fences have to be a certain code and permits run about $400.00 alone, the materials are another 2000.00 plus 1200.00 labor. My exterior repairs have to be up to code also. A window say, 3 x 3 here is about 700.00 and has to be installed with permits, which takes several weeks to get and then inspected, another few weeks and has to be hurricane glass. It is very strict here, but it'll be done right. Bribery is sort of out the window with building codes here because of liability, inspectors do get arrested since Andrew.
Probably not the right section for this post, but it is a credit issue, just not happy to take a loan. Have done nearly everything cash this last two years. Alot of people here are going to let the City and Asociation force repairs and just have a lien on the house, they cannot afford the work. There are alot of problems now. I know my Supervisor has all the materials for his roof, it $18,000.00 before Wilma and the price is now $36,000.00 to roof his SF home and climbing monthly (flat tile) but POE will not have the adjuster return his calls, we believe they have run out of funds to pay the workers. we were treated like dogs. Please no comments about letters, Senators and Attorneys General and such, it is a waste, when you call those numbers even they will tell you that. One fellow at work found out that his company shut down there Customer Service contact numbers, he has been unable to reach them and is pursuing it through the State of Florida.
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