That’s not accurate. You do in fact own your home, but the bank has a claim to it if you fail to pay your mortgage.

Put the bare minimum insurance that is required to keep the cost down. A higher deductible may help too.

There was a story I heard recently of a flipper doing this and saying they were a single mom, and negotiating a lower price.

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I used to chase the highest interest rates but at some point I realized that a slightly higher interest rate wasn’t worth the time and effort to switch, especially since the rates at all of these banks keep changing.

If you cannot come up with the difference right now to sell it, the only option is to wait until you have the funds to cover it. If you’re interest rate is over 6% then look into the SCRA and submit your orders to the loan company so they can cap the interest rate to 6%. Your recruiter could help out if the loan company needs some other documents proving your service if you don’t have your orders just yet.

Put the car in storage status with the insurance company and set up auto pay.

You won’t spend a dime in boot camp and more than likely you’ll be finished with about $1500+ after the two loan payments. It’s a rough number and I’m assuming that you’ll be an E-1.

I’m not sure where your MOS school is but some of them over a certain length allow vehicles. It’ll be up to your command and you would have to find out when you get there. There could be a waiting period to start school so there’s a chance to take leave to head back home and that might be the good time to sell the car. Unknowns aren’t fun but that’s sadly the military life. Some things are guaranteed but others will be figuring it out as you go.

Probably. You'd need to look into the terms of the particular program you are signing up for.

Yea that’s what I’m thinking. Because do income driven payment plans change each year? For example if we File joint next year then her payment would again change ?

Apartment management probably had a list of all occupants of the rental — this does not make you in any way responsible for the debt. Tell them you will report them for harassment if you hear from them even one more time.

What about a low paying side job? Seems like any side job would help here

That's what I fear honestly. One of them died well before I was born and the others all suffered from multiple health conditions in their later stages.

Federal law requires banks to allow family members to assume the mortgage if it's left to someone at death, but the same does not apply to unmarried partners. If she can afford the mortgage and credit is okay, there is a good chance they will let her. If they don't let her, she would need to either secure a new mortgage with another lender, or sell the house and she can take the equity and buy or rent somewhere else.

One idea is to have a secret courthouse wedding right now and then save the full wedding event with family and friends for later. Nobody has to know but you two and the justice of the peace.

Either your estate will have to pay off the mortgage or she will need to keep making the payments on it. But yes she can get the loan transferred to her. They may make her refinance it, but it can and would be done in that case.

Yes I know, and is the real genesis of my question.

Then tell them it isn't your debt and you will be filing a lawsuit against them for harassment.

Just to clarify, until you pay off the mortgage the bank has the title and owns the house.

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Adding someone to the mortgage involves who is responsible for paying for the debt, not who owns the house. Get a will.

Is that all it takes? My concern (and ignorance) would be how the bank would then handle the existing mortgage. The bank would honor my will and then it would be assigned to my fiancé?

Not without some sort of discount no.

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In most countries the way that interest rates are advertised on accounts is regulated, so if it says 5.89% then it will indeed be 5.89%. Nobody said the 5.89% was a savings account, they said 3-5% was possible, and that their cash earns them 5.89%, but did not define how.

Making assumptions clearly doesn't help you.

Also, we're clearly NOT talking about a US HYSA here, they already said they are NOT in the US.

Only active duty, basic training does not count as active duty until I am stationed, active duty could even get out of the loan all together.

As an archaeologist with a lot of real shovel time this one bugs me. There are diminishing returns for shovel size, at least for shovels operated by hand. If your shovel gets much larger than a regular shovel then it becomes too heavy and unwieldy. I can’t just show up to site dragging a 50 pound 8 foot wide shovel monstrosity and expect to dig any faster! Unless of course it’s attached mechanical excavator, but now the metaphor is really dying.

But for real, your best bet might be carmax. They usually offer the most. My friend used to be a car salesperson and she always told everyone to go sell their cars there and then come back to her instead of trading it in right then and there.

And good luck in basics!