What was your escrow shortage last year in total? And what’s your tax and insurance look like for this year?

Checking box 2C withholds more federal taxes?

How is the utilization on the other accounts? If it's better maybe just get your self removed from the high utilization account and stay on the others.

My monthly escrow payment is about $940 a month so about $11,280 of just escrow. Including actual payment it’s about $20,400 a year. So is it correct? I’m sorry I’m so ignorant on this topic.

I added my son to my CC so he can build his credit. I pay off the balance every month. He benefits from my credit line and my payment history. Your mom is a sinking ship and you just chained yourself to her. I would try to reverse it if possible. No credit is better than bad credit.

Get your priorities in order and license your effin' car before you worry about anything else.

What are you paying $373 to Mutual of Omaha for? Please don't let it be whole life insurance.

How much do you owe Ashley furniture? What's the interest rate? If it's high interest it may make sense to pay more money on it.

And last, it's only 144$ a year, but you tube? They give that stuff away, why pay for it?

You’re welcome. The earlier you start your retirement savings the better because of compound earnings. I wish I started at your age

I use smart asset.. like too much...

If you can get financed on another home while having your current loan and afford the down payment, I would buy the new house, move in and then sell the other place. This is how I have done it multiple times. However, each time I didn’t have a mortgage as I had already paid off the house. If you aren’t able to get new financing, then your 2 options would be what you mentioned, or having the contingency while your home sells. Good luck.

> My monthly payment went up $400 a month

So your previous payment was made up of escrow in addition to loan payment.

As in:

• Monthly payment = Loan payment + Escrow

So when your monthly payment went up by 400, you're paying the previous escrow amount and plus an additional 400.

So your calculation of:

• $400x12

is definitely not going to "add up to over $11,000" because you are missing the original escrow payments.

You should be doing:

• (Original Escrow payment + 400 ) * 12

That will be around the 11K.

They should have sent you an escrow statement breaking down how they came up with their numbers. If you don't have it, call them and ask for it. If their numbers are wildly off from what you think they should be then you need to talk to them and compare.

I bought a 2013 Mazda 3 for $8K in cash last year. Runs like a top and is actually fun to drive. You can find something small with good mileage and low cost until he’s in better financial shape. Honda Civic or Accord, Mazda 3 or 6, etc.

Excel, Google sheets, or pen and paper is all you’d need. Also take into account your benefits package as well.

As soon as you turn 18, get a copy of your credit report. I’m hoping mom hasn’t done more than add you as an authorized user.

A potential increase in interest rates in those 2 years would suck for her, but for you too if you don't plan on renting forever.

She did but she hasn’t had the best history with money so I guess we’ll see when I’m 18 if it was beneficial

FHA is a 2 year wait, USDA is 3 years, and conventional is 4 years from discharge of BK. Some lenders will allow you to go conventional, but probably not if you have to carry MI

If she did it with good intent and the history on them is good then your credit is probably excellent.

You can have AU listings removed from your credit report fairly easily so I really would not worry about this too much.

Dollar amount of utilization matters less than the utilization expressed in % of available credit.

And the bigger factors are going to be history of on time payments.

So, again, I wouldn't worry.

Just call the credit bureau and they will take it off for you. I did the same thing.

However; if she has 0 utilization by the time you turn 18 the length of credit will be beneficial. You can take it off anytime and it won’t effect your credit score. I took my parents off mine after almost 3 years and credit score went up the next week dramatically.

Maybe it’s different in your state as insurance regulations are made at the state level, but in my state it’s contract law. The state approves the policy for use and the insurer issues and binds the policies. The insurer and the insured both have to comply to the terms and the applicable policy language in the contract. The policy will outline the coverage and situations where coverage will not apply. As long as the insurer is operating within the parameters of the policy contract they can deny coverage if applicable. If the insured disagrees they can file a complaint with their state’s department of insurance, but as long as the insurer is operating within the language of the contract the denial’s likely stand.

This is how it works in my state (Oregon). There are no absolutes with coverage and it always comes down to the policy language in the contract which has been filed and approved with the state.

That's not true. The IRS specifies in the Fringe Benefit section (Pub 15-B) in multiple places that commuter benefits must be used only between your place of residence and your place of work. Use for non-commute purposes is not eligible for pre-tax treatment.

Highly unlikely the IRS will ever investigate an individual for the minimal difference it might make though.

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• Credit Building
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A commute is, by definition, travel between one's home and workplace. Your home and workplace are the same, so I doubt you incur any public transit expenses worthy of commuter benefits. A commute does not include workplace errands or travel to locations you'd prefer to work from (if anything, your employer might reimburse you for work-related travel expenses). You could probably make a case for using it to travel to co-working spaces provided by your employer.

But as many people have pointed out, enforcement is an extremely unlikely possibility. And worst case, they're just going to ask you to pay taxes on the benefit. So if you are willing to take that risk, just sign up for/use the benefit.

So make myself get paid less in my career to essentially pay for part of every person's product so I can reduce prices and be able to compete on price with other businesses? Doesn't really make sense. It took 10 years to go to college and get started in my career.

My career and my business are separate but I am taxed as if they are not which hurts my business. That's my point.