The Five Biggest Contradictions in Fitness
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The Five Biggest Contradictions in Fitness

It’s no secret that when people contradict themselves, it has the effect of making the flaws in their actions or statements seem glaringly obvious. But what about when WE ourselves get caught contradicting ourselves by someone else?

By: Nick Tumminello Added: January 6th, 2014
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  1. #1
    Journalist galileo's Avatar
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    Tips for buying your first house

    I've asked a lot of homeowners that I work with for advice, but it appears that everyone here has been getting much better deals. I've done a lot of research and footwork so far, but I'd like to hear from some of the home buying veterans on here as to how they got their best interest rates, what to avoid, how to get PMI waived at 5% (yeah, I'm talking to you geoffgarcia), and just general advice. Thanks in advance.

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  3. #2
    As I Am Paul Stagg's Avatar
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    Mrs stagg might be able to help you out. what state are you in?
    Squats work better than supplements.
    "You know, if I thought like that, I'd never put more than one plate on the bar for anything, I'd never use bands or chains, I'd never squat to parallel or below, and I'd never let out the slightest grunt when I lift. At some point in your lifting career (assuming you're planning on getting reasonably strong and big), you're going to have to accept that most people think you are some kind of freak." -Sensei
    "You're wrong, and I have a completely irrelevant pubmed abstract that may or may not say so." - Belial
    I has a blog.
    I has a facebook.

  4. #3
    Journalist galileo's Avatar
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    Pennsylvania!

  5. #4
    II MrWebb78's Avatar
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    does she make Stagg Chili?









    sorry, i didnt mean to ruin this thread this early.
    A patriot must always be ready to defend his country against his government. - Edward Abbey

    There is a wide difference between speaking to deceive, and being silent to be impenetrable. - Voltaire

    If it can be imagined, it can be done. - Me

    6'2"
    273 lbs.

  6. #5
    Senior Member geoffgarcia's Avatar
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    what are your goals? (appreciation, something inexpensive, rental, etc...)
    how long do you want to live in the house?

    to avoid paying PMI down to 5% all you have to do is take out 2 loans, aka piggyback loans or 1st and 2nd loans.

    You'll have your standard primary 80% loan at like 30 year or something, and your secondary loan will be the remaineder, generally like 15% for 15 years at a slightly higher interest rate.

    As far as securing a great interest rate there are a few things I have learned....just about every mortgage company is gonna give you a similar estimate....so!

    week 1 lock into a rate...each week thereafter check mortgage rates and lock in at another company if you can get a significantly lower rate.
    Most lockin periods are 60 days.

    dont' make a bid till you've seen at least 6

    Also this has been a record year for foreclosures and bankruptcys and things are going to get a lot worse before they get any better

    attached is an example of a spreadsheet that I use when I'm looking at houses and mortgages

    THE FILE IS AN XLS spreadsheet, however WBB doesn't allow XLS files to be saved here so I renamed it to .txt, so just change the extension before you open it
    Last edited by geoffgarcia; 07-11-2009 at 03:47 PM.

  7. #6
    As I Am Paul Stagg's Avatar
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    We're in MD. She may have a contact for you, and at a minimum may be able to give you a little advice.

    Where in PA?
    Squats work better than supplements.
    "You know, if I thought like that, I'd never put more than one plate on the bar for anything, I'd never use bands or chains, I'd never squat to parallel or below, and I'd never let out the slightest grunt when I lift. At some point in your lifting career (assuming you're planning on getting reasonably strong and big), you're going to have to accept that most people think you are some kind of freak." -Sensei
    "You're wrong, and I have a completely irrelevant pubmed abstract that may or may not say so." - Belial
    I has a blog.
    I has a facebook.

  8. #7
    is numero uno Saint Patrick's Avatar
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    Look into a convention loan w/ an 80/20 program. That's where you take a seperate loan to put a 20% down payment on the main loan.

    Worked for me. My house payment is $800 total for both loans.
    Age:30
    Height: 5'7"
    Weight: Not Big Enough
    ______________________

    “Take things as they are. Punch when you have to punch. Kick when you have to kick.” — Bruce Lee

  9. #8
    Journalist galileo's Avatar
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    First, thank you.

    Second, your questions.

    My goal is to get out of the apartment life, expand the space available to me (2 bedroom apartment has become far too small), begin to build equity, and find a place with which I am satisfied.

    The length of time isn't set in stone, but I'm assuming at least 5 years and hopefully 7 or more.

    Would piggybacking loans would require going through multiple banks?

    My best rate so far is 5.75% with $1600-2000 for closing costs and no points. I am looking to close out sometime in April, so I will have to wait a bit longer for the lock.

    I've done a lot of internet browsing for homes and gathered a ton of directions, so on the weekends until March I'll be trying to hit a few homes each week.

    Thanks for the spreadsheet. I'll check it out after installing excel again.

  10. #9
    Journalist galileo's Avatar
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    Paul: I'm south of Pittsburgh
    Patty: I'll check that out, it sounds promising.

  11. #10
    Senior Member geoffgarcia's Avatar
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    dont bother browsing the web for houses, just get a realtor and have them email you houses that match your exact criteria, you'll get a bazoodle more information including room sized, property/house assessment, last years taxes, fuel, condition, pictures, etc...not to mention once your tapped into the MLS you'll get the data faster than most of the secondary sites do.

    You can do the piggy back with the same bank/lending place

    also I BELIEVE, but am not positive, that you can roll your closing costs up into the mortgage.

    Also, I've only bought 2 houses so far, but each took 2+ months to close

    IMHO spend as little as possible becaues JUST IN CASE we are in a real estate bubble (which I tend to think we are), you dont' wanna be caught with your pants down.

  12. #11
    Journalist galileo's Avatar
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    Thanks again.

    Anyone else?

  13. #12
    Professional Lurker Herc's Avatar
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    Definately get a realtor. Remember the realtor works for YOU. A bargan isn't a bargan if it is more than you want to pay.

    Have an apprasal clause in the closing contract that if the house apprases for less than what you paid the contract is void.

    good luck!

    Three people can keep a secret so long as two of them are dead

    - Benjamin Franklin

  14. #13
    "COUNT CRACKULA" Bam Bam's Avatar
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    look into any first time buyer programs sometimes if you qualify you can get enough free cash to pay your closing costs
    Blocka Blocka

    I am AMINAL

  15. #14
    Bulking Man
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    Are you a veteran - if so you can get a VA loan.

  16. #15
    Banned Berserker's Avatar
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    I did go through realators, but found my house on the web. Its a good tool. As far as locking in rates with differant companies I am pretty sure when it comes to locking down it will cost you money. Around $50 to process, and is only good for 6 months. So went in, went trhough the numbers and got informally approved. I didn't get approved until I had picked a house. Though being a approved is a bargaining chip when making an offer.

    A FHA loan requires 3%, and is for first time buyers. 401k loan I think can be used for first time too.

    I wasn'tt been able to get closing costs in. EThe only way I know of is for the seller to give you cash back. NO money changes hand, just on paper. If the house is worth 100k and owner agrees on 98 might be able to get it written up in contingency that seller pays closing.

  17. #16
    zen idiot Scott S's Avatar
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    Yuppie.

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