UPS getting “BAD DEAL” in contract? Lol

[some1else]

The pension fund is already nearly insolvent. Do you really think the government is going to write a check every decade to bail it out? Simple math The pension will go away .

I think the pension will pay out for me in 10years but it will be similar to what guys are getting now which will be worth half as much in real dollars.

 

[some1else]

My finances or why I chose to work after retirement are none of your business.

It is when you’re giving financial advice to everyone. That’s like a fat person giving fitness and diet advice.

 

[UnionStrong]

It is when you’re giving financial advice to everyone. That’s like a fat person giving fitness and diet advice.

No one listens

 

[Over70irregs]

Explain that please?

If mortgage is a standard 30 year the $ paid will be worth way less in the future. This is especially true if you have a 2,3.4 %mortgage. New car payments are 7% and up. Used car payments are in the double digits. Credit cards are in the double digits tackle those first if you have them. You’re better off, investing your money, and something that can pay you more than the interest rate on your mortgage. There is nothing wrong with paying extra on the principal. You have to do the situation that is good for you. Mortgage companies hate those low rate mortgages because they don’t make as much money on the mortgages is being issued today. This is the reason why nobody is selling. What you’re seeing right now is an economic, monetary SOFT default and wind down. People with adjustable mortgages have had their payments almost double. In order for rates to go down, they have to flood the system with more money now people are up against their financial ceilings. The insurance companies see what is coming and are pulling stakes. As the prices of their homes go up, some people are going to have convenient accidents at their homes. Wait and see. We are in trouble.

 

[FromOffTheStreets]

Always wondered what to do there, max your investment in 401k, or make double-triple mortgage payments to pay off your mortgage. Still haven’t come up with a solid correct answer on that one.

We chose the payoff the mortgage (& everything else route)then headed to max out 401k & investments.
We could wind up with a little bit less in the end but You can't beat the peace of mind.
Also, if by some freak accident or something, I could no longer hold this job @ 100k. It's not as big of a deal because we have no debt.

 

[Over70irregs]

We chose the payoff the mortgage (& everything else route)then headed to max out 401k & investments.
We could wind up with a little bit less in the end but You can't beat the peace of mind.
Also, if by some freak accident or something, I could no longer hold this job @ 100k. It's not as big of a deal because we have no debt.

One good thing about house payoff is the equity position that is made. Just the fact you have it makes you more economically powerful. But down the road expect housing to adjust down to its utility value. This is why . Something is not right….

 

[DOK]

One good thing about house payoff is the equity position that is made. Just the fact you have it makes you more economically powerful. But down the road expect housing to adjust down to its utility value. This is why . Something is not right….
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Insane, can’t believe with the adjustable rates right now there is not a flood of foreclosures.

 

[IVE GOTTA PACKAGE 4U]

Always wondered what to do there, max your investment in 401k, or make double-triple mortgage payments to pay off your mortgage. Still haven’t come up with a solid correct answer on that one.

Maybe do a little bit of both?

 

[DriverNerd]

Insane, can’t believe with the adjustable rates right now there is not a flood of foreclosures.

Give it time. With the low fixed rates the last couple of years, adjustable rate mortgages have really only become popular the last couple of years. Most of those haven't been around long enough for their rates to increase yet. Couple that with low unemployment and people aren't finding it difficult to make their payments. But when those 5/1 mortgages start to increase, watch out.

 

[Up In Smoke]

Give it time. With the low fixed rates the last couple of years, adjustable rate mortgages have really only become popular the last couple of years. Most of those haven't been around long enough for their rates to increase yet. Couple that with low unemployment and people aren't finding it difficult to make their payments. But when those 5/1 mortgages start to increase, watch out.

8.4 million closed end mortgages were refinanced in 2020. That's up from 3.4 million in 2019 and the total number of mortgages went up from 8.3M to 13.6M from 2019 to 2020. There are roughly 80 million mortgages in the US, so 1 in 6 have secured a consumer friendly rate. The most popular ARM in 2022-23 is the 10 year adjustable, so we won't see those move for quite some time, unless rates move down of course.

 

[PAS'd out]

It has always been an option.

1987 contract is when the M-friend or T-Sa language came into being. Air driver language also came in that POS contract. I voted no on that one as well.

 

[DriverNerd]

The most popular ARM in 2022-23 is the 10 year adjustable,

That's interesting. Everything I've seen shows the 5/1 to be the most popular.

 

[Brownsocks]

Give it time. With the low fixed rates the last couple of years, adjustable rate mortgages have really only become popular the last couple of years. Most of those haven't been around long enough for their rates to increase yet. Couple that with low unemployment and people aren't finding it difficult to make their payments. But when those 5/1 mortgages start to increase, watch out.

I wonder how many of the "I will do adjustable rate for now, so I can hit the DTI % for my 500k home" will default. I'm at 3% and will keep it.
My Mondays are so boring.

 

[Up In Smoke]

That's interesting. Everything I've seen shows the 5/1 to be the most popular.

My wife and I own a mortgage escrow search company and the most common in the 4 states of Indiana, Michigan, Wisconsin and Illinois are 10 yr ARM. I may have overstated, I don't know what occurs across the USA.

 

[Brownsocks]

My wife and I own a mortgage escrow search company and the most common in the 4 states of Indiana, Michigan, Wisconsin and Illinois are 10 yr ARM. I may have overstated, I don't know what occurs across the USA.

I wonder if this is because they are fearful high interest rates are going to last longer than 5 yrs?
I would hate to be stuck in a yearly recalculated variable rate mortgage when the teaser ran out.

 

[Up In Smoke]

I wonder if this is because they are fearful high interest rates are going to last longer than 5 yrs?
I would hate to be stuck in a yearly recalculated variable rate mortgage when the teaser ran out.

Based on the trend of moving every 7-10 years, I believe most new home buyers plan on moving prior to mortgage adjustments.

 

[Over70irregs]

Insane, can’t believe with the adjustable rates right now there is not a flood of foreclosures.

I think people are paying and starting to skimp everywhere else. They know if they drop by the ball now they are out. There is a pause first I’m hearing. Not sure how true that is.

 

[Brownisbrown]

You say that but on my old route, a pipeline company stopped pensions for new hires.

Have you seen the young guys on here? They are wild with their fantasies about what kind of profits a corporation should have and what they deserve. If the company sweetens the deal, they will sell out new employees for their benefit.

I seriously cant imagine UPS keeping a pension for new employees within the next 5+ years especially if Amazon fails to unionize.

 

[Over70irregs]

No pension no new employees