Is that 11k spread over 10 years with no interest? If so, maybe just stick with the monthly payments.
Zen said:
Is that 11k spread over 10 years with no interest? If so, maybe just stick with the monthly payments.
Unfortunately, there’s a 6% interest rate, so it’ll come to around 16k over the 10 years.
Zen said:
Is that 11k spread over 10 years with no interest? If so, maybe just stick with the monthly payments.
Yeah, OP’s looking at around 8% interest.
With 50k saved, just pay off everything. The interest on these payments will end up costing you more.
Is that 50k at least in a high-yield savings account?
Lennon said:
Is that 50k at least in a high-yield savings account?
Yep, it’s at 5.25%.
Lennon said:
Is that 50k at least in a high-yield savings account?
Yep, it’s at 5.25%.
Just pay off both the HOA and car, then start saving again. You saved up 50k once, you can do it again. No point in paying interest if you don’t have to.
@Tarian
What bank is that with? Mine’s only at 5% 
If you’re able to pay off a 20k car loan in six months, just pay off everything now and then build back up.
Get a credit card with 0% interest and put the HOA bill on it. You’d have a year interest-free to pay it off. After that, switch to another 0% card if needed.
This sounds like Florida… am I right?
If you can, get a new credit card with 0% interest for the first year or so. Use it to pay the HOA, get any bonus they offer, and you’ll have a year or more to pay it without interest.
Tell them you don’t need a balcony. Just close it off and sign a waiver so they can’t sue you if anything happens. When you sell, the next owner can pay for a new one if they want.
Dallas said:
Tell them you don’t need a balcony. Just close it off and sign a waiver so they can’t sue you if anything happens. When you sell, the next owner can pay for a new one if they want.
They’d just put a lien on your condo.
@Penn
Then join the HOA board and get rid of the lien.
Dallas said:
Tell them you don’t need a balcony. Just close it off and sign a waiver so they can’t sue you if anything happens. When you sell, the next owner can pay for a new one if they want.
It doesn’t work that way.
Are you really the owner of your own home if you can’t control repairs? Seems fishy to me… I’d never agree to that.
Vesper said:
Are you really the owner of your own home if you can’t control repairs? Seems fishy to me… I’d never agree to that.
It’s a condo.
Vesper said:
Are you really the owner of your own home if you can’t control repairs? Seems fishy to me… I’d never agree to that.
It’s a condo.
No, apartments don’t have HOAs. If they told you otherwise, they’re misleading you.
@Finley
True, it’s a condo, but I still don’t see much difference between the two.