2025 Project Post Ho Thread

Now waiting for the results and probably some new crap they find lol
 
Tell them you don't want any new crap the old crap is enough!
 
At least the market seems to be doing okay - helps with the old co- pays! Gotta stay over it's a new year. Bunch o crap. Seniors should not have to pay any of that garbage
 
I learned something awhile back

It's finance related and good to know!

When one's income is social security and one is applying for a loan - mortgage in the case of the friend I was helping

The lenders typically acknowledge that social security income has no taxes withheld from it like wages do

With wages you declare the gross earnings on your income when in actuality you only receive the net income but declaring the gross makes you look better in the income bracket area

So, the idea is that the lender will allow the social security income to have 25% added to it to make it the same as the wage earner declaring a gross wage yet only realizing a net wage

It worked for my friend and that were able to qualify for a little more that way

Probably explained better here ...

www.unbiased.com

A Guide to Grossing Up Social Security Income | Unbiased

Discover how to maximize your Social Security benefits with our comprehensive guide to grossing up income.
www.unbiased.com www.unbiased.com
 
So all you retirees - GROSS UP! Or at least be aware you may be able to!
 
Wifey said:
At least the market seems to be doing okay - helps with the old co- pays! Gotta stay over it's a new year. Bunch o crap. Seniors should not have to pay any of that garbage
Click to expand...
Compays except for today are paid .. getting the cash back in my account was covered plus yeaterday selling my last share of CRWD LOL
 
Wifey said:
I learned something awhile back

It's finance related and good to know!

When one's income is social security and one is applying for a loan - mortgage in the case of the friend I was helping

The lenders typically acknowledge that social security income has no taxes withheld from it like wages do

With wages you declare the gross earnings on your income when in actuality you only receive the net income but declaring the gross makes you look better in the income bracket area

So, the idea is that the lender will allow the social security income to have 25% added to it to make it the same as the wage earner declaring a gross wage yet only realizing a net wage

It worked for my friend and that were able to qualify for a little more that way

Probably explained better here ...

www.unbiased.com

A Guide to Grossing Up Social Security Income | Unbiased

Discover how to maximize your Social Security benefits with our comprehensive guide to grossing up income.
www.unbiased.com www.unbiased.com
Click to expand...
Interesting ... mostly what ve understood is lenders tend to not give loans to SS recipients unless they have other sources of income ..
 
Also tell the car salesman to buy down the damn interest rate %
 
Years ago a memeber posted up about that
 
VIPR PWR said:
Interesting ... mostly what ve understood is lenders tend to not give loans to SS recipients unless they have other sources of income ..
Click to expand...
All scenarios out there for sure but they can't not make a loan based on source of income only - or age - or race - or disability - or or or hahah - fair housing laws, so if someone is just shy of qualifying they can try being gross! Some recipients make the max which is up 5,108 this year

Which would put them at 76,600 annual with the gross up lol
 
If my posts are larger then i don't have to wait as long on the limiter especially if i proofread hahahaha
 
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