California Fires

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14 years ago when I worked for a few months in two week increments in Santa Clara, in the Bay Area,
I used to live in the West Bay area, Various cities in San Mateo County, from Belmont to SSF, mostly in the city of San Mateo.

I am glad to be out of that rat race.

-Don- Reno, NV
 
That one is easy. The banks demand the house be insured so long as it's not paid off and the Banks work with the Insurance companies (yes it's an illegal conspiracy) Once the bank is no longer involved.. Well it's going to cost too much if the insurance company actually needs to replace your house don't you know. (with the banks they settle for less).
I would think that the insurance company would have to pay the replacement value of your house and the bank and any liens from contractors or towns would be paid and if anything was left would be yours. How does the payout change just because it is paid off?
 
I would think that the insurance company would have to pay the replacement value of your house and the bank and any liens from contractors or towns would be paid and if anything was left would be yours. How does the payout change just because it is paid off?
They pay the insured value. The mortgage is not a factor in the payout except to whom it is paid.
 
I would think that the insurance company would have to pay the replacement value of your house and the bank and any liens from contractors or towns would be paid and if anything was left would be yours. How does the payout change just because it is paid off?
Verify that with your insurance. State farm defaults to estimated value not replacement. They will cover replacement value if you ask but it costs a lot more. They may not offer replacement value in all locations. Some insurance companies dont offer it at all from what i understand
 
Yes, but I sold my home almost 13 years ago. I pay everything electronically now, but then things were not so easy to do so. I still keep checks for times when someone does not accept a credit card or cash, as a handful of RV parks have done.
All my banking is done online. I do have a magazine subscription that requires being paid by check. I actually called them and they confirmed that they only take a check by mail or I could give them my CCd# over the phone. Check it was. It astounding that they were still using payment by US Mail service.
 
All my banking is done online. I do have a magazine subscription that requires being paid by check. I actually called them and they confirmed that they only take a check by mail or I could give them my CCd# over the phone. Check it was. It astounding that they were still using payment by US Mail service.
I have one subscription like that, but I pay by phone using a one time use limited credit card.
 
the only payment the transport company i used accepts is check. Smallercompanies may not be able to afford the transaction fees associated with electronic payments
Banks often charge commercial accounts a per check deposit or flat fee when the number of transactions exceeds a preset limit each month.
 
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Banks often charge commercial accounts a per check deposit or flat fee when the number of transaction exceeds a preset limit each month.
Agreed. Nothing is free. Credit and debit cards used to charge 6%. For credit the cardholder paid the fee (sometimes the issuing bank would cover it and not pass it along) for debit tbe merchant paid. Banks also get kickbacks depending which is used.

I occasionally run into businesses that dont want the fees or hassles so limit payment methods. Their business so they get to decide.
 
It is usually closer to 3-3 1/2%.
You may be right and things change over time. I am sure there are different ratws depending on things like volume of transactions. I was used to getting charged 6% on cc purchases. I have been seeing higher lately.

Companies are probably charging a premium to cover internal costs. Maybe the higher amounts are cause they are getting greedy. Completely conjecture on my part.
 
I hear you but it depends on ur interest rate. If ur interest rate is 2 to 3 percent and ur mutual fund is making 8 to 9 percent…it’s financially better to keep that money in ur mutual fund than pay off ur mortgage. I do think there is an emotional benefit of not having a mortgage payment. With the higher standard tax deduction we don’t benefit with a mortgage.

Yep. Spot on. And I like no mortgage.
To follow up though---Once you mortgage is paid for, to have to refinance to maintain INS is counterproductive to your personal finances. Could be giving all the % to your mutual fund or whatever.
If that's what you have to do to maintain INS, I guess you kinda have to do it, but that likely really hurts those with smaller retirement incomes.
If I had Don's money---I'd burn mine... :ROFLMAO:
 
To follow up though---Once you mortgage is paid for, to have to refinance to maintain INS is counterproductive to your personal finances. Could be giving all the % to your mutual fund or whatever.
If that's what you have to do to maintain INS, I guess you kinda have to do it, but that likely really hurts those with smaller retirement incomes.
If I had Don's money---I'd burn mine... :ROFLMAO:
I didn’t read that closely. Don can’t get home owners insurance once his mortgage is paid off? If true, that would not be good.
I also wish I had Don’s money!!! and all his toys!!!
 
I didn’t read that closely. Don can’t get home owners insurance once his mortgage is paid off? If true, that would not be good.
I was corrected on that. A websearch shows the insurance companies cannot legally do such, so they need to find another excuse to cancel you then:D. But if the house is paid for in cash from the start, good luck in trying to find insurance for it in a high fire risk area. That was what I was confused with.

I am not sure how CA FAIR insurance works for that, but it stands for "Fair Access <to> Insurance Requirements" and is designed for those who nobody else will insure. So perhaps it isn't a problem for anybody if they know about the FAIR plan. I was on it for my first year or two for my Auburn house and I don't know why because I am insured with Farmer's from the beginning.

I also wish I had Don’s money!!! and all his toys!!!

Well, I am not rich, just very comfy moneywise. I can afford all the toys I want, and then some, but I am far from being rich. I am sure there are countless others here who have more cash to blow than I do. Perhaps I am worth a microsecond or two of Elon's income:unsure::D.

-Don- Reno, NV
 
I occasionally run into businesses that dont want the fees or hassles so limit payment methods. Their business so they get to decide.
Yeah, one of my favorite restaurants in Auburn is that way. A Vietnamese place called "Pho King" and they brag about it being so "Pho-King Good". And it really is, the place is always packed. Not accepting anything other than cash has not hurt them a bit.

I see they recently changed their name from Pho King to "Pho King Good":

1736976634860.png
Making me hungry. Perhaps I will go there tonight! I like their Lemmon Grass Chicken on noodles and their Vietnamese Sandwiches.

-Don- Reno, NV
 
Well, I am not rich, just very comfy moneywise. I can afford all the toys I want, and then some, but I am far from being rich. I am sure there are countless others here who have more cash to blow than I do. Perhaps I am worth a microsecond or two of Elon's income:unsure::D.

-Don- Reno, NV
Rich is a subjective and comparative term.

My wife used to cringe and argue with me when i used to tell her we were not middle class. The best response i could come up with was spinning around with my arms extended in our almost 6,000 sq ft house asking is this middle class?

Wish i still had that kind of money lol
 
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