Everybody Loves Your Money

Living for today - Planning for Tomorrow

May 2nd, 2007

Links to Love

http://news.yahoo.com/s/ap/20070502/ap_on_re_us/warehouse_ban

This one is amazing to me.  This guy lives about 6 or 7 miles from my house and was running a secret private bank out of his house with more than $28M in assets.  How could you trust a guy running a bank out of his house?  I sure couldn’t.

 

http://www.kirotv.com/money/13241247/detail.html

High IQ’s don’t always mean wealthy individuals.  I could have written this article.  I have seen plenty of intelligent people who are drowning in debt, or at the minimum not saving a cent.

 

http://news.hotproperty.co.uk/Thirty-something_Brits_blase_about_mortgage_debt_18124905.html

30 something Brits seem to have a very relaxed view of debt.  Apparently they have just as many issues in the UK as we do in the US.

 

http://www.deborahjeanepalfrey.com/download/August1996.pdf

You may want to check and see if your phone number is listed on this page if you ever felt lonely on a Saturday night in Washington DC.

May 2nd, 2007

Update On Fire Insurance Claim

It’s been awhile since I’ve mentioned how things are going with the fire claim on my parent’s house.  You’ll recall that late last year my parent’s had a massive fire at their house in the middle of December and then my father passed away from a heart attack on New Years Eve.  Since then, I’ve been handling all of the details for my mother to get her house rebuilt.  While it’s been a lot of work, it’s also been a huge relief to work with a company like “The Hartford”.  They have been amazing through the experience and our adjuster has really gone the extra mile to help my mother recover from this.

The good news is that work is steadily progressing at the house.  All of the burned up contents in the garage/shop has been removed and in fact the back shop has been completely torn down.  The house, which is connected to the garage, but is a separate structure was heavily smoke damaged in the fire.  It has been completely cleaned and the entire house has been primed inside.  All of the carpet has been removed and a bunch of the electrical system has been rewired.  All of this is being covered by the insurance company.  In fact, here’s a quick list of the work that the insurance company is covering:

New roof for both house and garage/shop

New sliding door in kitchen

New oven/microwave unit

New refrigerators

All new carpet inside

All new paint inside

All new paint outside

Demolition of existing fire damaged garage/shop

All new garage/shop structure

All new wiring

New furnace for garage/shop

New lighting

And everything else that was in the garage/shop

 

There are also things that we opted to be reimbursed for but won’t be replacing.  My father had a commercial automatic glass sliding door (see pic) between the garage and shop, multiple workbenches, a car lift etc.  We won’t be putting all of that back in since my father passed away.  Instead, we are using that money to do some improvements in the house.  Here is what we are doing to update the house:

All new windows

New tile flooring

All new doors and trim throughout the house

Extended the eaves on the house

All new bathrooms

The good news is that all of this is paid for by the money that we were paid by the insurance company for things that we aren’t replacing in the shop.  It’s great to see my mom getting excited about getting back to the house.  It’s been such an incredibly difficult time for her that she just wants to be home.  We are hoping to get her back in the house some time this month.  The garage/shop won’t be done but the house should be to the point that she can live there while the rest of the work is completed.

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