From: owner-persfin-digest@lists.xmission.com (persfin-digest) To: persfin-digest@lists.xmission.com Subject: persfin-digest V5 #89 Reply-To: persfin Sender: owner-persfin-digest@lists.xmission.com Errors-To: owner-persfin-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes persfin-digest Thursday, February 18 1999 Volume 05 : Number 089 In this issue of the Personal Finance Digest: Chase Manhattan Bank Can I deduct these points ? Education IRA Need info on Medicare and Medigap The messages posted to the Persfin-Digest are opinions and are not intended to substitute for qualified professional advice. Subscribers should seek the services of qualified professionals for such advice. The publisher, Internet provider, and Digest contributors cannot be held responsible for any loss incurred as a result of the application of any of the information provided here. 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Subscribe: e-mail majordomo@xmission.com, text: subscribe persfin-digest Unsubscribe: e-mail majordomo@xmission.net, text: unsubscribe persfin-digest ---------------------------------------------------------------------- Date: Mon, 15 Feb 1999 07:43:25 -0500 (EST) From: Martin S Turnauer Subject: Chase Manhattan Bank For 24 years and 10 months we have had our checking account on automatic deduction for our house payment. We have a 25 year mortgage. Over the years the house loan was sold to Chase Manhattan bank. With 2 payments left Chase Manhattan Bank stopped requesting of my bank the monthly payment. In January I received a default of loan payment on my house from Chase Manhattan. I called them and they told me, they do not use the automatic payment during the last 2 months. I called my bank and sent a cashiers check to Chase Manhattan to pay off the last 2 house payments. (They wouldn't accept a personal check after 24 years & 10 months) I am still receiving default of loan letters since they have no record of receiving the cashiers check. My bank has the cashiers check returned and endorsed by Chase Manhattan Bank. My bank has sent Chase Manhattan a copy of the returned, cashed cashiers check and they still will not credit my home loan as being paid off. Any ideas of what I should do with these idiots at Chase Manhattan? - - ------------------------------ Date: Mon, 15 Feb 1999 10:59:29 -0500 (EST) From: JEFFREY ALLEN DEVANZO Subject: Can I deduct these points ? Hello to All , We are in the process of selling our house and purchasing a new one. The question that i have is , If we pay the points for the person who buys our old house can we deduct the points that we have paid , or is this considered a "gift". The reason i ask is there are some programs out in the real estate world that will allow a seller to pay some, most, or all of the closing costs, in order to get your house to sell . Any help on this one will be greatly appreciated for obvious tax rerasons. Jeff DeVanzo - - ------------------------------ Date: Sun, 14 Feb 1999 22:37:56 -0600 From: "Harold R. Justice" Subject: Education IRA Some of you have been discussing education IRAs and some of its limitations. Have you considered funding a Roth IRA for educational purposes? The way this works is you can remove your contributions without paying any tax or penalties since that money has already been taxed. Suppose you and your spouse both funded a Roth each year from the time your child is born. At age 18 your child would have $72,000 to draw from for education. The earnings would remain in the IRA and can still be used in your retirement, with no taxes due. Harold R. Justice - - ------------------------------ Date: Thu, 18 Feb 1999 09:53:50 -0600 From: nowak@comm.mot.com (Mark Nowak) Subject: Need info on Medicare and Medigap Hi, My mother is turning 65 in a few months, and we both are pretty clueless about how Medicare and Medigap coverage works and how we apply for it. Does everyone get covered for Medicare Part A? What is covered in Medicare Part A? How does one set up automatic withdrawal from Social Security for Medicare Part B? Getting Medicare Part B is recommended, right? What is covered in Medicare Part B? Medigap insurance supplements Parts A and B, right? How does one pick the right supplement especially if one has a pre-existing condition? Can anyone direct me to good sources of information on this? Any help would be very much appreciated. Thanks! Mark Nowak - -- Mark Nowak Chicago, Illinois Motorola: nowak@comm.mot.com IIT: mnowak@ece.iit.edu http://www.ece.iit.edu/~mnowak/index.html Hotmail: marknowak@hotmail.com, http://www.geocities.com/Paris/1092/ - - ------------------------------ End of persfin-digest V5 #89 **************************** - To unsubscribe to persfin-digest, send an email to "majordomo@xmission.com" with "unsubscribe persfin-digest" in the body of the message. For information on digests or retrieving files and old messages send "help" to the same address. Do not use quotes in your message.