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Mortgage Choice - How to find the best home loan

Kristy Sheppard from Mortgage choice discusses about the importance of finding a home loan most suitable to your financial situation as well as ...

I am about to inherit $1.75 million—should I buy a house in cash and pay off my wife's student loans?

Dear Moneyist,

I am 27 years old, recently married, employed full time for a New York State school district as a teacher, rent an apartment, and have about $25,000 in government student loans from my undergraduate and master’s degrees. In the next six months I will inherit $1.5 to $1.75 million dollars.

I plan to purchase a house (and a puppy) with my wife. The house may cost about $300,000 to meet our needs and ideas for growing our family into a family of five. My wife has about $100,000 in government/personal loans from her studies as a registered nurse, but because we both came from no money, and have been dating since college before we were legally old enough to have a beer, I have committed to paying off her loans and trust her financially.

Don’t miss: My fiancé postponed our wedding, secretly bought a house—and told me I could pay rent

My 403(b) is very small ($7,000). We saved and paid for 90% of our own wedding and I have not been in my career for very long, and I also recognize that it may have been a mistake to not contribute to my 403(b) since moving to a more financially beneficial school district this year.

Financial Institutions Partners III LP Response to Owens Realty Mortgage (ORM) Press Release on May 9, 2018 ...

Fellow Shareholders:

ORM’s public response references “a very reasonable settlement proposal” offered in April to Hovde Capital Advisors and Financial Institutions Partners III regarding its nomination of two new directors. This was an unreasonable settlement proposal in our opinion. It did not address the three central problems with ORM’s corporate governance and business model, which we outlined to Management and then subsequently to ORM’s shareholders on May 8, 2018. The reference to the settlement proposal in their response letter is another disingenuous attempt by Management to distract from the real issues facing ORM. To outline the key issues again:

First, there is no alignment of shareholder interest with the Board and Management. The Board and Management own only 3.26% of ORM and the independent directors own less than half a percent of the Company. Further, their proposal offering “direct involvement” in the selection of a “Gender Diversity Designee” (as stated in the settlement offer) would result in another independent director with no stock ownership being nominated to the Board, which does not resolve any of our fundamental issues.