Need to get payments down.
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Need to get payments down.
| Sun, 06-29-2008 - 2:31am |
There wasn't anything on TV today so I got my trusted pen and paper out and started doing some figuring two hours later I still had no better plan of action. I am stuck.


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Kymaiden,
I am posting this reply here as well as on your other posting -- you need to know that you are eligible for social security benefits.
Megan
Hi again,
You said: "Stay at home mom's which I was for most of our marriage do not get SS on their own. I don't have the credits to get my own SS Check."
And that is true while your husband is alive, but when he dies then you are eligible for his social security benefit -- the same amount he was (or is now) getting. They reduce the amount slightly if you are not at "full retirement age" according to social security.
You can figure out full retirement age on this chart:
http://www.ssa.gov/retire2/agereduction.htm
This is a link to an electronic social security booklet on survivors benefits
http://www.ssa.gov/pubs/10084.html
Or take a look at the answer to this question:
My wife doesn't have enough work to qualify; can she qualify on my record?
Question
My wife doesn't have enough work to qualify for Social Security or Medicare. Can she qualify on my record?
Answer
The question you've raised applies to husbands as well as wives. Even if he or she has never worked under Social Security, your spouse at full retirement age can receive a benefit equal to one-half of your full retirement amount. (If your spouse will receive a pension for work not covered by Social Security such as government foreign employment, the amount of his or her Social Security benefits on your record may be reduced. Take a look at the fact sheet, Government Pension Offset for more information.)
Your spouse can begin collecting the benefits as early as age 62, but the amount will be permanently reduced by a percentage based on the number of months up to his or her full retirement age. Your spouse who is caring for your child who is also receiving benefits can receive the full one-half benefit amount no matter what his or her age is. Your spouse would receive these benefits until the child reaches age 16. At that time, the child's benefits continue, but your spouse's benefits stop unless he or she is old enough to receive retirement benefits (age 62 or older) or survivor benefits as a widow or widower (age 60).
If your spouse has also worked under Social Security--If your spouse is eligible for retirement benefits on his or her own record, we will always pay that amount first. But if the spouse benefit on your record is a higher amount, he or she will get a combination of benefits that equals that higher amount. It doesn't matter if your spouse starts getting benefits before, after, or at the same time you do--we will check both records to make sure that your spouse gets the higher amount whenever he or she becomes entitled to it.
NOTE: A spouse cannot begin receiving benefits until the number holder is receiving benefits.
I'm pretty sure you qualify at age 65 for medicare benefits also based on your husband's work:
What are the requirements to receive Medicare benefits?
Answer
There are many ways to qualify for Medicare. There are two parts of Medicare, each of which has its own requirements:
Hospital Insurance (also known as Part A)
If You Are 65 or Older
Most people 65 or older are eligible for Medicare hospital insurance (Part A) based on their own—or their spouse's— employment. You are eligible at 65 if you:
* receive Social Security or railroad retirement benefits;
* are not getting Social Security or railroad retirement benefits, but you have worked long enough to be eligible for them;
* would be entitled to Social Security benefits based on your spouse's (or divorced spouse's) work record, and that spouse is at least 62 (your spouse does not have to apply for benefits in order for you to be eligible based on your spouse's work) ;or
* worked long enough in a federal, state, or local government job to be insured for Medicare.
The only reason I've copied this information is to let you know that your are eligible for spousal benefits based on your husbands's work. While he is alive, the benefit is usually 1/2 of what he gets (he continues to get his full amount, while you would get an additional check for 1/2 of his benefit). When he dies, you would get survivors benefits, his full check.
They do not automatically enroll you for social security benefits -- you have to apply for them. If you are at the full age for benefits, apply now. You might want to apply now for the spousal benefits even if you personally haven't reached full retirement age -- they would just reduce the amount of your 1/2 check by a small percentage.
Sooooo If you haven't applied (an altho you joke about how old you are, I really have no idea how old you are) you may want to. And there should be some comfort in knowing that you will be eligible for your husband's check when he dies.
If you are 65 you should definitely check on medicare coverage, since you would be eligible based on his work.
I'd suggest you make an appointment to go in person to a local social security office and make sure you get correct information on all of this.
Getting an extra check could go a long way to helping with the bills.
Hope that helps,
Megan
that is what I want the laminate Just a matter of getting the payments down now to go in debt again for the flooring.
Did you know that these rates are "teaser rates" and that they WILL go up?
No these are as I always say "until death do us part" Or for the life of the loan I do not do teaser rate Not a smart thing to do.
But I understand why you would think most people have a lot higher rates.
My problem is I am kind of backed up against the corner and no where to go. Rates are as low as
I wish I could get those rates!
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