Posts by Maria James40

Kimberly Nguyen said:What exactly are they using as a baseline to calculate the cost of living here? I mean, what's the methodology? Are they looking at utility bills—like, what kind of actual statements would you even need to show to prove those costs? Or is it just guesswork regarding gas, car maintenance, groceries...

Well, you actually have to list them right there in the application. Most people here are used to having everything set up on autopay through their bank, so it’s pretty easy to see everything on an account statement. As for things like food or clothes, I guess they probably just use some standard internal rate for those... anyway, the items listed in the calculation table are basically:

Housing costs / Rent
AT&T/ Phone expenses
Utilities
TV & Streaming Services
Vehicle expenses
Insurance costs
Loan and lease payments
General living expenses

Richard Brown4 said:Could you please tell me a bit more about getting a loan in Austria? Like, where did you guys actually go and what kind of paperwork do I need to bring along? I'm facing a pretty similar situation to yours. Thanks so much! Best regards.

It looks like the banks in Austria have tweaked their mortgage terms for Americans just a little bit—at least from what I know regarding one big national bank. Here’s how things seem to be looking right now:

- Personal loans can go up to $55,000 max
- The ratio for the mortgage value and the loan amount is roughly 1:3

To get the ball rolling, you'll probably need:
- A valid ID or driver's license
- For business owners or small LLCs—tax returns/balance sheets from 2008 and 2009
- W-2 forms or similar tax docs
- Pay stubs from the last three months
- Bank statements from the last three months
- Property info, like a deed or land registry extract
- Proof of ownership
- Building permits
- Some photos of the property

If you happen to have other debts hanging over you at the moment:
- A copy of those existing loan agreements
- Your current outstanding balance
- A statement confirming if you plan to use this new loan to pay off the old ones

Co-signers are an option too, I think.

The costs involved:
- Variable interest rate, sitting around 7.5% right now
- Appraisal fees and processing costs, which usually run about 3-4%
- Life insurance is recommended, though I don't think it's strictly mandatory

Basically, once you subtract your cost of living—you know, utilities, car payments, groceries—and the monthly loan payment, you should ideally have at least 30% left over.

I guess that covers the basics. Since we're talking about Austria, there might be a tiny bit of wiggle room here and there, but honestly, not much because everything is so easy to track nowadays. One thing is for sure, though—there isn't really a "blacklist" system like some places have.

Lawrence Wright7 said:Right now, I'm living more frugally than I ever have in my life, so my utility bills are roughly
200-$100 (electricity, water, trash, etc.)
my phone and internet combined are $33
and I spend about 500 - $267 a month on food and essentials.
I've learned how to live *extremely* stingily, but let's be real—that isn't living, it's just survival.
I don't smoke,
I haven't even gone out for coffee... ugh...
I only buy stuff when it's on sale at Walmart...
I bike everywhere... no paying for public transit for me...
I watch every single dollar.

That really is just survival mode. If this were just for a year or two, you might manage somehow, but you're looking at a long-term mortgage here.
You've got to realize that if, say, a few years down the road, you lose your job, or interest rates spike, or the dollar loses its value, or... well, you could end up losing the house entirely, and then all this sacrifice would have been for nothing.
So, I guess you should really think about whether all this is actually worth it. Maybe sell the place while you can still get your money back? Because if a few bad things hit at once, you could lose the home and the bank will still be coming after your whole paycheck.
I wish I could write something positive for you, but honestly, I just don't see any right now.

Sounded like a total lifesaver

The agency in Osage—Apple—offered them what seemed like a miracle fix: they’d basically lend them enough cash to wipe out all those nagging little debts, and then, on their behalf, take out one massive loan at the bank to.....

Flower, just please be careful so these types don't reel you in—that whole deal with Goldman Sachs sounds pretty sketchy to me too, honestly.
My advice? Just pay back whatever you can, and if they start calling you from the local branches, just assume it's some random clerk over the phone. Maybe try actually going down to "your" bank in person to find a manager and see if you can work out a repayment plan.
I mean, it's usually more in the bank's interest to get you paying *something* rather than dealing with the headache of legal action or seizing assets—they're mostly just trying to scare you.
Like people have already told you, I guess a "gentle" phone call from the bank is a lot better than getting a visit from a debt collector.

Amazon. It was 14%.