EI is a lovely service

[Anonymous]

Howdy,

So i was discussing with EI last week on what they will be paying me while I look for work. Have not been finding a lot in the technical fields and am intending on moving to the Calgary area as the pickings are more plentiful. However, been looking at listing my house (Yah I know renting it out would be better). On a note on renting out in Evansburg, just not seeing any bites with respect to renting out here. Tons of places to rent thou. So was thinking of selling the house as EI will not pay me enough to afford the mortgage. But now the bank says they are going to charge me a closing fee, so now I am really stuck.

Any suggestions? As it looks, I am screwed when trying to rent it, screwed cause I can`t pay for it, screwed cause I can`t find a job that pays me well enough to afford it, and screwed because of the clauses with the bank if I sell it. Did I miss anything?

I do not know what to do. crawling under a rock looks very promising right now.

 

[Nir]

Is it 6 months EI you`re referring to or the equivalent to "Ontario Works" in Alberta which I believe can be received for longer term but much lower amount per month?
I`m asking because 6 months EI brings you no where whether you rent, buy or sell as in 6 months you`ll get nothing.
Therefore , bottom line if in 6 month, or whenever EI discontinues you do not have either a job or passive income covering your monthly expenses you are screwed anyway!? so who cares about a 6 month pay amount - it`s temporary anyway! Am I missing something? Did I not understand your question?

 

[Thomas Beyer]

QUOTE (cwevenson @ Aug 10 2009, 05:36 PM)
.. Did I miss anything?

..


Life is what you make of it !



You, and only you, are responsible for decision you made 1, 3 or 15 years ago ..



If you're on the wrong train: get off .. FAST .. and hitch a new one .. if you're not sure sitting on it for a while may be a good decision .. or maybe not .. there is no certainty in life !



Selling (potentially at a loss, or even a steep one) is an important part of life and growth !



Pray (if you are a praying/believing man), reflect, think, ponder, do "what if" analysis until the brain hurts, sleep, re-reflect, ask wise others what they would do .. then take all the clues and make a decision that seems right for you at this time .. and move on ! Looking back 5 years from now this may have been an excellent decision !



Related posts that may help you:



5 ways to make money http://myreinspace.com/public_forums/General_Discussion/61-3347-5_ways_to_make_money.html



Prayer especially for RE investors:

http://myreinspace.com/public_forums/General_Discussion/61-10209-A_Prayer_especially_for_Real_Estate_Investors.html



Good luck making the right decision .. and not fretting over it 2 years later !

 

[Anonymous]

QUOTE (thomasbeyer2000 @ Aug 10 2009, 06:52 PM)
Life is what you make of it !



You, and only you, is responsible for decision you made 1, 3 or 15 years ago ..



If you're on the wrong train: get off .. FAST .. and hitch a new one .. if you're not sure sitting on it for a while may be a good decision .. or maybe not .. there is no certainty in life !



Selling (potentially at a loss, or even a steep one) is an important part of life and growth !



Pray (if you are a praying/believing man), reflect, think, ponder, do "what if" analysis until the brain hurts, sleep, re-reflect, ask wise others what they would do .. then take all the clues and make a decision that seems right for you at this time .. and move on ! Looking back 5 years from now this may have been an excellent decision !



Related posts that may help you:



5 ways to make money http://myreinspace.com/public_forums/General_Discussion/61-3347-5_ways_to_make_money.html



Prayer especially for RE investors:

http://myreinspace.com/public_forums/General_Discussion/61-10209-A_Prayer_especially_for_Real_Estate_Investors.html



Good luck making the right decision .. and not fretting over it 2 years later !




Thank you,



I actually was presented with a solution about a month ago, and due to fear didn't act on it. I need to see if this solutions is still out on the table and if so I think I will be renting the house out to a family. It will be at a loss to me, but as you said it was my doing to get myself into this situation and thus it is my doing to make it cash flow. But by doing this at this time it buys me some time to get on the right path.

 

[Anonymous]

QUOTE (investmart @ Aug 10 2009, 06:36 PM) Is it 6 months EI you`re referring to or the equivalent to "Ontario Works" in Alberta which I believe can be received for longer term but much lower amount per month?
I`m asking because 6 months EI brings you no where whether you rent, buy or sell as in 6 months you`ll get nothing.
Therefore , bottom line if in 6 month, or whenever EI discontinues you do not have either a job or passive income covering your monthly expenses you are screwed anyway!? so who cares about a 6 month pay amount - it`s temporary anyway! Am I missing something? Did I not understand your question?

From the letter they sent me I believe it is 50 weeks at the highest pay out EI offers. However, at current costs in Alberta i could comfortably live in a cardboard box on what they pay. I really do not want to get into the EI ranting, somewhere someone voted in this low percentage pay out and thus it is what it is. If you entertain the thoughts that you create your own world then technically through your actions or lack of the EI payout for you is your fault. And as much as it is a hard pill to swallow I believe that what my situation is currently is my own fault through my actions or lack of. I also believe my selection in companies that resulted in my lay off was also my fault. I could have made a much better choice but did not.

Recognizing that I made those mistakes and that I will walk in a different direction I believe is a start. I think the post by Thomas sums things up greatly. But in the past i would have taken offense to his words, and yet now after fully understanding the implications of how we learn how we act or react in the world I take comfort in his words.

I need to get up off the couch and do my due diligence as Don puts it. "Which provides more benefit to your character and health, sitting on the couch watching the game or getting up and playing in the game?"

 

[Nir]

exactly cwevenson. you are a REIN member so you have the resources needed to learn. so please: 1. learn 2. plan and 3. take action!
Whether it sounds easy or difficult doesn`t matter. what matters is it will bring you where you want to be

Good luck.