Almost there!

[dancerjodi]

Tomorrow is Friday people, Underworld is opening. This makes me happy. Does anyone want to meet up for it? Where? I'm trying to avoid Fenway, since I'd rather not have to scope out or pay for parking.

I paid bills and don't have much left over at all. This bums me out, I wanted to go get some of the new Halloween stuff at Illuminations like these and these

I'd love to get some of the haunted house stuff, one of the "gothic" cathedral-style candleholders for an end table in our living room, and that wrought iron card table for our den to replace the cheapo folding light oak one we have.

Still, bills are more important. One such bill was the fee for a re-appraisal of our house, here's hoping we can get rid of PMI. Then we'll work on re-writing the terms of our mortgage (will drop down 1.245% of interest). According to the originator at our bank this is not a full re-finance, we'd pay a fee, sign a contract for new terms and then start a new mortgage. Has anyone had experience with this before?

I still need to get some fabric for a new veil for dance class. Here's hoping this sale silk that Synaesthesia told me about means that they are really affordable, I'd love to spend around $3 or so a yard on it :).

Gah, and need to get the zipper replaced on my leather jacket finally. I think I'll drop it off at Walter Dyer tonight.

Somebody stop me! (note to self, pick up "The Mask" DVD at some point too)

Comments

[pir.livejournal.com]

We did a full refinance, dropped 2%. No fees, no points. Used First Horizon (I can give you the local guy's phone number if you'd like to call him) who were recommended by another friend who used them.

Bank stuff

[dancer.livejournal.com]

"We did a full refinance, dropped 2%. No fees, no points. Used First Horizon (I can give you the local guy's phone number if you'd like to call him) who were recommended by another friend who used them."

We're going with the bank that we have with the current mortgage. Unfortunately if we did this earlier in the summer we would have saved 2% . . . now the rates are higher (but still lower than when we bought) so we'll save a little over 1%.

I'm looking for info from people that re-wrote terms (the process is diff than with a full refinance) to see how it went for them. So if you know anyone like that, send em my way! :)

The bank told us that there would be no reason for us to do a full refinance if we weren't looking to get cash out of the house (which we're not). So there is no sense in going through the whole process and waiting a month if all we need to do is cough up a $1500 fee and sign a new contract to end up with the lower interest rate. Doing a re-appraisal on the current mortgage (for only $175) should help us drop PMI. After that, we'll do the new terms and drop the interest rate. I can't remember what our closing costs were before, but I think they were way more than $1700 :)

Re: Bank stuff

[pir.livejournal.com]

The way we looked at it was there was no reason to pay fees (or closing costs) when all we had to do was refinance and go sign papers one afternoon, it was a very simple process. $1500 is a lot of money to do somethings that sounds very similar to what cost us nothing, even if the process is slightly different.

Rachel found a good deal, with no extra fees, no closing costs, no points, no nothing. We paid a little at the start of the new mortgage but that was just money going into the escrow for insurance and taxes.

Re: Bank stuff

[dancer.livejournal.com]

"The way we looked at it was there was no reason to pay fees (or closing costs) when all we had to do was refinance and go sign papers one afternoon, it was a very simple process."

But you see, there are always "closing costs". Its just a matter of whether you pay it at the closing or if its rolled into the mortgage. The bank always takes it cut, the attourney always needs to be paid, the appraisal always needs to be paid for. We just would rather pay it now than over a period of years with interest :)

Its kind of like buying a new car - one may not have to pay anything when they pick up the keys, but that doesn't mean that they aren't paying for taxes, registration, etc. in reality.

Of course, I'm not a banker. But I have yet to find a lender that doesn't charge any fees at all and just makes their money off of interest alone (doing all the legwork for getting the mortage in place for free). Sucks, but this is the good ule US of A we're in after all :)

Re: Bank stuff

[pir.livejournal.com]

But you see, there are always "closing costs"

Not always. It can be done.