refinancing fun
Jan. 10th, 2002 10:55 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
cellioWhen you refinance a mortgage, you have to go to a closing just as if you were buying the house in the first place. Odd that there's no way to expedite that. We even refinanced with our current mortgage company.
So we had our "closing" this morning (ironically, 10 years to the day since my closing on my first house). It took about an hour, which wasn't bad. Despite correcting these things in the paperwork they sent in advance (the original application, I guess), they still had our martial status and Dani's SSN and citizenship wrong. I wonder if the corrections will stick this time. I wonder what bad things happen if they don't.
There was a huge accumulation in the escrow account, so we didn't need to bring as much money as we anticipated. Property taxes are due in January; I really hope that this doesn't mean that each loan "assumed" the other is paying that bill, even though it's all the same company. That is, if the new loan assumes that's been paid and the old loan pays out the escrow before paying the bill, we could be screwed. I mentioned this to Dani, but I suspect he'll blow it off rather than check up on it.
It then took me 45 minutes to get from Parkway Center to work, which should have been 15 minutes tops, because of inadequate signage on Pittsburgh roads and irrevocable hidden on-ramps. Whee. It should have been trivial to cross the Fort Pitt Bridge heading downtown and get onto Forbes outbound, but it wasn't. Sigh. "Doing the driving" is one of the chores that Dani agreed to do when we split up all the responsibilities, but he flat-out refused to do this and told me we would drive there separately on the way to work.
So we had our "closing" this morning (ironically, 10 years to the day since my closing on my first house). It took about an hour, which wasn't bad. Despite correcting these things in the paperwork they sent in advance (the original application, I guess), they still had our martial status and Dani's SSN and citizenship wrong. I wonder if the corrections will stick this time. I wonder what bad things happen if they don't.
There was a huge accumulation in the escrow account, so we didn't need to bring as much money as we anticipated. Property taxes are due in January; I really hope that this doesn't mean that each loan "assumed" the other is paying that bill, even though it's all the same company. That is, if the new loan assumes that's been paid and the old loan pays out the escrow before paying the bill, we could be screwed. I mentioned this to Dani, but I suspect he'll blow it off rather than check up on it.
It then took me 45 minutes to get from Parkway Center to work, which should have been 15 minutes tops, because of inadequate signage on Pittsburgh roads and irrevocable hidden on-ramps. Whee. It should have been trivial to cross the Fort Pitt Bridge heading downtown and get onto Forbes outbound, but it wasn't. Sigh. "Doing the driving" is one of the chores that Dani agreed to do when we split up all the responsibilities, but he flat-out refused to do this and told me we would drive there separately on the way to work.
Re: Things get screwed up when you buy new, too
Date: 2002-01-11 01:02 am (UTC)It can also affect how things get divvied if you get a divorce. In one case one partner can easily buy the other out; in the other, you're pretty much forced to sell.