Kathy's question of if we were tired of hearing life issues caused me to
follow through with a note I had planned on sending but been putting off
for whatever reason. We  thought to refinance our house with the onset of
rising interest rates, and the scheduled plan of raising them 8 times in
the next 18 months according to Greenspan a week or two ago helped confirm
it is time to lock in and quit playing gamble with  rates. . We had also
planned on rolling some hounding credit card debt into the mortgage. Not my
first choice to finance such debt, but considering rising interest rates,
the Adjustable Rate Mortgage we  had on the place and etc. we decided to
see about rolling the debt over into a refi.
Well things did not look good at all, in fact the first offer the mortgage
broker gave us was worse than what we currently have. Then my wife in
talking to him, found he had some income issues regarding my business a bit
miscommunicated, yet still we needed to appraise out at like near $190,000.
The broker called the other day and said he didn't know who we had in our
corner, but we appraised at $187,000 and would not only be enough to refi,
but now we'd need to bring no money to the closing table. The market value
of our home sounds like a lot, and for some areas it may well be, but you
can't touch a house  in this town, in this neighborhood for much less. We
bought it a year and a half ago at $160,000 and in that time with a fence
only added, it appraised at $187,000 so you can see the rise of the market
here. I'm thankful for the good market to enable us to find some breathing
room and even though we will close the refi on a fixed 30 loan with a 15
year balloon on rates, we are amortizing it on the side to make payments as
if it were a 15 year loan. God is really working with us to free us up from
being owed to no one as soon as possible. Kind of makes me wonder what he
has in store, or what is in store in general. Anyway, we were to sign
papers for the first phase of the refi tonight but the broker tossed his
back out and is scheduled to come out tomorrow late afternoon. We stressed
no surprises at the table, I'd be livid after the last mortgage broker we
dealt with jerked us around like he did. So I'm praying all goes well, and
we close this month. Thought to post in case any of you cared to know. To
be honest, I  really didn't think  a refi on this place would fly so soon,
and this is also including a prepay penalty on the existing two notes to
make up 100% financing. again not my choice, but I'm prompted to go with
it. God has dealt with me, and warned me of financial vulnerability in very
near future.


Brad

   If you're not living where you are, you're not living at all