Brad,

I had to read your message a few times to understand it all, not because of
the way you wrote it, just because I'm kind of stupid when it comes to this
kind of stuff.

I'm Praising God for you and I'm also praying that everything goes
according to His plan and that it is going to be as you want it to be.

Isn't Our Lord wonderful!

Love and Blessings,
Pat Ferguson


At 12:06 AM 7/14/04, you wrote:
>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