Refinanced and Happy About It

Spring            Waning Seed Moon

We have signed the refinancing agreement for our house.  4.75% interest.  Dropped our monthly nut a lot.  A lot.  Kate did it!

Having said all that the lack of process and scrutiny involved in this refinance made my jaw drop.  Kate went, talked to a loan officer,  some dithering went by as we  locked the rate.  It took us three weeks to ask where the appraisers were and as I said a while ago, they had already decided we didn’t need an appraisal.  We set up the closing for this morning and in spite of a last minute glitch–par for the course if you’ve closed on a lot of houses–we are back home now with a much cheaper loan.

It all reminded me of the way banks got in the trouble in they’re in right now.  Too little care in the lending process.  Don’t get me wrong, I’m tickled we got through with so little pain and I would not have written this until the bank had committed itself in writing, but gosh, gee wheez.  What about all those under-performing or non-performing loans?