The Nightmare Is Over

Our refinance ordeal is finally over. What should have been a slam-dunk and should have taken only three weeks from start to finish, actually took eight months and ultimately required a letter to the CEO (something I have not done since I was in my twenties). I think I can safely say that the delay was not caused by us, but was caused by the bank (and, to be charitable, maybe even confusion on their part as to new rules brought about by the current economic crisis).

I won’t name the bank because I am very forgiving (and because in the end we got a really good deal…4.5% fixed, zero points and almost no other closing costs). Still, the eight-month delay cost us a total of about $10,000 and we could not refinance the higher interest loan used for the elusive one’s university education while the house refinance was pending. After five months, my favorite husband got so frustrated that he wanted to dump the whole thing and go somewhere else, which is probably what the bank wanted us to do, but I absolutely refused to give up that rate. So, persistence paid off and we closed on the deal last week. This should result in a savings of about $1300 per month…which also goes a long way toward making me so forgiving.

Now I have a plan to use that savings to pay off our other bills. I wrote up the plan a few months ago, but could not implement it until now. I think it’s going to be really nice to get rid of our debt. We hemorrhaged money this summer. There have been so many unexpected events since March, each costing between $500 and $1500…starting with the sad loss of Wolfie, going on to medical costs, two replaced clutches and a replaced motor mount, dental (OMG don’t get me started on that!), helping the elusive one get back to Scotland for his Masters’ Degree. My plan now is to cut costs and pay off the debt. It’s been a very stressful year, which explains, in part, my absence.

But I feel more like myself again. The stress is starting to let up quite a bit and I’m feeling really creative again, playing the piano, stitching, painting, reading…I hope the stars are properly aligned now for a new leaf on life. Now that the nightmare is over.