I'm not actively blogging here anymore. But if you got here because you were searching for something about bikes, you might want to check out my latest project, Vermont Goldsprints. In summer of 2014, I bought a used goldsprints racing setup and have made it a mission to get more bikes in more people's faces by putting on fun races in unexpected places. Come join me!
The House-Buying Experience- Financing and Details
With the offer accepted and the financing a go, it was time to put our whole lives down on paper and send that pile of paper off the the mortgage broker for processing. I couldn't believe the amount of paper we had to generate in order to prove we were who we said we were, that we really were married despite having our own last names, that we really did make the incomes we had already sent pay stubs in showing we made, etc, etc. Our most trying moments saw me getting our payroll person to put the town's return address stamp and a little note explaining that yes, it was a real pay stub on my pay stub, Kate digging our marriage certificate from Chatham out of the fireproof box (the first time I had even seen this particular piece of paper), and then me sending a mass email to the broker, Realtor, loan processor, seller's agent etc explaining that yes, we really did intend to close as schedule and no, there really was no good reason for the processor to take "an extra couple of days" to process the loan. I think that generated a couple of emails from the other parties involved to the processor. (Who also was saying he hadn't gotten certain pieces of information from us when he really had.) A quick re-forwarding of emails with attachments and time/date stamps cleared that right up. Whatever I did or they did, it worked and suddenly we were on schedule again. In the midst of all this, there was the stress of being forced to make an unexpected financial move. A credit card I paid off some time ago with a significant line of credit was cancelled out from under me. As the loan neared processing time, I got to worry about whether that change in my debt-to-credit ratio would make a difference. Thankfully it didn't, but I guess in addition to the standard advice of "don't cancel any credit cards before your loan goes through" I'd add: "do what you can to keep those lines of credit open. One small purchase per month per card, paid off right away, would be a decent bet.