Well I made it through the house closing. As expected it was pretty terrible. I made it through nearly all of it before I started crying....but once I started, man did I cry. Ugh how embarrassing. But at least it's done. This morning I dispersed the small amount we had remaining to split in savings. Now the only thing we have left to do is actually file, which I hope to do within the next 2 weeks.
So my loan is a 30 yr ARM. The first 10 years is fixed at 3.625%. After that I can refi or it can adjust up to 1.50% depending on the current rates for ARM.
My new balance is $168,500 (previously $88,700 ). My new payment is $768.45, this does not include Escrow as I pay this on my own. So I will need to make sure I am saving/accounting for that seperatley.
I received a $200 credit to my checking account for setting up automatic payments on the mortgage, so I transferred that to savings right away.
I will not have to make a payment until October 2014, so that gives me 2 months mortgage free which is nice. I will probably just put that money in savings for now until I feel out my expenditures with just one income. I will definitely continue to pay extra on the mortgage every month as I still intend to pay off as soon as I can, but realistically it will not be anywhere close to the kind of payoff I was working on before. Also if things continue to go well with BF who knows where I will be living in the upcoming years as we do not currently live in the same city....not trying to put the carriage before the horse, but just something to think about for the future. If I moved to live with him I would still keep my house as a rental property, so either way the balance going down down down is the plan of action.
Thanks for everyone's support here. This was a big hard piece of the divorce process and I am very glad it is over with. Cheers to happy and healthy days!
Closing on House is Done
August 1st, 2014 at 02:20 pm
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August 2nd, 2014 at 12:22 am 1406935360
August 3rd, 2014 at 05:51 pm 1407084715
Now your house IS only your house.
August 4th, 2014 at 03:46 am 1407120417
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August 5th, 2014 at 03:04 pm 1407247491