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Closing on House is Done

August 1st, 2014 at 02:20 pm

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 Frown ). 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! Smile

11 Responses to “Closing on House is Done”

  1. snafu Says:
    1406900903

    Saying goodbye to what once was is extremely difficult. Today you step forward and all told you've taken on challenges and changes with a positive, 'can-do' attitude. Hoping you'll get excited and smile at new doors opening, new ideas and new way of doing things. You never mention work, I sincerely hope you can enjoy work days and colleagues are nice.

  2. CB in the City Says:
    1406902033

    Glad you made it through, and that big step is checked off the list. Onward and upward!

  3. ceejay74 Says:
    1406902251

    Great job. So happy for you!

  4. creditcardfree Says:
    1406902906

    Glad you are moving on!

  5. Kiki Says:
    1406923313

    I am glad to know that things are finished for you that end. And I am sorry for all you are going through. Why did the mortgage rate double?

  6. Lena Says:
    1406935360

    Hugs my dear. Kiki, I am pretty sure it doubled because Bankergurl needed to buy out her husband's share of the equity in the home.

  7. Looking Forward Says:
    1407084715

    Good job!
    Now your house IS only your house. Big Grin

  8. SecretarySaving Says:
    1407120417

    Congrats on your closing!

  9. MonkeyMama Says:
    1407182110

    Here is to moving forward!

  10. Joanne Says:
    1407183981

    Am also sending hugs to you. You are doing such a good job with moving on, of course though it still must hurt. You are being so positive though. Wishing you well....

  11. Banker Gurl Says:
    1407247491

    Thanks everyone! Yes it is still very, very hard. I've accepted that it will be a long time before I am able to stop feeling sad regarding this, but am excited for the possibilities in my life. One baby step at a time!

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