Financing Genius
I haven't explained yet, but my sister is an accountant. In fact, she's an assistant finance director for a government agency for a state in which I don't live -- thank heavens!
Well, as part of her life story, she's in the process of getting a divorce from husband #2 -- Brad (I'll tell you a story about him later).
To get his name off the house and vehicle, she decided to refinance the house and pay-off the original loans.
My brother called the other day to tell me she finally got the refinancing done. I could tell from the excitement in his voice this was going to be good.
Having never refinanced a house, and since I forgot how much my fees for my mortgage were, Jeff didn't get the reaction from me that he wanted when he told me how much she paid, so he was a little disappointed. I told him I would investigate and get back to him.
So I hung up and went out to talk to my collegues. After talking with several people I learned that the typical fees for refinancing a home should be some where between $500 - $1200. The range is so wide depending on whether you want title insurance, your credit score, etc.
Wanna guess what my sister paid for her refiancing? $18,469.
I didn't flip until my friends told me what the typical fees were. I immediately called my brother to verify that he had told me the correct number. He originally told me $19,000; I wanted to make sure he didn't mean $1,900.
NOPE! That's when he told me the $18,469 number.
After I tell you more of my sister's financial decisions, you'll see that this is not all that unusual.
I hope you are beginning to see why I believe "I must be adopted." There is no possible way I can be related to anybody in my family.
Up Next: The Purchasing of her Toyota Sequoia.
On Deck: How many days in a year, years in a decade, and decades in a century...
Well, as part of her life story, she's in the process of getting a divorce from husband #2 -- Brad (I'll tell you a story about him later).
To get his name off the house and vehicle, she decided to refinance the house and pay-off the original loans.
My brother called the other day to tell me she finally got the refinancing done. I could tell from the excitement in his voice this was going to be good.
Having never refinanced a house, and since I forgot how much my fees for my mortgage were, Jeff didn't get the reaction from me that he wanted when he told me how much she paid, so he was a little disappointed. I told him I would investigate and get back to him.
So I hung up and went out to talk to my collegues. After talking with several people I learned that the typical fees for refinancing a home should be some where between $500 - $1200. The range is so wide depending on whether you want title insurance, your credit score, etc.
Wanna guess what my sister paid for her refiancing? $18,469.
I didn't flip until my friends told me what the typical fees were. I immediately called my brother to verify that he had told me the correct number. He originally told me $19,000; I wanted to make sure he didn't mean $1,900.
NOPE! That's when he told me the $18,469 number.
After I tell you more of my sister's financial decisions, you'll see that this is not all that unusual.
I hope you are beginning to see why I believe "I must be adopted." There is no possible way I can be related to anybody in my family.
Up Next: The Purchasing of her Toyota Sequoia.
On Deck: How many days in a year, years in a decade, and decades in a century...
posted by Rich B | 9:10 PM
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