Thursday, April 10, 2008

We're Free!

Last week, Chris and I went to the closing on our old house, got our check and got outta there! WOOHOO!!!! Who'd have thought that we would be able to sell our house so quickly, in today's market? We certainly didn't. Our buyers had already tried to bid on another house similar to ours and lost to someone else, so they were eager to grab ours. Luckily we were eager to get rid of it! LOL Inspections went well, conditions agreed to rather easily, and they requested to move up closing by a month. No problem! So now we are free of a very heavy weight - namely, a second mortgage payment to find money for. We had saved some money aside for that expense for 3 or 4 months, but since we closed so quickly we ended up not even paying one month of double payments. We are planning to use that money to pay down the mortgage on this house so the payment is approaching reasonable. I suppose that for a lot of people out there, what we pay now is already reasonable, but it is twice our old payment, so too much of a shock to the budget at this point. Reammortizing will bring the payment closer to that of our old house. So we are one-house owners once again - Whew!

3 comments:

Paula said...

What great news! It will make it so much easier to enjoy your new house without selling the old one to worry about.

Melanie said...

Congrats!

Kristin said...

Congtatulations, Gretchen! We carried 2 morgages for about 8 months and it was getting scary. We bought RIGHT when the market started to slide just over 2 years ago. It took us awhile to realize what was going on and reduce, but we got our current house much less, so it all worked out in the end.