Awesome.
Now, did they tell you your mortgage is cheaper ? Did they figure your whole taxes, PMI and insurance into that ?
because my "mortgage" is $1200 a month. I "pay" $2000 a month. That's CT taxes (Which you don't enjoy) and PMI (Which you may) and insurance (Which the bank requires of you)
Now, the lesson I learned - Go to the townhall and immediately calculate your NEW taxes. the mortgage company doesn't do this, and they estimate based on the previous owner's cycles. This meant that this year I got a tax bill asking for $2000 more, which my mortgage company gladly gave them in arrears, charged me for in abundance and then built in the error into this year's taxes. The end result: my taxes are completely doubled for the next 2 years (Again with the arears thing) and has a 42% increase overall since I bought it.
Insurance is another matter completely. The Mortgage company gives "you" insurance to protect THEM. Not you. If you have a fire, the mortgage company gets enough money to cover their losses and you petition to get that money from them, sans fees and whatever they ate for lunch at the meeting to discuss your problem. If you upgrade the insurance to protect you, then you're going to pay more of a premium.
I found this out when I had the house alarm installed, and my insurance company said "BFD". It's because the insurance doesn't give a shit about the house, they are hired to protect and underwrite the LOAN. If you're following my reasoning here (it's slightly flawed) you're paying monthly for nothing. (The bank also has Reinsurance that they pay for to protect their investments. On top of that, your indemnity and PM insurance protects them further. It's win win for them. assholes)
Also, I really hate to be the shmuck to bring this up, but about the name... is it under your name ? If so , or if not - feel free to hit me up in PM and I can share some Celerity nuggets of wisdom on how to maintain proper boundaries and not piss off your woman.
you homo!
