Jims5543

Welp I am in debt again. Wahoo!! I just bought a house along a major corridor that I am going to rezone commercial for my office. I closed today on it after a rediculasly stressful week trying to get financing with my crappy credit, I think I scored a low 500. I got a 7.25 fixed mortgage for 30 years... damn interest rated were going up faster than I could get a lock!!



The 7.25 was a favor considering my crappy credit. Its also higher than normal because this is my second house so its conidered an investment property. Its good to establish a good relationship with your local bank. Everyone worked their *** off to get me closed today and I am very appreciative for it. The manager of the Mortgage dept. even signed off on my loan and gave it to me no matter what happened.



We threw everything into the Garage today and we are gonna organize it tomarrow. The cool thing is that I actually own my office now and I am not padding a landlords pocket.



Pics coming tomarrow.....

banzaitoyota

CONGRATULATIONS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !111



I know you have been stressing over this. Now have a beer on me! (Literally)

Jims5543

DSL will be back tomarrow!! The 3 of us will be in NP Winter Retreat mode for the next 6 weeks. Too bad we are busy as hell this is a rather unusual holiday season this year. We usually have a slow January. We have over 70 Boundary surveys to do on top of our regular day to day work. Not slow at all. But good because the business account is empty right now and I need to build it back up.



**heads to fridge for a ice cold Kalik**

GreyGT-C

woo hoo!!... party at Jim's house!!

mazdadrifter

it's 1.6 miles from my house too!! i'm getting a pocket bike!!!



waahooo!

Rob x-7

CONGRATS!



hopefully you can get that loan refinanced in a year or 2 after good payments, I lowered mine 2 points after I paid all my payments on time.



I had to initially take a high loan because of not being able to show all my income, hard to get a mortgage in NY on one income, refinanced and lowered my payment $1000 a month

Jims5543

If all goes well this loan will be paid off in full in 5 years.



What realy pissed me off is that I HAD to pay off a bad debt. Form Motor Credit decided it would be better to repo my Toyota truck rather than work with me. So I told them to go **** themselves they would never get another penny from me.



They sold my truck for 1/2 of its actual wholesale value and stuck me with the 6K balance. 2 years later I got a call from a MR. Lyons from Fidelity Collections in Texas and I told him if he wanted to end this bullshit accept my offer of fifty cents on the dollar since FMC decided to give my turck away at 1/2 price lets keep the trend going.



He accepted and took my credit card info (amex) and charged 3K on it. Then turned the remaining 3K over to another collection agency. He would never send me a reciept.



So now almost 5 years after the Repo I had to pay the remaining 3K off at closing.



I will get the last laugh. I am having AMEX reverse the charges next week and I am filing a police reoprt for credit card fraud on Fidelity Collections unti they produce a recipet for my offer.





I hate Credit Reports I hate banks I hate playing the "good credit" game.



I will pay off this house in 5 years or less and be done with mortgages and loans forever.



I only have 30K left on my own house and then I will get the office/house paid off and be debt free for the rest of my life.





I hate banks!

Rob x-7

sounds like a plan, i sometimes forget that houses are cheaper elsewhere, I could never pay off my house in 5 years

mazdadrifter

i think your the only new yorker that has forgotten!!! half of the people in this town are from new york or jersey

Jims5543

Yeah!! LOL!! Port St. Lucie is also known a New York South.... very south.