{"id":402,"date":"2009-06-22T22:02:08","date_gmt":"2009-06-23T05:02:08","guid":{"rendered":"http:\/\/www.ahousebythepark.com\/journal\/?p=402"},"modified":"2009-06-29T22:22:08","modified_gmt":"2009-06-30T05:22:08","slug":"refinance-closed","status":"publish","type":"post","link":"https:\/\/ahousebythepark.com\/journal\/archive\/2009\/06\/22\/refinance-closed\/","title":{"rendered":"Refinance Closed"},"content":{"rendered":"<p>I finally closed my <a href=\"https:\/\/ahousebythepark.com\/journal\/archive\/2009\/05\/10\/adventures-in-refinancing\/\">refinancing<\/a> a few days ago and am happy to have that long chapter behind me. The process started way back in February and because of some ridiculousness by Countrywide and then several more hoops to jump through at Wells Fargo, it didn&#8217;t end until now.<\/p>\n<p>At least I ended up with a 4.875% rate, which I couldn&#8217;t be happier about, especially considering rates have risen substantially since I locked.<\/p>\n<p>I remain aghast, however, with how much waste and financial nickel-and-diming there is in the mortgage industry.  All I did was change the rate of my existing mortgage <em>with the same bank<\/em> and pay the principal down a bit. That should have been achievable with a simple phone call, but instead took months of back-and-forth, credit checks, paperwork, and all the other trimmings of a full mortgage application. Not only does Wells Fargo get to keep my business but they also make money on all the fees, including <strong>escrow<\/strong> which shouldn&#8217;t even be necessary since it&#8217;s the <em>same bank my existing mortgage was with<\/em>.  Now I know why Wells Fargo owns their own escrow company. I think it sucks that banks can do &#8220;mortgage modifications&#8221; for people in a few minutes over the phone but refinancings take forever and require full paperwork.<\/p>\n<p>Anyway, the final hurdle is now cleared. Deconstruction is scheduled for early July.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I finally closed my refinancing a few days ago and am happy to have that long chapter behind me. The process started way back in February and because of some ridiculousness by Countrywide and then several more hoops to jump through at Wells Fargo, it didn&#8217;t end until now. At least I ended up with [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[8],"tags":[],"_links":{"self":[{"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/posts\/402"}],"collection":[{"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/comments?post=402"}],"version-history":[{"count":1,"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/posts\/402\/revisions"}],"predecessor-version":[{"id":403,"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/posts\/402\/revisions\/403"}],"wp:attachment":[{"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/media?parent=402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/categories?post=402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/tags?post=402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}