The re-inspection went so incredibly well! My inspector had a huge grin on his face. “They really did this right. I can’t believe how much money they put into it.” I’m so excited. I’m officially buying a house on Friday!
Still waiting to hear the final total that I have to bring to the table on Friday. That’s one thing that I find annoying. I’ve got an estimate, which I was told was probably a high estimate. I should hear tomorrow or Thursday. So that’s really the last step.
Yesterday was a bit of a crisis. As I discussed with my loan officer, I had money for my down payment in CDs and I was going to cash them out early. No big deal, right? Right. Oh wait, except it is. Why? Because in cashing out those CDs, I suddenly had more money in my savings account and I couldn’t prove where it came from. From the closed CDs, of course. This seemed clear to me. The note in the savings account (made by the bank) even said “Deposit from closed CD.” But that wasn’t enough. I needed proof of the closed CD. And in trying to get this from the bank, I had to jump through a million hoops. Because they, like me, didn’t get why I needed more proof.
But I managed to get the info (after running over to the bank and begging – which my loan officer tells me is not an uncommon thing). So all is well.
The lesson? Don’t wait to cash out your CDs. Or make sure you have all sorts of paperwork for the closure of the CD account. Because it is a mess.
Megan is a 40-something government employee in the Washington, DC area. She got interested in Personal Finance when she got out of college and realized that her paycheck wasn’t going to go as far as she had hoped. Since starting this blog, she has managed to buy a house and make a solid start on her retirement goals, and hopes to help others do the same. Here is her story:
In 2007, I was a gainfully employed 20-something with no debt but not a lot of knowledge about personal finance. It was a co-worker’s comment about Roth IRAs that sent me to the internet, searching for information. It was then that I realized that I really didn’t know a whole lot about personal finance and that my current financial situation was due a lot to inherent frugal tendencies, generous family members, a fear of debt, and good luck. While that was working for me, clearly I needed a better plan.
While I had no debt, I was also pretty much living paycheck to paycheck and not worrying about going over budget (I say this as if I had a real budget) because I had an emergency fund set aside to cover any overages.
Except that’s not what an emergency fund is for.
So I did a lot of research, read a lot of blogs, and decided that I needed a plan. I needed to budget. I needed to know what I was spending my money on. I needed to prepare for the future.
I decided to create a blog not only to make myself accountable to others but also to share the knowledge that I gained along the way. I’ve learned so much from my fellow bloggers, and I hope that my readers can find something useful in what I have to share as well.
Angela (Cottage Magpie) says
Yay for you! Very exciting! And I’m not surprised by the oddball request. Every house I’ve bought there’s been some wacky paperwork that the loan officer or underwriter wanted that was supposedly “not normal” to ask for. But they always want something! Funny how that is.
I think they just like to see how many hoops they can make you jump through!
Congrats on the house! I need to go Google CD. I thought CDs were compact discs… but I’m assuming it’s an American ISA or something?