myFICO made me get out of the garden

[Appleman]

Yesterday got a message to call mortgage broker. 

He said that we now had a property inspection waiver so he recommended that we go value stated.

It looks like there will be a fee for the appraiser coming out but most of the money will be refunded.

He said that if we let the appraisal finish we would have to use the value good or bad. I agreed that going for the sure thing was likely the correct position.

Hopefully I can close this next week.

[Appleman]

Got the clear to close yesterday and received the Closing Disclosure. Closing the re-finance next Friday.

The only gottcha was that I needed to pay for the entire year of homeowner's insurance (I don't escrow and pay monthly).

Heading to the bank to get the cashier's check so I am ready for next week.

Saving $642 every month in interest and PMI and will not have a Homeowner insurance payment for the better part of a year.

The debt snowball is getting bigger!

[Anonymous]

Congrats Appleman, so encouraging to read great stories like yours. You will have that debt paid down in no time with that payment reduction!

[Appleman]

Always a bump in the road....

Today I go to NFCU (Navy Fed CU) to get the cashier's check for closing next week.

The teller informs me that she needs to move the $1,800 from checking to savings as the cashier's check will be taken out of the savings. I agree and she continues.

I get the cashier's check made out to the correct business in the correct amount and head on home. In the early afternoon I log-in to check my balances and my savings account is overdrawn by around $350.

It turns out the teller only moved $1,200 from checking to savings and this made the savings account overdrawn on-line. There is enough money in checking.

I immediately transfered the additional $700 from checking to savings to bring the savings account back into the positive.

So a few questions for the forum members:

1. I imagine the cashier's check is still good? I worry that my savings account showed a negative balance for a few hours and hope they would not place a stop payment. And can that be done on a cashier's check?

2. Do you think NFCU will charge any over the limit fees for the temporary negative balance?

Mistakes happen, just don't want to have any issues with the cashier's check and closing.

[Appleman]

Closed the re-finance today! Signed all of the paperwork and paid with the cashier's check.

I have 3 days to change my mind (must vary by state). The funds will be wired to my current lender next Wednesday. Next payment due September 1st. Morgage specialists said that they are likely to sell off my loan as they usually only service their FHA loans.

Signing took 30 minutes, was a very quick process.