Tuesday, December 04, 2007


I almost forgot that this is my little Condo and I's first anniversary!!! I am so proud of myself:-)
Let me break into song for a minute:- 'they said...i bet...they'll never make it, but just look at us going on...we're still together, still ging strong! lalalala you're still the one i run to....' okay let me stop:-)

When I first went house hunting, I decided against buying single family homes and stuff that would involve me mowing the lawn or something! I settled for a condo coz it's nice, neat and cute...u know, kinda like...me:-) I was working full time and in school full time when I was trying to see about getting a mortgage. I figured I wouldn't qualify for some reason...well maybe because I hadn't checked my credit score in 2 years, so I didn't know what to expect. Then I got the shocker news! Fannie mae and Bank of America thought I was worthy of a 6.5% fixed interest rate for 30 years mortgage! I couldn't contain myself! I bought my condo at $30 000 below it's value and the realtor I met that lives in the area assured me not to worry coz we have one of the best schools in Maryland right here. So I guess by 2009 the crazy house prices will go up again... maybe.
I was so busy at the time I made my purchase, yet I made sure that sucker said FIXED interest. I took a 2 minute crash course on mortgage rates on the fannie mae website, and voila! That's why I don't get it when people sit and moan about variable interests and how the loans officers didn't "explain" it right. C'mmon! who the heck thinks the loan officers give a damn whether you drown in payments? You need to look out for youself and investigate stuff! The loan officer is paid to sell the loan to you...comprende?

Any who... i have been contemplating refinancing my mortgage to try and lower my interest rate...coz a sista needs some extra cash and out of the mail box came this letter from Sentrust Mortgage LLC. They are based in the DC/MD/VA region and apparently offer something called the 'community Reinvestment Act' passed by congress to do...blah blah blah... all I remember from the mail is that they offer a discounted program for mortgages and offer great debt consolidation from what i see here. The catch is you have to make under $60 000 a year... with all the cancellations i have had at work, I might just be under that goal, or be right at the mark. Which ever way, i will wait till the feds cut more rates next week...lol. The recession might work to my advantage:-)

I am blessed with a job that doesn't lay off... so I am not worried about things going down hill. I remember the last recession in 2001, and my friend was laid off. I was a manager at some cafe and I had people with mba's coming in looking for a job... i was like...OMG!

Not everything is positive though coz my damned condo fees went up:(

1 comment:

kokakolafanta said...

awww you made it! I want a house too! does that mortgage company cover where I live? pasani ma details!