HI all

Got a loan approval on that 5/1 arm, 2 points, 30 year am

Rate is 5.375 (higher than I thought.I took a hit for some things.. 3 foreclosures vs one etc)

Anyway they say they CAN use my existing appraisal and can close by month end if I can get my stuff in Monday ish next week. Broker is refusing to give me the appraisal at this point.. new lender says he has to by law I(if I paid for it which I did )and will call the bank for me if need be to get the appraisal.

Of course the final approval will happen after stuff is submitted but this is positive news

this will reduce my payment to approx $2550 (INCLUDING taxes and insurance). Now I pay $2970 NOT including tax and insurance) so big savings

However I am waiting to hear on the conventional option and expect news on that today or early next week .If conventional IS an option I likely have to wait til March, 2015 (to have a year of payments on the loan I have now)

If conventional is an option I will wait and do that. if it is not I will take this 5 year arm to get me to the time when conventional IS an option but really thinking I can do it now.

Onward

Leaving for Florida this weekend w my boyfriend..see his daughter and grandkids

No job news

6 homes going great.

3 units. looking to transfer property management to the 6 homes guy next month. .still evaluating.

I can officially pull a free and clear home out of the 6 homes deal this month.. I will work on that once the loan gets firmed up

Set up an auto savings of $250 each month. .will expand that once home, and job and rentals calm down. I am trying to save $1300 this month total.