Closed on House, Open for Debt
Well it's done. I'm a home-owner/debtor/sucker now. The process was simpler than I thought and incurred less paperwork than rumoured. There was a interesting twist though, the second loan did turn into a 15yr ballon loan, which they professed is completely common. I plan to pay it off much sooner than 15 years so this isn't a problem in the long term. Neither loan had prepayment penalties, which is great since I plan on dumping a lot of extra cash into the principal during the life of the loan. I have to pick the keys up from the Title company tomorrow since the seller is won't do his signing until then because he is still moving his crap out of my house. Hmm, technically I suppose it's not mine until he surrenders title tomorrow at his signing, so I can get indignant then. I can't wait!
