Their job is to make money

Waiving the closing costs cuts into their profit. Providing the appraisal cuts into their profit. A small town bank probably doesn’t make enough money to give away perks like that.
Rolling the closing costs INTO the loan means the loan is higher by $2500, which the house won’t support. Regardless of their fees, it sounds like thay can’t give more than about 70% Loan-to-Value(86K is about 68% of 126K). THAT is your deal-killer. I’m in a similar situation, although a bit worse because I’m underwater. My loan is an ARM with a balance of $101,500. I’d love to refi to a fixed rate, but the house is worth less than $80K. So the property won’t support the loan that I need.
In your case, you’d have to find a different bank that would support a higher LTV – you’re looking at about 90%. Problem is, such a loan would have ridiculous interest rates, so you’d essentially be right back where you started, AND be out the appraisal and closing costs…

I have started working on Nov’s budget

Most months it’s just tweaking since not much changes around here. We have given our long-term care insurance agent the go-ahead to pursue the policy we chose. Have to go through the medicals to get approval. He is also checking into a rider for dd. I really don’t think she’ll pass the medical part due to her history but we are going to try it. One thing we found out is that not that many agents/companies sell LT ins here. Maybe it’s different in other places.

It is ironic that this agent has read several of DR’s books but still believes in whole life insurance. We do not have any other insurnace thorugh him other than the long term care are applying for. He seems to like several of DR’s ideas but has not drank the cool-aid yet.

We are working on getting things together for our accountant. Gonna try to have it there by the end of the week. Since we have to pay every year now we are not in a hurry to write that check. 🙁 Our accountant files for an automatic extension for everyone, as most accountants do. Last year it was like October before we actually filed. First time since we bought out my dad taht we ever filed that late. I told dh that I didn’t like filing that late and to ask if we can get bumped back up to the top of the pile.

Yes it is all crazy!

My poor sister was hoping to get a mortgage loan this year, and since she has no credit cards, paid her car loan with all on-time payments and saved up about 30% cash for a downpayment she really thought she would be seen as an eligible candidate.

Wrong!

Lenders (several!) have told her she needs to open 3-4 “lines of credit” and use them lol.

Why should a good score be based on the fact that you want spend more money than you have? She’s been responsible on her modest income, caring for 4 children and saving, saving, saving.

She and I talked about it and she’s decided to just continue saving cash for now, because she doesn’t want any credit cards! Maybe in another few years she’ll have enough cash to buy a fixer upper home and then put in some sweat equity.

Months ago I made our mortgage countdown calendar

to put on the fridge with teddy bears for each month. (Photos in the photo section) At first dh was “that’s nice”. After awhile ds started remarking that the numbers were dropping fairly fast. But dh still barely acknowledged it.

With all that has gone on this last three months I haven’t even been able to do a full snowball payment, but I have paid a little extra here and there.

Tonight I changed the bears and did an update, under the very watchful eye of dh. I turned around to see him grinning ear to ear. He then remarked about how much we have dropped that bill tremendously in just a few months. It seems he has been paying attention all along. In fact he was the one that pointed out even with just basic payments we will break the $50,000 mark in just 2 weeks!