2nd Home Refinance

The Details:

Home mortgage interest rates were really low in 2021 and I hadn't refinanced since 2012 when I went down from a 5.875% 30-year-fixed to a 4.625% 30-year-fixed.  When I saw rates as low as they were this year, I decided to inquire if it would be worth it for me in order to pay off my house quicker.

With my 1st refinance with Wells Fargo, my monthly payments on a $235,000 home was about $1600/mo at 4.625%.  On top of that, I would add $50 of principle every month for the past 9 years to shorten the life of the loan.  All of my credit card purchase rewards with my Wells Fargo Credit Card would go towards the principle as well, which ranged anywhere from $25-75 a month.

Before I inquired about a 2nd refinance, I was on track to pay off my house in 11 years, so by 2032.  After talking to Wells Fargo about my options, I decided to refinance with a 15-year-fixed at 2.25% for the remaining $127,000 on my loan.  However, my plan was not to pay the minimum monthly payment of $1070/mo, but add $600 of principle to basically maintain the same exact payments as I have right now, which is comfortable for me.  In essence, I would basically be able to pay off the house in 8 years now (by 2029) without having to do anything but sign some papers.

The Annoying Experience:

I went with Wells Fargo because my original loan was with them, my first refinance as well, and I have a credit card too and to this point I have enjoyed their services and rewards.  However, this time around, I had an annoying experience with their Home Mortgage team.

At first, the mortgage consultant, the mortgage processor, and the mortgage closer were all really helpful in helping my pick a refinance that meets my goals.  They would check up with me daily to make sure everything was going smoothly.  The process finally got to a point where I was ready to close and all I had to do was sign papers in front of a notary.

In 2021, branches were still limited in bank personnel because of the COVID-19 pandemic.  However, they still scheduled me to meet with a notary at one of their local branches close to my home on a Monday afternoon.  I went to the Wells Fargo at 2pm and waited 30 minutes for the notary to show up and no one appeared.  I contacted my closer, who then told me that it was actually scheduled for Wednesday afternoon.

I returned to the same branch on Wednesday and waited another 30 minutes, with no appearance by a notary.  I tried to contact the closer and was unable to reach them.  They didn't respond to my voicemails or my emails.

The next day, I called Wells Fargo to file a complaint.  At this point, I basically felt like the mortgage closer no longer cared about me since the deal was already been done.  All that extra daily attention is gone and I'm stuck wondering what's going on.  After I filed a complaint with Wells Fargo, the closer immediately called me and tried to get something scheduled for Friday, with the notary coming to my house this time for my convenience.  I finally saw a confirmation for an appointment and was able to sign the papers and finalize my loan.

As a result of my poor experience, I was gifted a $300 value item off their Wells Fargo Home Mortgage gift program to compensate for the bad service.  I don't know if it really makes it right, but I redeemed a Ninja combination air-fryer and pressure cooker with the gift.  I was planning on getting one anyway and that was really the only gift on their website I thought was worth getting.

In conclusion, my experience with Wells Fargo Home Mortgage started out well, but once the deal was ready to close, things went south badly.  I eventually got it done and the compensated me, but based on this experience, I'm less likely to use them again should I ever need another home mortgage loan.

Anyway....

At least I finally got my home refinanced how I want it and I was able to take advantage of low interest rates!

Ann's Bachelorette Party in Flagstaff/Sedona; APA 8-Ball City Tournament

Ann's Bachelorette Party in Flagstaff/Sedona (Feb 19-21)

This past weekend, I attended my friend Ann's bachelorette party in Flagstaff and Sedona.  I had only attended bachelor parties up to this point, so this was a first for me.  However, I do agree with her philosophy: why not just invite all your friends regardless of their gender?

On Friday night, we arrived in Flagstaff and stayed at a large AirBnB.  Living in Arizona, I don't see snow very often, so it was nice to see some when we arrived!  The first night was pretty chill because we got in fairly late, so we just played some Playstation 5...something I can never complain about. :D

On Saturday, we drove out to Sedona to hike the "Devil's Bridge Trail".  It was about a 4-mile hike and the top featured a stone bridge where many people got their picture taken.  I don't ever do much hiking, in fact I probably did more hiking on Saturday than I have in the past decade. :P 

After the hike, we stayed in Sedona for food and drinks and finally made our way back to Flagstaff.  The girls did bachelorette stuff that night while I grilled some steaks and cooked mashed potatoes and asparagus for everyone.  It was nice to see Ann this weekend and hang out with a bunch of friends in Flagstaff and Sedona, a couple cities I've never really experienced visiting before.  Ann gets married in early March!

 

APA 8-Ball City Tournament (Feb 19-21 & Feb 26-27)

The same weekend I went to Ann's party was the same weekend we had the cities tournament for 8-ball.  Fortunately, the team could still play without me and they played well enough to advance to the next rounds!  The tournament usually spans a weekend, but this year it's occupying two weekends since less people can be at the pool hall at a given time (COVID social distancing and health + safety protocols).

We are currently waiting to play our next match on Friday night and it's win or go home from that point forward.  The best my team has ever made it is to the semifinals, so here's hoping we can pass that this year!  Would be so cool to qualify for Nationals!

Everything's Broken

In case you didn't realize, there was no post in December, which is the first of the many things to be broken. I usually try to post once a month, but sometimes there's just nothing to blog about. The theme for me this month has been things breaking on me...and ultimately needing repairing or replacing.

One of my 70" TV's (the top one, which is the older Sharp TV) finally had its backlight burn out.  There is no longer a picture, but the audio still works.  This TV has had so many problems from the day it arrived and it finally reached its end of life after about 7 years.  I've ordered a new 70" LG that should be arriving next week, but it will still be a pain to remove the old mounted TV and put up a new one.

Another item that recently broke on me was the ceiling fan in my master bedroom.  One night, I yanked the chain that adjusts the fan speed and it just snapped off.  The fan is permanently stuck spinning, but at least it's in a favorable setting which is speed 1 out of 3 (so the lowest spin).  However, there are times I definitely want to boost that up or turn it off completely without turning off the light. :(

The final item that is breaking down on me is my car.  It's got over 180K miles, so I know things will continue to break down around this mileage, but the next things to go were the tire pressure sensors and the climate control & radio.  The tire pressure sensors I could replace but for $90 a piece, which doesn't seem worth it.  And the climate control & radio could likely cost me up to 2 grand. :( Fortunately, the AC/heater still works, it's just permanently set to 74 degrees.  The music also works, but it's hard to tune into stations because I can't see what frequency the radio is on, so most of the time I just listen to mp3 CDs.

I also think the termites are back.  One made it into the house, I could see it through the wall.  So that's just another thing, but it feels like there's always something around the house that needs fixing. :(

Anyway, I hope all is well with you guys and thanks for stopping by today!

Happy Thanksgiving!

Today is Thanksgiving and also the first time I've ever spent it alone in Tucson.  This year has been difficult with COVID, and my dad is especially paranoid, rightfully so being 70-years-old.  I told him it's fine if we don't celebrate Thanksgiving on November 26th.  It's just a day and if we really want to, we can celebrate it later after things are a little safer.  It's certainly been a little weird hanging around today and not being with my parents and my sister's family, but it is what it is.  I ate leftovers for lunch and am gonna make spaghetti for dinner, it's just another day.

It feels like we just can't shake off this pandemic, but I'm still trying to stay as active as possible.  Fortunately, I can work remotely for IBM and they are still taking care of me.  I've been working on my Twitch stream and content more than ever lately.  And I've picked up a Monday pool league in addition to Tuesday nights, while also bowling on Thursdays.  I still hit the gym as often as possible, but with all the activities going on, it's more like 3 times a week.

Anyway, stay safe out there and see ya next month.  Thanks for stopping by and Happy Thanksgiving!