Approved (a bit too late)

Well, it's not really too late, it seems we are going to benefit from this after all, I'll explain in a second.

On K's birthday (this past Wednesday) our mortgage renegotiation was approved. We learned yesterday. First, when K called the bank to ask about the payoff of the loan for the closing and they told him it had been approved, and then, when an overnight package arrived with the contract to be signed and mailed back.

Initially I was upset about it because it took so long and we were thinking that this approval wouldn't interfere with the payoff (i.e. it would still be higher than it would have been had the renegotiation been finalized earlier). Then, we were doubly upset because the bank told K that they might not be able to provide the title company (or the settlement company, I don't know exactly who) with a payoff amount by the date of the closing (which is in 6 days) -- they said it might take more than a week. WTH?

Today, however, our agent called to let us know that the bank has sent the payoff amount and... surprise! It i lower than we had anticipated it would be (back in March we'd asked for this figure and it was higher b/c of the accumulation what hadn't been paid). We're suspecting that they lowered the interest for this past year or something -- already part of the renegotiation.

We're not about to go argue with the bank and ask whether this is the actual figure or not, but we'll wait until the closing passes and the money is wired to believe that we are indeed going to make a few more thousand dollars on this sale. Phew!