Friday, January 8, 2010

High Finance

Well we finally closed on our construction loan yesterday.

Here is Dean at the lawyer's office all ready to sign our lives away...

OK - so here comes my rant:

What a racket this whole financial mess is! The government's TARP bail-out was supposed to make it so banks would give loans to get the economy rolling again, right?

We stand ready to do our part stimulating the economy and putting some building trades to work.

So why did it take about 3 months to finally get approved for this loan? -And this is with an excellent credit score, and an excellent work history in a recession-proof and well paying job... Not to mention how we supplied them with ALL of the documentation that they asked us for. And paid them a nice fat check for closing costs.

So we each signed the 50 or so pieces of paper placed in front of us. And do you know what all these documents basically are saying? They are saying that the bank has got you coming AND going!

  • If the house burns down - you pay
  • If you get divorced - you pay
  • If the property turns out to be a toxic landfill - you pay
  • If the contractor drops the ball - you pay
  • If the lawyers make a mistake - you pay
  • If the bank makes a mistake - you pay
  • Etc, etc, etc....

And get this: After all that, we still don't have our money yet! We might get is sometime next week. Can you believe this!!

In other news, the house continues to progress. The majority of the interior framing is done. Here are some progress photos > you can click on the pic to get a larger image.

The upstairs is not a full floor - it is considered a half floor - which means that we have several spaces that are under the eaves...

Here is the upstairs bathroom

Here are some views of the first floor.

This one is taken from the kitchen.

Here are a couple of views of the downstairs bathroom. The shower surround has been tucked into its spot.

Some of the exterior door locks have been installed.

The rough plumbing should be starting soon.

Dean has been working on insulating the roof rafters. I'll try to get some pics this weekend.

Unitil was out this week > the fish line (that we worked so hard on about 3 weeks ago) which will be used to pull a bigger rope through, which will then be used to pull the actual wires through - appears to be frozen - so they were unable to work on pulling the power lines. Dean is scheming on ideas to thaw out the conduit...

Because of the frozen earth, completion of the septic is totally on hold - probably until spring... Maybe we will have our loan money by then??

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