Update on the Floors & A Bank Rant
The refinishing of the hardwood floors is going along really well.
I started by using Rust-Oleum Brand Verathane Wood Stain in the Golden Mahogany color. I chose this stain color because it matched well with the trim stain but wasn't too dark so it won't make the room feel smaller. My interior designer (aka MOM) agreed with this assesment.
After staining I have put down 4 coats of Water Based Polyurethane from the same brand. I plan on putting down one more coat after work today and then after that sets up I will finely sand it down to get rid of any rough spots in the finish. I will then wipe down the floor to remove any dust and put on the final coat late this evening.
After that I can finally bring in my furniture for the living and dining room. It has been 6 months since I bought the house and I am just now getting to the point where I can bring in actual furniture other than the bare necessities (ie. Bed, Cloths, Small TV, Camping Chairs).
Well now it is time for my rant on how frustrating it is to work with a large banking conglomerate. This really has been something building up ever since I opened a personal account. It feels like every couple years a large bank will buy the branch where I have my money. I think it is finally near the top of the food chain since my money is now held by CHASE. When I decided to buy my house it worked out that I needed to get a lender quickly since the house I was purchasing had just been forclosed on and the bank wanted to turn it over ASAP. I shopped around the best that I could in the short time I had and it sounded like using my "home" bank would be the best bet in the long run. They told me that getting additional loans to work on the house would be no problem and they would work with me on getting a home equity line of credit relatively soon after doing some minor work. Well if you read back into the trouble I had with them delaying closing, dragging their feet, not returning calls, and basically doing everything in their power to tick me off (link or basically read any post in Feb. or March) you might see my point.
Well now I have come to the point of my renovation where I need $$$ to continue. I have basically been doing all my work using a good portion what I make each pay period and diving into savings. Not really a good option but it has worked ok so far. The major purchases such as the appliances and furnace/heat pump I have put on credit with a 12 month / 6 month interest free perk. It has been 6 months now and the $5,000 for the furnace is getting close to losing the interest free period so it would be wise to get it paid off so I don't have to pay back interest. My plan was to get that line of credit or some sort of a loan so I can pay off the bills I owe and have some money to put in my cabinets. I went in and talked it over with my bank branch and was assured that this is a very easy process and I will have no problems getting the money I need. I will have a computer evaluation and then I should get approved for what I need, no problem.
Big mistake here on my part - Don't put all your eggs in one basket.
Chase just Egged me so to speak. First they offered me a crappy rate on the line of credit, but I figured since I will be refinance here in about 6 months it wouldn't matter too much. Then they had an appraiser come out, even though they said they wouldn't have to. No big deal but it would make the process drag on longer. When I met him everything sounded fine and he indicated there was a good deal of money invested in the house already. I take that as no problem bud you should see good results. I get my hopes up thinking that I might be able to get enough money to buy my cabinets, pay off items I have bought on credit, and have some extra money available so I can plan for the upstairs.
I hadn't heard anything for a week so I called my Chase banker and left a message. No returned call but hey I am getting good at following up so I did.
Oh sorry Mr. Nelson but you have been turned down for the line of credit. Have a nice day!
To make a long story short, the kitchen cabinets will have to wait a little longer. Oh yeah and I am also in the process of finding a new bank to handle my finances. I am going to shop locally from now on.
posted by Jonathan @ 10:05 AM
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