Saturday, July 21, 2007

Feeling Fractional

Did I mention that our fractional loan has closed? After several months of meetings and paperwork and back and forth on the pros and cons our group completed the fractional refi. Hallelujah. Now I feel like I actually own the place, and could sell it if I had to, and get all my money out. (Since I bought into this building in 2000, for the past seven years I have been living with an unusually complicated financing arrangement, where part of our building was financed by the former owner, and part was a group loan through a bank, with all kinds of fine print about how the payments moved up and down in relation to Treasury notes and each other.) It was definitely time to modernize the finances. Double hallelujah.


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