How to fix too long sweater?

[kajomo]

Ok, I am a fairly new knitter, but have knitted a couple of sweaters so I am familiar with the bottom up method and seaming the pieces together.

So the question, I have this purchased sweater that I LOVE! The problem is, it is just about 3 inches too long for me...it hits me at the widest part of my body and isn't flattering. Here is my thinking....If I run scrap yarn about 2 inches from where I want the sweater to end, and cut....then cut out the middle part leaving the 2" ribbing on scrap yarn and then do a 3 needle bind off to rejoin them, that would work, right? I know it would make the sweater shorter, but would it look stupid since it would have seam? I would much rather put the sweater on a needles and unravel and reknit, but I would be backwards since this was knitted bottom up, right? Is there a way around this?

There may be a much easier way to do this that a more experienced knitter can help me with...I would appreciate the help!

THANKS!
Karen