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  1. 06-19-2007, 04:47 PM #1
    Ceashels
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    Default Refinance went thru!

    Well the refinance of the house went thru last Thursday and the monies were put into the account today. Hubby has borrowed enough to cover all the credit card debts he had and they will be payed off tonight. It takes the debt he had from 18-29% interest rated down to < 7% and that will save him/us so much more. I also keep the credit cards so they don't get used unless we have the cash to pay them off.

    Our monthly mortgage doesn't change all that much and it free's up several hundred dollars that will be going into an interest bearing account.

    So on paper we will be credit card debt free!!!, putting money into an interest bearing account to establish a strong emergency fund, and putting money back into his 401 and savings account.

    Not only do i feel we are on the right track... but more importantly, i think hubby has realized that the new track is the right one.


    The Free Spirit Saver who walks the path with Greebo.

    Onboard with a modified Dave Ramsey Plan
    Budget: "Every month! On paper, on purpose!"


    Gardening somewhere between Zone 6b and 7a.
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  2. 06-19-2007, 06:12 PM #2
    geckoace
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    Default

    thats great! that will get you on the right track and hopefully get you house debt free quicker.
    we are thinking of refi so we can get rid of pmi and combine the home eq loan. also i would switch insurance cause we pay it all into escrow
    Reba

    When you come to the end of your rope, tie a knot and hang on.
    — Franklin D. Roosevelt

    2012 STATS
    Reading Challenge 8/50
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  3. 06-19-2007, 06:33 PM #3
    Luv2BeFrugal
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    That is SUPER!! Congrats!!

    You're gonna be able to really snowball your mortgage, too!!
    Kace - married to Dh 12 years

    Love to

    Full-time homemaker, part-time worker, college student. Always pinchin' pennies!
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  4. 06-20-2007, 01:34 AM #4
    Jenna
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    Default

    I also keep the credit cards so they don't get used unless we have the cash to pay them off.
    Good to see you'll be avoiding that trap!

    You should be able to make headway now that your interest rates aren't so high.
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  5. 06-20-2007, 01:50 AM #5
    bumplett
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    good news!!
    Don't Breed or Buy While Shelter Pets Die

    married 16 yrs to my
    mom to big J (15)
    mom to little j (8)
    Zena Cherry Sara Knat Lucky Chianti Abby Alice Jasper
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  6. 06-20-2007, 10:14 AM #6
    miss_thrifty
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    that great news. Ur on the right road.
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  7. 06-20-2007, 10:26 AM #7
    Jayne
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    that is wonderful news!!...
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