I'm sooo excited!!!
by, 03-03-2009 at 12:37 PM (925 Views)
I just cut up another card! YAY!!! AND closed it.
We spoke to the bank, and we're moving ahead with the new financing. We got a great rate. With any luck the rate will be a little lower when we go to sign the papers.
NO penalty, as expected, due to the type of mortgage in the end, and possibly no closing fees depending on what banking "specials" are in effect. We'll know more in the next couple days on that. Our rate might be .25% less as well 4.05% would be awesome!!!
We'll be down to $200/week for mortgage payment!!
He told me to go ahead and close whatever $0 balances we have. It won't affect the mortgage, infact since it's a refinance, it's better to get rid of some of the available credit, and we're closing several things after we get the money transfer
I'm very very excited. This will all be finalized next week!!!!
I may have asked for $$4000-5000 too much, now that I ran all the numbers. But told dh once everything is paid off, whatever is left, we'll just deposit onto the mortgage as a prepayment. No big deal. Better safe than sorry, for whatever closing fees come up.
I feel so so so excited. Now dh isn't thrilled, entirely, as our mortgage is up again, and he'd like it to be paid off by the time he's $50(that can still happen). BUT, he does understand that in the long run we're better off. We'll have money in the bank, and closing credit accounts And moving forward and onward!
I'm working out the numbers for a new budget based on new mortgage etc. So we can have savings done every pay.
If we can stick to that, we'll be moving full steam ahead. And be on track for a 10 year payoff anyway, if we don't get laid off.
Also when we get the dispursement and pay everything off, I want to lower our credit card limits. We only use the to book hotel rooms a couple times a year, and occasionally order online, so $1500 should be more than enough.