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refinanced at last

August 2nd, 2011 at 07:28 pm

Painful last week of July. By painful I mean reducing meal portions because the freezer didn't have any protein in it and interrupted sleep due to hunger, check bounced, and scrounging coins around the house to put gas in the car.

At least we had vegetables, and the cats didn't nip at our ankles.

Why so bad? We scrounged $1649.55 of escrow deposit money for our new mortgage. We finally ditched our mortgagor of twelve years in favour of our preferred credit union, who lured us with a fee-free (no application fee and no appraisal fee, but conveyance fee, documentation fees: whyn't call it "fee-reduced" and be honest?) mortgage for twelve years at 3.75%. First payment is September, and we have three pay periods until then. Also the escrow balance of the old mortgage will come back to us.

For the bean-counters out there: "reduced" time period (the qualification to secure the 12-year means having fewer than 12 years left on the old mortgage, which if we had not prepaid by ten payments we would not have qualified for), reduced interest by an estimated $8700, reduced rate by 25%, and reduced interest&principal payment by 10%.

I thought I was going to blow wads o' dough @ Costco hours after the money came into the account but we've been visiting the closer discount groceries.

July was expensive: painted boy's room, framed a Matisse print, moto insurance, swimming lessons - chess membership, and caved into getting a RotoRooter dude over. After twelve years of managing a congested drain by ourselves. Now I know how to keep the drain decongested, and with us it requires more than baking soda, vinegar and hot water once a month.





2 Responses to “refinanced at last”

  1. Jerry Says:
    1313160875

    Hey, sacrifice leads to progress, and it looks like you are through the worst of the situation. Congrats on the refi (and you are right... "reduced-fee" would be a more appropriate name for it), and I hope it leads to some insurance of a smoother and quicker payoff for you and yours. Good luck!
    Jerry

  2. baselle Says:
    1314127460

    Yay, you are back!

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