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Birth-of-Venus

Retirement looks a little more possible today

I took the advice of some of my coworkers and visited the bank that holds my mortgage. They modified my mortgage from a 30 year (with about 24 years left) to a 15 year one. And at a much lower interest rate (over 1% less.) It only costs $92 a month more. We've been putting an extra $200 toward the principal each month in the hopes of paying it off before we're senile. Now, we'll make it $100, so we're not really putting out anything different than before, but we'll pay it off in a little over 12 1/2 years. That doesn't sound like so far.
I left the bank feeling like it was Christmas.

Comments

Oh that's good news Pearl.
They say it's wise to go and do a mortgage check every now and then just to make sure you're getting the best deal.
Scary stuff when interest rates going up.
Comforting to know you're paying off the most you can.
Birth-of-Venus

August 2008

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