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Old 12-06-2006, 05:11 PM   #16
lookout123
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Join Date: Apr 2004
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Posts: 10,308
mortgage tax? what the heck is that?
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Old 12-06-2006, 05:14 PM   #17
DanaC
We have to go back, Kate!
 
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Nice goin HM.
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Old 12-06-2006, 05:22 PM   #18
be-bop
Operations Operative
 
Join Date: Sep 2003
Location: scotland/uk
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3 years ago my Aunt died and left me the money to pay off my mortgage however "she who must be obeyed" decided we needed to move nearer her mothers and now we have a mortgage again **sigh** .
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Old 12-06-2006, 06:09 PM   #19
lumberjim
I can hear my ears
 
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Posts: 25,571
how long was the term initially? oh, and holy shit. i hate you.
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Old 12-06-2006, 06:11 PM   #20
BigV
Goon Squad Leader
 
Join Date: Nov 2004
Location: Seattle
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HM, my heartiest congratulations.

Please don't let the rank odor of JEALOUSY diminish my good wishes. I'm really. very. happy. for. you.

HELoC, a big yes. $1000, no freakin way. You really, really want to get the to a nunnery, assuming the nearest one is located in a CREDIT UNION!! You know, where you own the joint, or at least a piece of it instead of a bank? Seriously. My HOLoC was $79, a "reconveyance fee". Do not pay $1000. You're waywayway smarter than that.

Oh, and you're right to dally wrt the 0% loans. Free money indeed.

Way to go!!
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Old 12-06-2006, 06:39 PM   #21
Happy Monkey
I think this line's mostly filler.
 
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Quote:
Originally Posted by lumberjim
how long was the term initially? oh, and holy shit. i hate you.
30 years. I was lucky enough to buy before prices ballooned. Though at the time I thought it was a lot of money...
Quote:
Originally Posted by BigV
HELoC, a big yes. $1000, no freakin way.
...
Seriously. My HOLoC was $79, a "reconveyance fee". Way to go!!
Thanks! I got the $1000 number from a random website when I googled the term. If I get one, I'll put a bit more research into it.
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Old 12-06-2006, 07:02 PM   #22
JayMcGee
Cardigan-wearing man
 
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You cut a 30 term mortgage to 7.5? That's some going! Congrats are surely due.
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Old 12-06-2006, 07:40 PM   #23
Iggy
Back and ready to tart up the place
 
Join Date: Jan 2005
Location: Kansas
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Wow!!! I am seriously impressed. That must have took some serious discipline on your part! Congradulations!!
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Old 12-06-2006, 07:49 PM   #24
Aliantha
trying hard to be a better person
 
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Location: Brisbane, Australia
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Good work HM! Can't wait till i can post a thread like this one.
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Old 12-06-2006, 08:06 PM   #25
Urbane Guerrilla
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Good show, you're doing better than I am.
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Old 12-06-2006, 08:09 PM   #26
lookout123
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bigV you pay the piper somewhere. either in fees or money hidden in the back end. you're better off "paying more" with a good mortgage professional who will disclose it all. your fees should depend on the size of the loan. anybody who offers a different program is taking an undisclosed amount on the back.
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Old 12-06-2006, 09:03 PM   #27
Happy Monkey
I think this line's mostly filler.
 
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Quote:
Originally Posted by JayMcGee
You cut a 30 term mortgage to 7.5? That's some going! Congrats are surely due.
Thanks! If you start early, it's a lot easier. An extra dollar on the first payment at my interest rate was the equivalent of almost seven dollars on the last. So, an extra payment on the first year was (roughly) equivalent to taking 5-7 payments off the loan. I managed a bit more than that, obviously, but the principle remains (or dwindles, as the case may be).
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Old 12-07-2006, 09:11 AM   #28
SteveDallas
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Congratulations!! Very impressive.
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Old 12-15-2006, 03:44 PM   #29
mitheral
Abecedarian
 
Join Date: Jan 2002
Location: Alberta, Canada
Posts: 170
Congradulations. We're looking to move with an eye to taking advantage of the bubble to reduce our payment. It's quite refreshing.

Quote:
Originally Posted by xoxoxoBruce
One day a letter arrives saying the payment was X instead of Y. WTF.... I call the bank ready to raise hell and was calmly informed the payment changed because it was the last one.
Doh.
I came into some capital last month and when deciding what debt to get rid of decided to pay off my student loans. Mostly because I'd figured the total owning was low enough that it was worth getting rid of the hassle of maintaining the auto withdrawl from an account I don't really use any more.

Anyways I call up my bank to arrange for payment and find out the amount owning and it's:

$13.71

My regular payment this month would have covered it easily. Oh well, at least I can brag that I paid off my loan early by a whole three weeks.
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Old 12-15-2006, 03:59 PM   #30
Happy Monkey
I think this line's mostly filler.
 
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Hee! At least you now can apply that capital to something else, now!
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