tag:blogger.com,1999:blog-13259011.post6791387924088661056..comments2023-12-14T07:05:21.979-08:00Comments on Chief Family Officer: We're Finally Re-Financing Our MortgageChief Family Officerhttp://www.blogger.com/profile/02320154821990804327noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-13259011.post-39407038579177598912008-12-07T20:32:00.000-08:002008-12-07T20:32:00.000-08:00Brittany - Great job! :)@Anon #1 - I agree, auto d...Brittany - Great job! :)<BR/><BR/>@Anon #1 - I agree, auto deduction is awesome!<BR/><BR/>@Anon #2 - My inclination is to say it's not worth it but you'd really have to run the numbers to know for sure. You'll want to calculate the total interest you'll have paid at the end of your current loan and compare it to the total interest you'll pay if you refi. I used <A HREF="http://www.bankrate.com/brm/mortgage-calculator.asp" REL="nofollow">the mortgage calculator</A> at Bankrate.com.Chief Family Officerhttps://www.blogger.com/profile/02320154821990804327noreply@blogger.comtag:blogger.com,1999:blog-13259011.post-88819569444458591702008-12-07T15:04:00.000-08:002008-12-07T15:04:00.000-08:00I have a 7.5% interest rate and never got around t...I have a 7.5% interest rate and never got around to refinancing. I "only" have $25,000 left on my loan. Even at my current rate I'll have my loan paid off in 5 years if I keep up my $200 extra monthly payment. Is it worth it to even think about refinancing at this point?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13259011.post-9450391774892365992008-12-06T19:47:00.000-08:002008-12-06T19:47:00.000-08:00One of the easiest ways to pay extra on the princi...One of the easiest ways to pay extra on the principal each month is to have your mortgage payment automatically deducted directly from your checking account, with the extra principal already built into the amount (even if it's only an extra $25 or $50). Once you're comfortable paying that amount, then up it another $25... We currently pay $225 extra each month but because it's automatically deducted, we think of it as our actual mortgage payment. If you wait around until you have extra money to apply to the principal, you'll never do it. Plus, our mortgage company gave us the option to have the payment deducted from our checking account anytime between the 1st & the 8th of the month, so it's great to have a few extra days before the payment is due.<BR/><BR/>Karen in So. MDAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-13259011.post-34827493685315634262008-12-06T07:49:00.000-08:002008-12-06T07:49:00.000-08:00We re-financed in Jan 2002. We went from a 30 yr ...We re-financed in Jan 2002. We went from a 30 yr mtg at 9.25% (we still had 22 yrs left on it) to a 15 yr mtg at 6.75%. Our monthly pmt went down $20. We have 8 yrs left! Yay!Brittanyhttps://www.blogger.com/profile/15712840271445816783noreply@blogger.comtag:blogger.com,1999:blog-13259011.post-34470147851786659862008-12-05T15:30:00.000-08:002008-12-05T15:30:00.000-08:00Great Post!! I have also posted this article on my...Great Post!! I have also posted this article on my facebook account encouraging people to refinance!! I would loe to assist any of our blogger friends to utililze my website to track rates and inquire about refinancing. I lend in all 50 states. Check out my site www.lisaneicen.com<BR/><BR/>Thanks!!Anonymousnoreply@blogger.com