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Mortgage Payment #41

September 3rd, 2011 at 05:23 pm



None of my mortgage chips during August were large, but together they reduced payment #358 down to $37.85. Hopefully, payment #358 will die this month and I can start whittling away payment #357.

I really like my new strategy of applying chips as they come in, rather than waiting for the next payment. There is no chance of them getting lost in the shuffle. Part of why it works so well is that my checking account and mortgage are both at Wells Fargo; I don't know if it would work so well otherwise. This month the bank's interest number was $.06 lower than my number, the result of mid-month chips. (This is not the entire amount of interest my chips saved, it is only the amount saved during the month of August.)

Lately, I feel so up in the air. I like to have a plan I can work towards, and right now I just don't know where my life is going.

Posted in Mortgage | 5 Comments »

5 Responses to “Mortgage Payment #41”

  1. gattaca Says:
    September 3rd, 2011 at 05:43 pm 1315071798
    1315071798

    I, too, have my banking and mortgage at Wells Fargo. I just applied for a new credit card through them where your points (1%) are applied to your mortgage. And you can pay your mortgage with this credit card.

    https://www.wellsfargo.com/credit_cards/home_rebate/

  2. Petunia 100 Says:
    September 3rd, 2011 at 06:26 pm 1315074395
    1315074395

    Hi Gattaca,

    I have that card. I didn't know I could use it to pay my mortgage! Do you earn 1% back on mortgage payments?

    I did receive a $25 credit to my mortgage promptly once I had earned enough points. I started using Chase Freedom instead because of the bonus points offered.

  3. gattaca Says:
    September 3rd, 2011 at 08:10 pm 1315080633
    1315080633

    I'm still waiting for the card to arrive in the mail. The banker I spoke to at Wells Fargo said that we should get points for paying our mortgage with the CC. She says that she does it.

  4. Petunia 100 Says:
    September 3rd, 2011 at 09:14 pm 1315084479
    1315084479

    Gattaca, I just called the customer service number and the rep I happened to get didn't know, put me on hold, and then came back and explained that I have a home rebate card and I earn points towards my mortgage, blah blah. I said yes, I know that. What I am asking is...can I make my mortgage payments with this card? He said he didn't think so. I think I may try calling again in a day or two and hopefully get a different rep.

    I did log on to my account and see if I could transfer from my Visa to my mortgage. When I choose my Visa as the transfer from account, the only transfer to options I had were checking and savings.

    So, I don't know.

    Please let me know if you are able to use your card to pay your mortgage, because I would love to do it too! Cha-ching!

  5. HousingCounselor Says:
    September 3rd, 2011 at 09:37 pm 1315085853
    1315085853

    Countrywide used to have a similar CC rewards program where you could pay your mortgage and earn up to 2% back I think. I wonder if BOA is doing the same thing since they took over?

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