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Wallet Sweep

January 12th, 2012 at 02:42 am

Today I did a wallet sweep and chipped $4.07 from my mortgage. Not much, but something. I chipped a little interest I received, too. I hadn't mentioned it, but I have increased my budgeted monthly payment from $1274 to $1284, so a little more will be gained there.

In Harp 2.0 news, it seems that Wells Fargo will not be ready to roll until March now. Unfortunately, new fees for Fannie and Freddie loans (which are funding the Jan - Feb payroll tax cut) begin in mid February. That will add about 1k to my cost if I decide to do the refi. Frown I suppose I should do the refi even so, as dropping from 5.25 to 4.0 on 180k of debt is significant.

I have to say, I do not relish the idea of starting over AGAIN with a new mortgage. I bought my first home in 1989 and diligently chipped away. That equity eventually went into my second home. I didn't chip much on that one, but that mortgage was much smaller than the one I have now. My ex-husband has a very sweet pension too, so I wasn't particularly worried about making the payments. Now at nearly 45 and divorced, the thought of a brand new 30 year mortgage is a bit icky. So I think, well, I'll do a 20. But then I look at my nest egg and think hmmm, maybe that new lower payment would be better because I can feed my nest egg more. I don't know that I am going to live here forever, anyway.

Well, eleven days into the new year and so far, I have been careful with my spending.

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