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Harp 2 Revisited

April 30th, 2012 at 07:57 pm

Good news! It seems Harp 2 rates have come down a bit. Two months ago, I was offered 4.625% with no points. Today, I can get 4.375% with 1/4 of a point, approximately $450.00. I am moving ahead with the refi, which I am told will take approximately 60 days. This will drop my PITI approximately $150 per month, but reset my mortgage clock.

The month I skip a mortgage payment, I will pay Citi MC in full and just be done with it. That will free up an additional $50 per month.

What will I do with an additional $200 per month? I am thinking Roth and cash savings.

Yay!! Smile

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