I'm a couple days late in posting this, but I did want to let you all know that my wife and I closed on our refinance with ING Direct last Thursday. They haven't paid off the old loan yet, and there's nothing about the new loan up in our account at ING Direct, but the whole shebang's a done deal.
What this means now is that it will be easier than ever for us to pay extra against this loan, since most of the money for doing that will come from our checking account at ING -- no more mucking about with and waiting for electronic payments to go from one company to the next. It also means that we have that much extra every month (if you ignore escrow, about $200) that we don't need to have to make our regular mortgage payments. It's like having an extra rainy day account of a sort -- the less we need to be able to pay every month, the longer before we get into real financial trouble if the unforeseen happens (which, by its very definition, we can't know about until it's happened).
Speaking of the unforeseen, we should find out this week if our jobs are secure for next year, of if the proverbial apple cart will be upset. That will have a huge bearing on whether our extra monies go toward our rainy day account, our mortgage, or our student loans. We'll keep you posted on that.
In the meantime, if you haven't checked out the excerpt of my novel in the Amazon Breakthrough Novel Award contest, I invite you to go here to check it out. A little light reading to pass the time until our debt numbers at the right start dropping once more....
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