My home equity loan has gone through. I’m rich! I actually signed the papers last Wednesday, but there was a three-day recission period where you’re allowed to cancel the contract with no ill effects. I had no intention of doing that: I need a roof!
This visit to the bank was a little less stressful. I didn’t really have to answer any questions this time. The thing I am most proud of is that I bumped up my automatic payments from 360-something to 400 per month. I wasn’t sure if the extra would go toward interest or principal. The bank woman said principal. In fact, she quick typed in some dummy numbers on her computer and showed me what would happen if a $2000 loan with $60 payments were upped to $100 payments. It shortened the life of the loan by one third. Outstanding!
I realize that 35 extra dollars per month isn’t going to shorten my loan by a third, but at least it’s something. Look at me being responsible. I’m a responsible thousandaire! Woo hoo!
Wow! I’ve never known a thousandaire before!
I like that John Tesh is on your loan papers. He makes everyone feel more secure.
But why is he contemplating his navel?
Is he rubbing his navel? Is that how you know he’s contemplating his navel?
That guys is totally looking the wrong way. He’s missing that incredible cloud formation right behind him. I think the message is, “only clueless people bank here”. Um, present company excepted.
Will you climb up on your roof to take a “before” picture?
Don’t forget your quarter.
Well now that you’re a rich man,is being able to biddy, biddy bum all day long all it’s cracked up to be?
(yubba dibby, dibby, dibby, dibby, dibby, dibby, dum)
Ha. Does Brad play a fiddle? That’s a definite must for the roof fixin’.
Bravo! When we are able we try to do likewise on car loans and even utility bills (we’re on budget with BGE) and haven’t regretted it yet. Much success on paying that mortgage off sooner, sir!! Then, you get to plan what all to do with your thousands. What fun!
[Just out of curiosity, how are are rates now? I’ve heard rumors of teeny tiny interest rates that sound practically like borrowing money for free – but that can’t be right, though…right?]