Got the “Payment Applied” email today from our mortgage company, we know we’re getting close to paying the note off, so Donna asked me to go online and see what was left. We are now about 10 payments away from owning this baby free and clear.
Citibank, being ever helpful, had a bright blue box in the middle of the loan details page that let me know that I could save over $600 a month if I took advantage of a 4.125% refinancing on a 15 year note. They’d even waive any fees associated with the loan.
Now let’s do some ciphering, $600 times 10 is $6,000 savings. OK that’s nice, but to the get those savings, all I have to do is make 180 monthly payments of $180 or a total of thirty-two thousand four hundred dollars. Uh huh.