So, this isn't a tip, or a trick, just a brag, but I wasn't sure where I should put this.
My mortgage renews at the end of next month, and I talked to the bank today. My mortgage started out at $89,000 3 years ago, and the principal is currently at ~$67,400. It was a 30 year mortgage when it started, but with all the extra payments I've made, it is currently sitting at 10 years 6 months until it is paid off, if I never make another extra payment again! Or, another awesome thing (not that I'll use it unless absolutely necessary) is that I could drop my weekly payment down to $64. Yep. I could effectively make my mortgage payment working one shift a week at a minimum wage job!!!
I phoned the mortgage company this morning to discuss the renewal, since I suspected they would try to rape me on the interest rate, since I'm not going through the broker at the moment. However, I was pleasantly surprised! I currently have 3.09% on the mortgage, and 4% on the HELOC (leveraged investment borrowing). I didn't think they'd do anything about the HELOC, since it is tied to prime, but the dude said they could drop it to 3.5% AND at least match my rate of 3.09% on the mortgage!!!! So, I'm going to save somewhere in the range of $80/month just on the interest on the HELOC.
Hello awesome town!! I'm just waiting for him to get back to me (2 or 3 days) to get the renewal rates approved by his supervisor.
Thanks for reading my brag. If there is a better place to put stuff like this, please let me know for next time; I am a rather new MMMforum poster.