Self-Directing

This month has been a flurry of transactions, coupled with many headaches and frustrations.  I opened my online banking to discover the deposit (tranfer) was available this morning; so I put it to use immediately.  With so much happening I have decided to just compare my last update, to where we stand today.  Otherwise I would create a post that was a mile long.

First lets glance at where we were with the last update:

• Mortgage #2:
• Loan Balance: $54,461.00 (-$877.54)
• Payments Left: 51 (-1)
• Daily interest on this note is $9.46, monthly $283.65 and annually $3,451.08.
• Equity Line:
• Loan Balance: $12,574.23 (-$3,318.68)
• Daily Interest $1.54 a day, $46.20 a month and $562.10 a year

After receiving money from online surveys, communities, book sales and making the self-directed refinance we are at:

• Mortgage #2:
• Loan Balance: $20,000.00 (-$34461.00)
• Payments Left: 51 (-1) doesn't matter at this point
• Daily interest on this note is $3.47 (-$5.99), monthly $104.01 (-$179.55) and annually $1,266.55 (-$2,184.53).
• Equity Line:
• Loan Balance: $43,898.29 ($31,324.06)
• Daily Interest $5.81 a day, $174.30 a month and $2,120.65 a year

Our interest has declined:

• Daily $1.72
• Monthly $51.60
• Annually $627.80

Without the final refinance decrease in interest, we are at $30,265.80 a year.  Only $265.80 to thirty thousand.  Yay!

There is more shuffling of debt to come, so hold on.

One more item, a bit off the focus.  I requested my banker look into the final refinance of Mortgage #2 nearly 2 months ago.  Granted this was not a priority since it would not be up until later this year.  Yet, I am steamed that something did not develop in the interim.  In the almost 20 years I have banked with this bank, I have never been so disappointed by their services as I am at this moment.  They have historically been my financial partner.  I have great satisfaction in knowing I will not be paying refinance fees and they will be earning less money off of us in the future.