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House Proceeds

July 12th, 2012 at 10:13 pm

It shouldn't be unexpected, but it was. We received a check from our previous mortgage company for $41.79. It says it is an escrow refund, but I believe it is actually excess interest. We did not have an escrow account with them, as we paid our own taxes and insurance.

I think the closing agent asked for a payoff date that was a few days out from actual closing, thus the excess interest.

I'm going to add it to our home sale proceeds since technically that is what it is. I'm going to keep that money separate for the time being. I'm keeping my eyes peeled for a good interest rate on a CD! Anyone know of a good one. I'm looking for something over a year, but no more than 3. I don't want to lock it all in to low for too long. Aren't rates suppose to go up at some point?! Wink

3 Responses to “House Proceeds”

  1. ceejay74 Says:

    Ally has some pretty good CD rates, ones where they'll adjust the rate once if it goes up. I just opened a Barclays savings account with 1% interest.

  2. patientsaver Says:

    I think low rates will be with us into next year.

  3. Ima saver Says:

    Melrose credit union is paying 1.75 % for a 3 year c.d. I have a 5 year c.d. with them.

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