I logged on to our mortgage account this morning. It's Paid In Full! In fact, I get a little interest back of $15.94. No mortgage debt for the near future seems pretty nice for now. We'll see what I think after living in a rental home for couple months!
I did check with our mortgage company and they said it will be two weeks before they start processing the escrow refund, which takes three days, and then 7-10 days to receive the check in the mail. So easily three weeks from now before we get the check. The full amount I'm expecting is $2054.93. I'm sure I can find something to do with that money!
Mortgage Paid In Full
June 23rd, 2015 at 11:37 am
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I've often wondered if my concept is anywhere near facts, lol
June 23rd, 2015 at 02:13 pm 1435068834
Our rent is higher than our mortgage payment was so there isn't really anything to save each month, but I'm sure there are costs that we won't incur as renters that we would as homeowners. We also had such a low interest rate that our mortgage interest wasn't enough to put us above the standard deduction so we weren't capturing that specifically.
I think I need to invest our home proceeds to really see the value of renting over buying.
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