mortgage transfer finally completed

No, it's not a spam post. Mortgage and refi posts usually are. There are no commercial links here.

I'd been meaning to refinance my house for quite awhile. Last November there was Bank Transfer Day, plus the continuous news of OWS (AKA Occupy). Those kept me thinking about all those payments I'd been sending to one of the big banks that was in the news.

My home loan was the last thing still hanging around in a mega-bank. I called my credit union for a free "home loan checkup", and they had good news. I could lower my payments, lower my interest by more than half, and pay off the loan years earlier.

Woohoo! The little credit union finally completed the whole thing last week. Not bad!

Why didn't I do it sooner?

6 responses to “mortgage transfer finally completed

  1. Damn. Getting it paid sooner = absolutely enthralled.Am I correct? 😀

  2. Yes sir!Strange though, the city just did a reevaluation this year to increase property taxes. They value my house at 75% more than the bank did. Wonder why they'd do such a thing? :p I'm contesting it now.

  3. operainchicago

    :up: Pat needs to do the same thing, but can't do it without my pre retirement income and putting my name on the mortgage too. It's complicated and leverage at the same time :yes:

  4. Originally posted by operainchicago:

    It's complicated and leverage at the same time

    I hear ya. Both our names are on the deed here, and I was worried that it would cause problems in the paperwork, but in the end, we both ended signing everything and it went OK. It's not the same situation you're describing, rather it's just one of the issues we had.The interest rate we got is crazy low. The lawyer said that the bank would probably regret these loans one day. It's good to have the regrets on the other end for a change.

  5. Originally posted by slackwrdave:

    I could lower my payments, lower my interest by more than half, and pay off the loan years earlier.Woohoo! The little credit union finally completed the whole thing last week. Not bad!

    Congrats! :up:

  6. Originally posted by slackwrdave:

    It's good to have the regrets on the other end for a change.

    Good news all round :hat:

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