<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Today I got a Pretty Darn Good letter in the mail
 

Today I got a Pretty Darn Good letter in the mail

May 1st, 2010 at 11:27 pm

Is it possible that today is one of the better days of MY LIFE!??

It's close. It's up there on very good days.

I open my mailbox and see a letter (bill) from my mortgage company. If it wasn't a bill it was a harassing letter badgering me to get mortgage insurance or accident insurance or to make bi weekly payments (I get something from the company nearly every week).

So today I open it and vaguely comprehend the words "Check included from escrow overage" as I am skimming the paperwork. As I started fumbling through the papers looking for the check I thought, "Great! A check! I could really use that right now- it's probably because I homesteaded the place a few months ago and they finally have it straightened out." I was hoping for something over $10.00. If it was $30-40.00 range I was in for a great weekend.

I finally found the check and its for $768.00!!!!! I almost screamed out loud. I was in total shock. Then I started jumping up and down before carefully reading the paperwork to find out how the heck I was getting a check for such a large sum of money.

I bet you just thought the $768.00 check was the best part of the story- right? No its not. It gets BETTER.

So as I was reading to see if this was a real check and not one of those fake checks that you can cash IF you sign up for some insurance/cash advance/money making scheme...I read "Your previous mortgage payment was $980.00 a month, your new monthly payment is $889.00."

MY MORTGAGE PAYMENT IS BEING LOWERED BY $100 A MONTH!!!

WTH!! OMG!! This is AWESOME!

And that, my friends, is why this is one of the better days of my life.

FYI: What will I do with the $768.00 check you ask? I'm going to put it towards my mortgage principal. Boring but it seems like the right thing to do.

11 Responses to “Today I got a Pretty Darn Good letter in the mail ”

  1. elisabeth Says:

    Pretend the letter did not lower your mortgage. Send them the same amount and have it go towards principle. You will not regret it. And you shouldn't feel the difference since its what you are already paying.

  2. frugaltexan75 Says:

    Gamecock,

    That is a great letter. Just a word though, I have read of people getting back escrow overages like that ... then six months later getting another letter saying that it was underfunded. You may just want to put that money aside for a year, and then if no reversal letter, put it towards whatever.

  3. gamecock43 Says:

    WHAT!!? They might take away my money!? After they gave it to me!? That's awful. If they do that I'll be crushed. I have already planned my whole life around this event. If I pay the money towards my principal and make my previous payments (as Elisabeth suggested) then I will be finished in 21 years. I don't want to go back to the way it was.

  4. creditcardfree Says:

    Do you know why you have the overage? Is it because they calculated your escrow payment wrong originally, did your taxes or insurance go down? If you know the reason why you have the overage you have a better chance of knowing if it is correct and if it would likely change in the future.

    They won't ask for the $768 back, but may increase your payment if taxes or insurance increase in the future.

    I'd go with your original plan and revise as necessary!

  5. Broken Arrow Says:

    Well, whatever happens, I'm glad you're having a nice day. Big Grin

  6. Ima saver Says:

    I think that is great!!

  7. rob62521 Says:

    What a nice letter to receive...bet you smile at the mail person the next time you see him or her!

  8. pjmama Says:

    Awesome Smile I cant imagine what THAT feels like... maybe someday! lol.

  9. dmontngrey Says:

    I can't remember exact numbers, but my mortgage went down ~50.00 one year, then back UP ~100.00 the next year due to underfunding in the escrow account. Just watch for that as others have stated.

  10. crazyliblady Says:

    What does it mean to "homestead" a property? What are the benefits? How do you do it?

  11. choconut Says:

    Very good mail indeed! As for the $768, I'd make a $768 payment towards a credit card balance or car loan, etc.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 9.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]