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Around and Around....

October 9th, 2007 at 12:23 pm

I received a check in the mail today from my mortgage company for a refund on PMI insurance. I've been meaning to check on that for at least a year or so. Nice that they did it for me. I was clearly dragging my feet on something that would save me a few dollars a month. Sheesh.

In addition, they redid my escrow. Since that had already been done this summer, I figured that they wouldn't redo it again until next year. I didn't know what kind of hassle it would be to see if they could reopen the file until then. But they saw that the escrow had a big surplus. This was because I had to pay the windstorm out of pocket this year and the insurance they pay went WAY down. By almost half. So, they are sending me another check to cover the surplus. In another life, I would have spent it on things and bills and such, but I've been learning a lot of lessons. Lesson: Next year I will write a check for at least $1000 for windstorm out of my pocket. So, the surplus check will reside in an interest-bearing account until then. Because I'll just have to use it to pay out to the state insurance. But at least it will be done for next year. Now, I need to include it in the monthly budget so I will have it for the following year. Things keep achanging....

Finally, I see on the readout that my mortgage payment is going down for those reasons. I can probably use that money to build the insurance fund. I wish I could use the money for paying down the mortgage more quickly. But I need to get the numbers all sorted out. In any case, the mortgage is closer to the beginning amounts for when we bought the house. Funny, the mortgage was sold the first month. That was weird, but then we still have the original terms. Then, the insurance went way up. We may have only had one payment at the original setup number. I wish they would mention that fact when you buy a house. I had no idea that things could change before you even got started. We've had a good mortgage relationship though. I can't wait to see the numbers all set up in the new budget. With the insurance costs though, I think we'll just be going around in circles.....

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