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This next chapter

June 14th, 2022 at 05:35 pm

Well, it's done! We choose to refi, with debt consolidation. We closed on Friday, and funds will be dispersed tomorrow. The process was super easy, all electronic and virtual... until the disbursement. LOL. They are sending me checks, made out to each debt. That I will then endorse, and SEND VIA SNAIL MAIL to each company. I can't even with that. 

Due to timing, we should expect a little bit back from each account, as we have made payments, and not incurred new debt. Anything left over, including a little cash at closing will be snowballed right back into the new mortgage.

I'll be back soon to document the pay off process and our next steps!

Posted in Uncategorized | 3 Comments »

3 Responses to “This next chapter”

  1. rob62521 Says:
    June 14th, 2022 at 06:37 pm 1655231859
    1655231859

    Glad this worked out for you. I don't want to sound preachy, but hope you can keep from getting into further debt now that you've paid this former debt down. I had a friend who used to run up his credit carts, then get a consolidation loan, pay off the maxed out credit cards, and as soon as the cards were paid down, would start the cycle all over again, never getting things paid off.

  2. LivingAlmostLarge Says:
    June 15th, 2022 at 08:02 pm 1655323320
    1655323320

    Good luck!

  3. Honey Says:
    June 16th, 2022 at 03:33 am 1655350426
    1655350426

    Rob - Thank you, and you don't sound preachy! We would not have gone through with this if we didn't believe, 100%, that we are done with debt. We are going to close all but 2 cards (we are keeping our Citi/Costco cards open); I know our credit score will take a bit of a hit for a few months, but there are no big purchases on the table for at least 24 months (the soonest we'll likely refi to a 15 year).

    Jokeabee - Thank you! Didn't even think of this. I can certainly do this with our BofA cards... as well as one of our small loans. Oh, we have a Best Buy, as well. Big Grin

    LivingAlmostLarge - thank you!! Big Grin Big Grin
    Where we need the most luck is sticking to our grocery and Costco budgets! LOL... That's for another post, another day!

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