Hello all. I am still working on the site and learning as I go.
I am in the process of refinancing my mortgage since rates are so insanely low right now and I received an unexpected surprise. When I close on my refinance later this month all of my closing costs are being financed and I will not have a mortgage payment for February.
I still have the funds in my account. So this month I will be able to pay a huge amount of my debt down. If anyone is looking at refinancing your mortgage take advantage of this perk to pay off any other higher cost debt you might have. If you want to check rates go to bankrate.com and use their mortgage calculator to see if you could save money by refinancing.
I know this is only my second post, however I believe the number one way to a better life is to live either debt free or control and use your debt to your advantage via credit card arbitrage or getting debt extremely cheap. The current rate on a 30 year mortgage right now is 5%. Your real cost of borrowing if you are at a 25% tax rate is 3.75%.
