For years I've had my monthly mortgage payment automatically deducted from my bank account; that way I don't have to remember to do anything except make sure my balance will cover it. But sometime last spring, I didn't realize that my mortgage rate had been recalculated based on a new real estate tax bill (we have to pay our taxes with our mortgage; it goes into an escrow account) and the new payment amount was actually lower. So I've been inadvertently paying down my principal by $89.32 per month for the last 9 months. Which is a good thing, except that I wouldn't have minded having that $803.88 to spend on something more exciting (you know, like Go-Gurt or snowpants or one of the millions of other amazingly glamorous items I normally shop for).
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January 12, 2006
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You do lead the glamorous life, don't you! Thank goodness for the escrow account; property tax would kill us otherwise!
Posted by: Loren | January 12, 2006 at 02:19 PM
Nothing like that ever happens to me! Our county taxes went down, but the school board made sure to make up for that.
Posted by: Mark | January 12, 2006 at 03:22 PM
I don't think our taxes actually went down; I think it's more accurate to say that the mortgage company overestimated how much the taxes would go up by.
Posted by: Karen | January 12, 2006 at 03:36 PM
Yes, exactly. After huge property value increases, everyone feared for this year's property tax bills so our legislature put a cap on the tax increase. Instead of my property taxes going up by 10%+, they'll go up by "only" 3% so of course all the legislators are taking about the "tax cut" they voted for. Yeah, right.
Posted by: susan | January 12, 2006 at 03:44 PM
Yay, Go-Gurt SnowPants!
Isn't that a show on Nickelodeon?
Posted by: James | January 12, 2006 at 05:53 PM