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Chasing the final payment...

Senior Contributor

Chasing the final payment...

This is just a vent.   Of course, any replies would be appreciated.  I am currently chasing down the final payoff of my mortgage.


I use bankrate's amoritatization calculator to figure out when my mortgage wil be paid off.  I know it's not going to be EXACT but it's been pretty darn accurate to date!


I have an ARM.   Pay is every two weeks.  One payday, all of the direct deposit monies (to the bank that has the mortgage) goes towards the principle payment.  The second payday, the mortgage payment is made and the extra direct deposit money is applied to the mortgage principle.   Then I will do an even out payment so the principle balance is an even number (no loose change).


Then, excitedly, I go to bankrate and use their calculator and see how close I am to the final payment!   


And sadly, every time I go and do the calculations...make sure the principle match the bankrate one todate...and dang it!!!   The final payment keeps advancing by one month!!   Argh!!!!


Just last week, it said the payoff would be in November 20xx.   Today, I made the December payment plus extra principle plus even out payment, and now it says the payoff will be in December 20xx!  Smiley Surprised


I need someone to grab ahold of that dang final payoff date and hold it down for me!!  Any volunteers?

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