Love the Savings Feburary - 2015 Frugal chatter

[jasperandchar]

I hope the rates will still be good next year for you (or maybe you will luck out and they'll be a little bit lower). We've had to hold onto our crap mortgage rate because of the penalty wouldn't be worth it. We're hoping that they'll waive the penalty when we go and talk to them in April (our mortgage comes up for renewal in Oct 2015).

When I spoke with the guy at Scotiabank this am he said that you can renewal up to 6 months before your renewal without penalty BUT if you are going to add to the mortgage for whatever reason ie. consolidating debt, borrow extra for renos there is an additional evaluation fee where someone comes to your house and appraises it to see how much or if it's worth the bank lending more.

Something to consider for those coming up for renewal soon.

[jasperandchar]

Natalka glad you are on the mend AND coupon girl strep throat is so painful hope the meds kick in quickly

[MrsSunshine]

oh Nat. glad to hear you are feeling better.

so i took some very retro outfits down to a local vintage store. instead of putting them on consignment, the lady bought them all.
I'm $60 richer woohoo.
im going to put it towards treating hubby for Valentines. Pedicure/Manicure/Movie. hope to make a few more $ and include dinner out.
quite happy

[Frugalbigmama]

Good job!!! I'm still thinking of what special "different" thing I'm going to treat my honey to for Feb 14th!

[bobbiegirl2010]

When I spoke with the guy at Scotiabank this am he said that you can renewal up to 6 months before your renewal without penalty BUT if you are going to add to the mortgage for whatever reason ie. consolidating debt, borrow extra for renos there is an additional evaluation fee where someone comes to your house and appraises it to see how much or if it's worth the bank lending more.

Something to consider for those coming up for renewal soon.

Back when we lived in our old house (6 or 7 years ago) we went into Scotiabank when we had 1.5 years left we renewed our mortgage early to consolidate debt and borrow extra $$ for renos (I believe they gave us $40,000). This brought us up to 90% of the current value of our home (an amount that the mortgage lady came up with using current real estate listings in our area). The only fees we had to pay was an increased CMHC premium. We got burned on this deal though (which is probably why they don't do this anymore). In order to not pay a penalty for this we got a higher mortgage interest rate (the crappy one we are still stuck with). We so got burned on this deal because a year later we had to sell and move and were forced to carry our crappy 5.325% interest rate with us on the new house for another 5 years or pay $16,000 penalty. We had no idea the penalties were so high. Back when we had or original mortgage (10 years ago now) there was no such thing as "interest differential penalty". The penalty was only 3 months interest. When we renewed for the higher amount this change in the interest penalties was not explained to us (and I guess we didn't read the fine print carefully enough when we signed everything - you know how they rush you through it to sign - make sure to read it carefully and ask questions before signing!!!!)

I know they've changed the rules now (like you can only borrow back up to 80% not 90%) and I am sure they are more careful about evaluations of house values. I think the bank lady valued our home more than what it really was (or the market dropped) as we barely got back the appraised value and if we had to pay the $16000 we would have walked away with nothing (not even enough for a down payment anywhere else).

We are a lot wiser now and will be careful before we sign anything with the bank as I don't want to get screwed over again. If consolidating won't work in our favour we just won't do it. If I have to pay high penalties or high interest we might just shop out other banks and see what they offer.

[lilo0003]

I just noticed the interest on the line of credit dropped by .15% and as you know I am carrying debt on the LOC for others so every bit helps.
I also decided that I am adding a budget line for stuff I buy knowing I am giving it away. I often pick up groceries or laundry for my brother or GF food for my friends daughter. It’s not to place a limit on it but more to see how much of this I spend & its currently captured in our grocery budget which I am trying to get a handle on.

[MrsSunshine]

rather sad/disappointed. just found out the couple i was going to use for dh's surprise treatment, 'disappeared'.
not sure what to do now.

[jasperandchar]

I just noticed the interest on the line of credit dropped by .15% and as you know I am carrying debt on the LOC for others so every bit helps.
I also decided that I am adding a budget line for stuff I buy knowing I am giving it away. I often pick up groceries or laundry for my brother or GF food for my friends daughter. It’s not to place a limit on it but more to see how much of this I spend & its currently captured in our grocery budget which I am trying to get a handle on.

great way to track your gifting lilo003 and it's always appreciated with open arms

[jasperandchar]

Dh & I don't do anything special anymore for Valentine's day, maybe a lunch out together but not necessarily. I'm the best gift he could get

[Crochetlady]

I#m sure he knows it too.
We don#t do anything either.

My keyboard is wonky again. Nothing comes up what it should be.

[saundyl]

I#m sure he knows it too.
We don#t do anything either.

My keyboard is wonky again. Nothing comes up what it should be.

If it's windows 7 or 8 in the corner to the left of the clock menu there's usually an Image of a keyboard....if you click it you can reset it to the "us standard keyboard. The Canadian multilingual setting gives you french keys as well I if to place of one's like the ? Key

[saundyl]

rather sad/disappointed. just found out the couple i was going to use for dh's surprise treatment, 'disappeared'.
not sure what to do now.

The couple?

[saundyl]

I just noticed the interest on the line of credit dropped by .15% and as you know I am carrying debt on the LOC for others so every bit helps.
I also decided that I am adding a budget line for stuff I buy knowing I am giving it away. I often pick up groceries or laundry for my brother or GF food for my friends daughter. It’s not to place a limit on it but more to see how much of this I spend & its currently captured in our grocery budget which I am trying to get a handle on.

I need to do that as well.most especially with my craft stuff. Christmas I picked up groceries for mom's house while we were there and I didn't even attribute it anywhere. I totally dropped the budgeting tracking ball for 12 days.

I do add in lines for birthday gifts or mother's day. .I have a whole separate savings for Christmas.

[Crochetlady]

If it's windows 7 or 8 in the corner to the left of the clock menu there's usually an Image of a keyboard....if you click it you can reset it to the "us standard keyboard. The Canadian multilingual setting gives you french keys as well I if to place of one's like the ? Key

I have vista basic

[MrsSunshine]

yes, it was a couple they came and they did the mani/pedi's together. very well loved by my family member.

no worries im def. my hubbie's valentine gift.
wanted something extra special as this year marks a special anniversary.

i'll think of something.