The Waiting Game is On!

[Pumpkin729]

Hi All,

Finally got a call back from our lawyer about the early pay off. I was concerned about sending in the pay off amount (69.6%) and then being told we still had to continue making payments until we reached 100%. We're old law and at 43/60 payments. Our lawyer said "he spoke to whoever it is that is over our trustee and was told that we can pay off early at the 69.6%" plus any increases to our trustee's % fee, which I did notice there is, he was 4.2% now 6% as of a few months ago. Our lawyer said just cut them a check for the balance and thats it. I asked do we still continue sending in our monthly payments and he said no. So, we went to the bank got a cashier's check and off it went to the trustee. We were never asked where the money came from, I did mention to our lawyer tho that we scrimped & saved it over the years. Now its the waiting game to see what will happened next. Wish us luck that all goes well. I can't wait for this to be over.

[krielly]

good for you! Congratulations.
We're old law 13 as well, but only 1/2 way through, so it will be a bit before we can payoff early - 30 mos down, 30 to go

Once the 36 mos mark is past for old law, we're home free for early payoff. Looking forward to that day!!!!!! Not that we can pay off at 36, but I'll start sending extra to try and get out early.