Late last year I refinanced my home and posted some details here about it. Many folks felt that I was just exchanging debt for debt....I won;t debate that issue as circumstances for each individual are different. But, remember, this board is about consumer credit cards and correspondingly about debt reduction.Some posts asked about ongoing details about what I will do with the "freed-up" funds.I'll post at the end of each month, giving details about current debt (for example using my airline miles card for daily expenses and paying it off) and about any additional principle payments to the mortgages or HELOC.One thing I can tell today is that payday is tommorow amd I have over $1000 still left in my checking account! It used to be I would have $100, or less, each and every time before payday. I know I have a @ $1650 mortgage payment but no student loan payment of $160 coming out on the 7th, no @ $300 to Capital One, no @ $250 to Alaska Air, no @ $50 to Bank of the West, no $220 to the time share, etc.I do have documents now showing my time share paid off, and the student loan and other credit card payoff docs should be here soon.My situation was very diferent than other folks out there, but, I still was in "debt" up to my eyeballs. This NY Eve I tosted my wife and said, "you know, in the entire time we have been married (21+ years) this is the first time we essentially have no debt (except mortages) and have cash in the bank ($7900 in an E-fund CD: which I will be transfering to ING 'cus the rates are better). Doesn't it feel great?"Today it feels great. Next month it'll feel better and next year I should be able to purchase another investment property with my increased cash flow. (That's another story.)Hang in there everybody. For so many years I felt like my ship had come in and I was on the wrong dock or it had come in and I wasn't there. Then, after making some hard lifestyle decisions and changing careers (another story) things started happening. Over the last 20 years I have been making various choices, taking positions "financially" - and they finally are paying off.Happy new Year all.cat
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