Frugal mortgage. . . .

So, according to CNN, 55,000 people have already taken advantage of Obama's home loan modification plan.

Judging by how long it's taking to get my own "no cost" refinance paperwork completed, I'm not surprised. I wrote a few weeks ago about this, and so far I've received one bit of mail from the servicer, which included several errors. Turns out, the paperwork that they wanted from me didn't even apply to my situation.

Originally, my mortgage broker told me that I'd get the paperwork in "seven to ten days". Well three weeks later, I'm being told to wait a couple more weeks at least. Although I don't think my refinance is connected with the government loan modification program, I'm sure the loan servicer is inundated with all sorts of refinance requests at this point. That would explain the delays and the errors in my own case.

I'm getting impatient, since every day that goes by is a day that I'm still paying 6.9% on my mortgage. Luckily, I'm not in any danger of defaulting on my loan or losing my house, so I can afford to wait a bit longer, but that roughly $170 monthly savings is dancing over my head as I go to sleep at night. Feels like Christmas Eve!