Well, the destash got a huge kick in the pants yesterday....But I guess I should start at the beginning....
Last Saturday we happened to be at the credit union and decided to ask about a mortgage refi. We have no other debt but thought we'd be unable to refi because we don't have much equity. Banks require something called Private Mortgage Insurance if you have less than 20% equity. We have a condo, and because of the markets right now, PMI companies aren't doing condos. So we thought we were stuck. BUT someone right here on the DIS informed me that their credit union would does mortgages down to just 10% equity with NO PMI. So, we stopped in and asked. Turns out not only could we refi with no PMI, but we could switch from a 30 year to a 15 year mortgage for about $20 a month...but wait, there's more....The credit union will do this all for FREE. Free appraisal, no closing costs, no paying points up front. SIGN US UP.
So yesterday afternoon they call and want to do the appraisal THIS MORNING. I cleaned like a madwoman- it doesn't really make a difference to the appraisal process- just makes me feel better about someone seeing my house. A car load to Goodwill, 3 bags to Freecycle, a ton of boxes to the recycling place.
I've been wondering, since I'm half way through the year, am I half way through destashing? After last night, I think I can say my answer is YES!