Well, that's definitely a nice little bonus! Happy that your forgetfulness turned into bounty!
Definitely! How often does that kind of luck happen?!
Even if it does not return to our hot lil' hands, it will benefit our paying off the house!
and yet another benefit of Clarion... ;)
It truly was an amazing event. ;-)
I shudder to think how long it might have gone on if I hadn't noticed!
That's what you call a happy accident.
Wow, it's like finding 20 bucks in your pocket, only a helluva lot more!! Nice work!
And so lucky, because Ferrett wouldn't have realized, not knowing the ins and outs of escrow.
Sure enough, they had us double-insured, with over $800 a year going to the supposedly canceled insurance via our escrow and $278 going to our current insurance via monthly payments from us.
This is making my brain hurt...the old insurance company didn't send you a bill stating that the policy would be paid by the escrow holder?
(making my brain hurt because I was having difficulty following the mish-mash of insurance companies and payments, not making my brain hurt because of what you did...had to clarify)
I'm just glad I noticed before we were, oh, three or four years down the road with it!
I'm glad you sorted that out!
I'm glad it happened the way it did, otherwise Ferrett would have had no way of knowing and who knows how long that would have continued!
Not paying your bills CAN be a good thing =)
Not probably the best lesson to take from this misadventure, however! ;-)
Apparently, a safety mechanism in bookkeeping to prevent embezzling is to require white collar financial workers to use their vacation time. Other people get cross trained, but also, processes can get streamlined with new people working on stuff, and if someone is gradually sifting off cash, it could be noticed while the sifter is on vacation. Also, as you found out, "new eyes" find all sorts of things :) So congrats, your household is following standard accounting practices!
That's an amusing way of looking at it!
Looks like a good reminder to me that no matter who is paying the bills, it's a good idea to go over things with the other party on a semi-regular basis. Good point on the standard accounting practice bit too.
Honestly, if it hadn't been for that little automaton voice enumerating the payments, I'm not sure I would have caught it just looking at the paperwork. It wasn't clear at all.
Nice! (If it were me I'd leave the $1600 in the mortgage, get it paid off faster).
Reminds me that I should actually *look at* bills once in a while (I pay my bills by direct debit or standing order, I am a Bear Of No Brain and would be late all the time with them if I didn't - so they come through the door and go directly in the filing box).
That would be my choice, if they give me a choice, too. And yeah, it is a good idea!
If there are no pressing expenses coming up, put the money to the principal? Depending on where you are in your mortgage, it could pay you off upwards of 18 months sooner. (if my math is right.)
That is what I plan on doing, thanks.
We have paper bills. It just wasn't clear from the bill. It was the automated system - and my understanding of how it was supposed to work - that helped me catch it.