How long to keep mortgage statements

[disneysteve]

In my never-ending battle to keep organized, I've been going through my file drawers and trying to thin out the paper that accumulates. Here is today's question.

How long do I need to save the monthly statements from my current mortgage company?

Also, if we previously refinanced, other than keeping the documentation of the payoff, do I need any of those monthly statements? I'm guessing no on that one.

[txex86]

We keep the current year's mortgage statements until the last one we receive in December. This statement includes the cumulative total of all interest/principal payments made throughout the calendar year as well as the remaining principal left as of the end of that year. After we receive the year end statement, we shred the others.

As for the refi, I agree that you should only keep the payoff info.

Hope this helps.

[pearlieq]

I keep the current year plus the calendar year prior.

In all honestly we probably don't even need that much. I can't think of a reason why I'd suddenly need my March '06 mortgage right away, but it makes me feel better to keep it anyway.

[disneysteve]

We keep the current year's mortgage statements until the last one we receive in December.

As for the refi, I agree that you should only keep the payoff info.

I keep the current year plus the calendar year prior.

In all honestly we probably don't even need that much.

Time to fire up the shredder.

[boefixepa]

uuggghh....I hate paper! It annoys me to keep it. I do and can see everything on line, so I don't even open mine, I shred it still in it's envelope....I wish there was some way to get them to stop sending it to me. Same things with any CC statements, bank statements etc....

I do it all on line people!! I don't want the paper! If I need it I can see it on line and print it if I want a copy.

[JanH]

uuggghh....I hate paper! It annoys me to keep it. I do and can see everything on line, so I don't even open mine, I shred it still in it's envelope....I wish there was some way to get them to stop sending it to me. Same things with any CC statements, bank statements etc....

I do it all on line people!! I don't want the paper! If I need it I can see it on line and print it if I want a copy.

A lot of my bills have inserts or notations that ask me if I want to go paperless. Some have even offered me money or a percent off if I would do it. You might could check with your companies and see if you have that option.

[jamai]

check with your bank, they might be able to print copies of old statements. if they do, you wouldn't need to keep them for very long.

[boefixepa]

Thanks JanH, and I have, but I still have a few that say they 'have to' which I don't buy. But I guess it's worth a call to see if they still feel that way.

[LivingAlmostLarge]

Scan it in, and dump the paper. Then backup all my bills once a month. E-filing for everything.