Surviving the heatwave with Diabetes

Dear Bloggers,

When temperatures start to get out of control, so can you’re blood sugar can get out of control.. Both hot and cold weather extremes can harm your testing equipment and your medications and have a negative impact on your body’s ability to produce and use insulin.

Research shows that when it’s hot out, more people with diabetes end up in the ER and are hospitalized because of heat illness. The number of deaths in diabetes patients due to heat illness also increases in summer. Low temperatures can be an issue for people with diabetes as well.

But you don’t have to let the environment have the upper hand. Taking a few smart precautions can help you outsmart Mother Nature. Here are the adjustments to make depending on where you live and the weather forecast.

 

Managing the Summer Heat

Take these steps to keep your diabetes under control when the temperature soars:

Stay hydrated. “The problem is that in the heat, people tend to get dehydrated easily. When you’re dehydrated, you have higher concentrations of blood sugar because less blood flows through your kidneys. With less blood, your kidneys don’t work as efficiently to clear out any excess glucose (blood sugar) from your urine.” When it’s hot, be sure to drink plenty of water or sugar free beverages. Don’t wait until you are thirsty to replenish fluids.

Store your medications properly. High summer temps can affect your diabetes medications, glucose meter, and diabetes test strips. “When it’s hot out, it’s easy for insulin and other drugs to become degraded,” Be sure to store your medications properly out of the extreme heat. Never leave them in your car on a sweltering summer day, for instance. “It could get up to 50 degrees inside your car."

If you’re traveling, don’t forget to take your diabetes medicines with you. You may need to carry them in a cooler with an ice pack. Just be sure they’re not sitting directly on ice or the ice pack.

Stay out of the heat of the day. Exercise is an important part of diabetes management and blood sugar control. But you don’t want to be outside exercising during the hottest part of the day. “Get in your exercise first thing in the morning or once the sun goes down,”. Another option is to work out in an air-conditioned gym.

Know the signs of low blood sugar. Some of the symptoms of heat exhaustion are similar to those of low blood sugar, or hypoglycemia. These include sweating, light-headedness, shakiness, and confusion. “You may think it’s the heat and not recognize that your blood sugar levels have fallen to dangerous lows,” Be aware of the warning signs of low blood sugar and keep some carbohydrates with you to eat if you need to raise your blood sugar. Have a plan for a medical emergency.

 

Test more often. You may need to test your blood sugar levels more frequently so that you can adjust your insulin and your diet as necessary. Talk with your diabetes educator about guidelines if you're unsure of the best schedule.

Mind your feet. People with type 1 diabetes and type 2 diabetes are susceptible to problems with their feet. In the summer you face the temptation to go barefoot or wear open sandals that expose your toes … to trouble. Always wear shoes that fit well, even in warmer months. And at the end of the day, check your feet for any cuts, scrapes, blisters, or bruises. Don’t ignore injuries to your feet. Get medical treatment right away.

Surviving the Winter

Freezing temps and inclement weather can make it more challenging to stay on top of your diabetes. Here’s what to watch for during the colder months:

Keep your supplies out of the cold. Just like extreme heat, extreme cold can affect your insulin and cause your glucose monitor to stop working. Don’t leave supplies in a car when temperatures outside are below freezing.

Do your best to avoid getting sick. When you’re sick, you’re stressed, and being under stress can raise your blood sugar. Also, when you don’t feel good, you’re likely to not eat properly. Wash your hands with soap and water often so that you don’t spread germs. “We recommend diabetes patients have a sick-day kit at home. Fill it with soup, sugar-free cough drops, tea things that will make you feel better and that you can access easily,”

Avoid packing on the pounds. Managing your  type 2 diabetes during the holiday season can be tricky. Many seasonal treats are loaded with carbohydrates that cause your blood sugar to rise. Plan your meals and pace your special treats so that you don’t greet spring a few pounds heavier. Even a small weight gain makes it more difficult to control your diabetes and blood sugar levels.

Keep an eye on your feet. Diabetes can cause a loss of feeling in your toes and feet. Protect them with the right winter footwear, especially in snow. Apply moisturizer to your feet to keep your skin healthy. Inspect them regularly, and if you notice an injury that doesn’t heal, seek medical attention. Don’t wait. Also important warm your hands. “If your hands are cold, you may have to warm them up to get a good blood sugar reading,” Wash them in warm water before testing.

Don’t skip your workouts. It can be hard to get motivated to exercise in winter. But exercise is an important part of diabetes blood sugar control. It helps if you dress in layers when you’re exercising outdoors in the cold. Or join a gym where you can work out indoors. Another option: Work in exercise at home by taking the stairs, lifting weights, and exercising to videos.

At this moment I have to deal with the summer heat and my type 2 diabetes

When the hottest days of summer hit, people with type 2 diabetes need to pay close attention to their condition. Here's how to savor the season without health worries.

Summer conjures up images of backyard barbecues, pools and beaches, street festivals, stargazing, and more. But summer heat can add to the problems faced by people living with type 2 diabetes. In fact, studies have shown that during a heat wave, emergency room use by people with diabetes increases. And while most people with diabetes are aware that extreme heat poses a danger, they may not always know when to take precautions..

If you have diabetes, the high heat and humidity of summer can be difficult for your body to manage. The problem with hot weather is the combination of temperature and humidity.

Elderly people are at particular risk, but people of all ages with diabetes should be aware of summertime dangers. These include dehydration, heat exhaustion, and foot problems.

Dehydration is your enemy

Everyone, regardless of their health status, should make sure they drink enough fluids during the summer. People with type 2 diabetes, however, face an additional challenge because when their blood sugar levels are too high, they may be passing more urine than usual which means they are losing fluids more quickly. Add sweating into the mix and you have a recipe for speedy fluid loss. Certain medications, such as metformin (Glucophage), also increase the risk of dehydration.

If you are out and about on a hot summer day, make sure you have enough of these beverages on hand to stay hydrated:

• Water or seltzer
• Sugar-free lemonade or other drinks

Also, avoid alcoholic drinks and caffeine. Alcohol and caffeinated drinks are usually okay in moderation but too much of either one can cause you to lose more fluids. And remember to bring along snacks in case your blood sugar drops.

Diabetes and Heat Exhaustion If you’re going to be outside, be alert to these symptoms of heat exhaustion:

• Dizziness
• Fainting or near-fainting
• Sweating to excess
• Muscle cramping
• Cold, clammy skin
• Headaches
• Rapid heartbeat

Check blood glucose levels often. Aim for checking four times each day and before you drive.

With the proper precautions, people with type 2 diabetes can get through the summer and enjoy summer activities with no worries.

The Old Sailor,

Oh no, my computer crashed again.

Dear Bloggers,

If you ever had a total computer system crash, count yourself lucky, because all the gurus say it's not "IF" your computer is going to crash, but "WHEN." Having had three crashes myself over the years, I can confirm that statement. How well you prepare for this inevitability will determine how stressful and costly the crash experience will be.

When my computer’s operating system was fried last week (and not even during the night of Friday the 13th), I braced myself for the stress that was to follow. My computer a laptop was only about three years old and was probably killed accidentally during one of Microsoft's automatic downloads in the middle of the night. The reason given on the "black screen of death" I got the next morning was that perhaps I had temporarily lost my cable Internet connection or the power had failed momentarily during installation of an update or during the reboot. (For that reason, I have now instructed Microsoft to download updates to my computer in the middle of the night, but give me the option of installing them when I choose.)

Not wanting to put any money into a three-year old computer I'd bought refurbished to begin with, I trekked over to Thrift shop the following Tuesday to see what my options were. I was VERY happy to learn that I wasn’t going to be stuck with Vista’s operating system, and that I could buy a LG computer with a free “downgrade” to Windows XP Pro; further that Microsoft would continue to supply critical updates for years to come. (In fact, I was told they are still issuing critical updates for Win 3.1.)

Coming back from a computer crash is going to be stressful, no matter how you carve it. But if you have prepared for a crash by taking steps to insure that you have everything you need to get back up and running as quickly as possible, your stress will be manageable. Then, your primary concern will be the time it's going to take you to shop for a new computer (if necessary) or reformat the drive and begin all over again to reinstall the software programs you normally use, plus all the time it will take to download the latest updates to the operating system, browsers, software, etc. If you use Outlook as your email server, you will need a current .PST backup file containing all your email messages and contacts (see below).

Backing up and Restoring Files

Getting all your documents and files back on the computer again can be easy or difficult, depending on what backup system you use and whether you back up files regularly. The thing that gave me the most comfort when my computer crashed was knowing that all my documents, website files, pictures, music, and programs I had downloaded from the Web but did not have CD-ROMs for were waiting for me on a remote site.

Outlook is the only fly in the ointment (see below). Knowing how to back up Outlook and actually doing it on a regular basis are two different things. It's easy to "forget" to back up Outlook, even when you've got the automatic backup program in place. I get busy and think I'll do it tomorrow, and before I know it, it has been a week or more since my last backup. I was lucky the last time my computer crashed in that I lost only four days' email messages and whatever changes I had made to my Contacts folder in that period. I’m now being very good at backing up Outlook every other day at least, and especially when I’ve got unanswered email messages in the Inbox at the close of day.

Tips for Getting Everything Back Up Again

Before your computer crashes, do these things:

1. MAKE A LIST of all the software programs you have on your computer, which ones you have CDs for, and which ones will have to be downloaded again. And keep all your computer program disks together in a safe place, such as a fireproof file drawer in your office, or in your safe deposit box. (I've been amazed to learn how few computer users actually do this.) If you buy a program that you download and then install from your computer, make SURE you put that .exe file either in a folder that is backed up to a remote location, or on a CD disk to be stored with your other program disks.

Free programs such as Adobe Reader, File Zilla, etc. can always be downloaded from the Web, but you may need a reminder list to remember all that you want to restore. For example, the last time my computer crashed, I had forgotten that I had to download Microsoft’s "backup tool" in order to get the backup option on the FILE button so I could make regular backups of the .PST file. Now that file is in my downloads folder, which is always backed up by Carbonite. (This Web page has the download link to Microsoft's backup tool, along with instructions on how to do regular backups.)

2. Even if you have a current .PST (personal folders file) for your Outlook email and contacts list, you will have to manually set up all your email addresses again. This will be easy to do if you go into the settings for each email address you have now, and then copy that information into a document you can print and save. (Be sure to protect your email passwords; you don’t want them in a document on your computer.) If you regularly archive sent messages, you’ll need to figure out how to save this file and restore it too, as it's not included in the .PST file.

3. Always have a print copy of all your passwords and contact information for everything related to those passwords. If you keep this information only on the computer and you lose access to your hard drive, you’ll really be up the creek without a paddle.

4. Id ther eare some document files you absolutely must have to keep your business going in the event of a major computer crash, put those files on a CD that can be used on another computer. For example, I'm an Amazon Marketplace seller, and I normally include customized cover letters with outgoing orders. When my computer crashed, I could temporarily access my Amazon orders from a computer at the library, but I couldn't include my usual package inserts because I didn't have a CD backup of those important file folders I could use on my laptop.

Know Who to Call When You Need Help

The thought of having to haul the computer to a shop, wait for maybe days to get it back, and then pay big bucks for the repair had me thinking I should just buy a new computer and be done with it, even though my HP Compaq is only three years old. Thankfully, the friend I called for help had recently met a computer guru in my area, and when I called him, he said not to worry; whatever the problem was, he could fix it, and I certainly wouldn't need to buy a new computer.

It took three hours for him to find all the bad stuff (much of which he said was just "Microsoft crap") on my computer. Using several free and very powerful shareware programs, he cleaned my Registry several times as he removed this or that file, ultimately finding 956 Registry errors. After uninstalling my CA Internet Security program and all the files it had left in the Registry (they did reverse my credit card charge without question), he installed a powerful free anti-virus program he said he had used for years with no problems. After doing virus and malware scans and a defrag, my computer was "blazing hot" and my Internet speed had doubled. My printer was also printing pages so fast and with such power that they were almost flying off the rack.

Finally, my new computer friend, installed his powerful computer tools on my computer so now I can easily and very quickly use them to do weekly virus and malware scans of my hard drive and keep the Registry clean. He also installed a defrag program (better than Windows') that runs in the background all the time. He turned on my Windows' firewall program, but agreed that I should download Zone Alarm's more powerful (and free) firewall program for maximum security.

I urge you to look in your own community for the kind of help Al is now giving me and have him "on call" so you'll know where to get fast help when you need it. If you happen to live in the Naperville, Illinois area, visit Al's website. For me, finding him was like getting manna from heaven. I highly recommend his services.

In Summary

If you’ve never had a computer crash before, don’t assume that it can’t happen to you. If my experience is any indication, a computer crash is going to come when you least expect it, and preparing yourself for that inevitability will make all the difference in how stressful and costly the experience will be.

The Old Sailor, 

A "new" car

Dear Bloggers,

It happened two weeks ago that my wife called me and told me that she had an accident with our Volvo V40 which we drove for nearly 13 years and had more than half a million kilometres on the clock. At the traffic lights in Groningen another car reversed full power into the front of our car. 

 Our Volvo V40 has gone to carheaven

 It was declared by the insurrance company as a total loss. Bummer now we needed all of a sudden another car and we are not that rich at the moment. So we are using our holiday payment and tax money to find something else. And yes we succeeded. We bought a Volvo V70 from the year 2002. The insurance money is peanuts so that doesn’t help much. I have been on the net for many hours to find us something suitable.

On the net

If we all had our way, every car we ever buy would be brand new; shiny, unmarked, and full of the new car smell. However, the reality is that we're often restricted financially, or circumstances may present us with a second hand car as our most convenient option. There are pros to both options, so it's worth considering your choices before you make that big purchase.

The Dream for us the Volvo XC70

Obviously there are some clear upsides to buying a brand new car. A vehicle which has never been driven will offer better, fresher performance, and likely it will be more reliable too. Having a car fresh from the dealer means you know it's had the full gamut of checks and inspections, and you can rest assured you are now driving a smooth-running car. You should also be given a warranty to give you for the first few years and with a new car you will pay less in running costs.

There are a lot of cars for sale

This isn't to say that a second-hand car is not as good as a new one. In many cases a well-cared-for vehicle offers much the same quality, ability and style as it did when it was first driven out of the dealership. And second hand cars don’t mean you can’t get a warranty.  Many approved-used deals will offer a 3 month warranty even if the car is a few years old. 

The Volvo V70 model 2014

So why buy new? There certainly are things to consider when opting for an unused car. A brand new vehicle is more expensive of course. And, despite paying out for a fresh new model, it will depreciate greatly in the first 12 months, and as much as 35% in the first three years, which means you can lose more than a third of what you paid for it.

Yeah. Right,.......

Of course, some financial benefits, such as interest-free finance, only come with a straight-out-of-the-dealership option. This might be a more preferable and beneficial arrangement for you, in which case buying new is the way to go. And after all, with a used car you never really know its history so there are always thorough checks which need to be made before you can confidently drive it away.

Our new Volvo, a real family car

At the end of the day, it is worth asking yourself what you need, and want, in a car. If you really do want to buy one which is brand new, consider the reasons for this. Obviously there's nothing quite like choosing your ideal vehicle and being the first person to own it, but it can be a smart move to look at some second-hand options as well.

the half million was just reached a few months ago

Even if you do decide that a shiny new vehicle is the best choice for you, at least you'll be able to relish the peace of mind that you did some prior research. At the end of the day, a car is a major purchase, and it never hurts to check out all the options.

LPG installation

Now we have to save some money to buy a LPG installation and get it build in. That will save us many euros and we can drive many happy kilometres. We still keep hoping that we will win something in the lottery so we can live a bit easier.

Make many save kilometres with your “new” Volvo and drive towards the horizon.

The Old Sailor,

Spring is in the air

Dear Bloggers,

If your weather is anything like mine, it certainly doesn't feel like spring is in the air. But that's okay! The rain is pooring down and lightning strikes in the area. We had some nice spring days already with temperatures above 20 degrees Celcius. So I am sure to warm things up for you!

Spring has always been traditionally linked with romance, and for a good reason. Flowers bloom as the ground thaws out, and as the temperatures rise, we're ready to go out and do something. Falling in love is always a popular item on the list. Even if you're already coupled up, spring is a wonderful time to discover new experiences with your partner! Nature is beautiful when the sun is out, even in the city

After mowing the garden this week, I sat down made myself a nice cup of coffee and picked a novelle from the bookshelf. Sitting there hearing the birds sing and enjoying the sunshine. If you are dreaming away sitting in your backyard with a romantic novelle, picturing the following phrases you get weak inside and find yourself in this story:

 
He collapsed on top of her, his face landing in the cushion of her silken hair. Breathing heavily, he inhaled the aroma of moss, honeysuckle, and something else that was simply, undeniably her. He slid to the side, keeping his arms wrapped tightly around her. Laura turned to face him, and her tangible movements in the aftermath of their activities brought him more joy than he ever thought possible.

Even as exhaustion descended upon him like a soothing rain, she captured his undivided attention. “I love you,” he said.
 

All of sudden you are woken up by one of the kids that just came home after school. Somehow you cannot ban this picture out of your head and you are still fully aroused when your spouse is coming home. Yes my friends I will tell you that spring fever is real. Sure, we think of it as a time for young people to fall in love during a spring break. But we don’t realize there’s a whole lot of biological action taking place to motivate people to get it on when the sun comes out. Part of it is about the sun and increased levels of vitamin D and how that raises testosterone levels in our bodies. The rest is about exploring the world which gets people primed and ready for sex. Let’s look at some scientific facts behind spring fever so you’ll be ready … no matter how crazy it gets … when you hit the beach!

Sunshine raises vitamin D levels. Vitamin D is actually a hormone that is generated when sunlight hits your skin. During winter, your vitamin D levels drop by 50% unless you take supplements. When you get out and hit the beach at the onset of spring, your vitamin D levels jump back up, especially if you’re in the semi-tropics like Cancun, Mexico, Hawaii, or Thailand.
Vitamin D is Associated with Testosterone. When vitamin D goes up, so does your level of testosterone. This happens because vitamin D increases the production of testosterone in men’s and women’s sex organs. 

And that is what makes Spring fever come alive.
Testosterone is Necessary for Sexual Arousal in both Women and Men. It’s an urban myth that testosterone is strictly a male hormone. Women are dependent, too, on sufficient levels of testosterone in order to become physically aroused about sex. There is, in fact, a testosterone patch for women who just can’t get physically aroused about sex. Emotional arousal, of course, is different and related to another set of hormones and neurotransmitters.

Exploring the World increases emotional desire for sex. When individuals get out and explore the world like people do when spring fever hits, the willingness to engage in sex increases. That’s because exploring new things increase the neurotransmitters tied to the mental-emotional part of being hot to get it on. That mental-emotional part of sexual desire generally involves a debate about whether the time and place is right for sex. Exploring the world works to tune that out.

What this all amounts to is that spring fever is a biological Yes!Yes! reaction to hitting the beach: Yes your body is getting aroused for sex. And Yes your head says, “Why not?” to sexual encounters.
It doesn’t matter who you are or what your relationship status is. Do yourself a favor. Take a spring break and hit the beach. Bring your lover or spouse, go with a friend, or jump on a plane and just arrive. Don’t ask me why, but just go and do it! It’s great for your health both emotionally and physically. And for your love life. 

Let the sunshine give it a tune up!

The Old Sailor,

You might lose thousands when refinancing your mortgage

Dear Bloggers,

When you and your spouce get into the adventure of buying property you need to borrow some money if you are a regular Joe like me and no I did not marry a rich chick like Paris Hilton. So you end up at a bank (too expensive and complicated as I didn’t have a regular job.) I am not a financial wizard and yes I must admit my wife understands these things better than I do.

We had just borrowed about two hundred thousand Euros and my question was pretty simple: "How do we pay you back?"

The woman on the other end of the phone, however, couldn't tell me. Ten days had passed since we signed the papers to refinance our home and, with the summer holidays approaching, I was worried our first payment would be late. She tried to soothe me with perhaps the most misunderstood phrase of the refinancing process: "Don't worry. You get to skip a payment."

Had I listened to her, it would have cost us thousands of euros. And if you are one of the millions of homeowners who will refinance in 2013, it could cost you, too. 

If your resolution is to save money or get control of the family budget, refinancing remains a really good option. But the idea that “skipping” the first payment can be pain free, financially speaking, is a myth, repeated over and over by loan officers like mine. Sometimes they are lying, sometimes they are misinformed and sometimes they are just trying to get an annoying borrower like me off the phone. But with rare exception, they are giving bad advice. (News flash: Whenever a bank seems to be doing you a favor, it probably has a hand in your wallet.)

Real estate transactions are already confusing enough. There are questions surrounding when you make your last payment on the old loan, when you make your first payment on the new loan, how many extra days of interest you pay toward both your old and your new loan, and when you are paying for both loans. We'll get to those tricky issues in a moment, but the priciest mistake you might make in a refinance is also the simplest one to correct. 

You've heard this before, but this time, it's probably true: mortgage interest rates are at historic lows, and there may never be a better time to refinance.  It's hard to imagine rates going any lower than the 3 percent range they are at now, but it's easy to imagine that, at the first signs of a real economic recovery or real inflation, they will climb sharply during 2013.  The low interest rates that the Nedrlandse Bank has imposed to boost the economy have been punishing for many, notably savers, who can barely earn 1 percent interest on their bank accounts and certificates of deposit. The one perk for consumers from the bank’s interest rate policy is the ability to get cheap home and auto loans. If you haven't refinanced your mortgage in the past 24 months or so, you are missing out.

Fortunately, many Dutch homeowners have gotten the message. According to the Mortgage Bankers Association, mortgage holders engaged in €603 billion worth of refinancing in 2012. In fact, more than four out of five new mortgages in 2012 were refinanced loans, not home purchases.
I wish there was a way to know how many of those borrowers chose to skip that first payment.

'Can I get that in writing?' 'No'

My loan officer was lazy, I believe, and -- knowing that my loan had closed and all the commissions were guaranteed -- just wanted her off the phone as soon as possible. My wife’s  call was unusual.  She is always overly cautious when she sets up any kind of new loan payment, as the chances for error are great: a wrong loan number on a payment, a bad address, etc. So she always makes the first payment early to make sure nothing goes wrong.  That good habit proved profitable this time.

When we signed the loan papers, there were no payment instructions in the closing documents (not terribly unusual). My loan officer said I would receive payment coupons later.  But when 10 days passed, and we heard nothing, She called them and She was sent to the bank's customer service line, where she was informed that there was no record of our loan. (Did that mean we didn’t have to pay it back? Sadly, No.) 

Customer service transferred me back to my loan officer. She assured me that their computers would catch up to my urge to pay the loan, and we’d get payment information soon. Incredulous that they seemed not to want my money, My wife persisted. She tapped a few keys on her keyboard, made us wait a minute, then told us that our loan had funded on May, so I didn't have to make a payment until June. 1.
"But my documents say repayment begins May. 1," I said. "So you're saying there will be no late fees if I don't pay May. 1?"
"
Yes," she said.

"Can I get that in writing.?”

"No. I can't do that."

At that point, I did what any mature consumer would do: I laughed. And then I muttered something about the 100 pieces of paper they just made me sign, with innocuous documents putting the finest point on everything you can imagine, like the form I initialed in multiple places agreeing that, yes, I am known by Jake, Jacob, Mr.J. and various other nicknames. Yet I couldn’t get the bank to put something in writing saying when we should make our loan payment?

Our loan officer didn't laugh, but eventually she put my wife on the phone with a supervisor who sounded very grave. She'd done additional research, she said, and found out that the reason customer service couldn't find my loan was because it had already been sold to another bank. 

Steep penalty anyway
But I'm not writing to warn you about late fees. There's a much bigger culprit here you have to worry about.  Had I followed my loan officer's advice and skipped a payment, even if the bank waived the late fee (which the manager said was likely), I would have paid a steep penalty anyway.  You've probably guessed the punch line: there's no such thing as skipping a payment. In reality, homeowners are borrowing that money and extending the loan term for an extra month.  The payment will be tacked onto the end of the loan, with interest.  How much? If it's a conventional loan, that’s 30 years’ worth of interest.  Effectively, you are borrowing one month's payment for 30 years. Ouch!

"Skipping is a misnomer. A better description would be ‘deferring with additional interest added,'" 
Just how much extra interest can skipping that first payment cost you? There are too many variables to create a decent rule of thumb. But let me give you an example of how I think it would be. A payment that is miniscule to one is a fortune to another. I’ll give you the numbers, then you can answer your own question. They are for a €100,000 on a 30-year loan at 6 %.

The initial interest payment on a €100,000 loan at 6% is €500. It is .06 times 100,000 divided by 12. If you skip the first payment, the €500 is added to the balance, making it €100,500. In the following month, your interest payment will be €502.50. The additional €2.50 is on the €500 you skipped. Further, the interest payment will remain higher throughout the remainder of the life of the loan, relative to what it would have been had you not skipped the first payment.

 
If your loan runs for the full 30 years, you will end up paying an additional €2993 of interest. If you pay the balance off after 15 years, it will cost €864 in additional interest. If you pay off in 5 or 10 years, it drops to €205 and €486.

Forget the €75 late fee. That's real money. Hmmm...a payment that is miniscule to one is a fortune to another.

Some loan officers say they only won't offer the "skip-a-payment" option unless the refinance closes toward the end of the month, when the homeowner might have trouble coming up with the extra cash for closing costs and a fresh mortgage payment close together.  Others say they offer it all the time.

To be clear: Most borrowers don’t actually complete their 30-year loans before moving or refinancing, so few would end up paying that high a penalty. Also, it's important to note that my bank didn't even hold the loan, so they weren't profiting from the “skip-a-payment” advice.  I believe this is usually a lazy mistake, not a greedy one. Still, the basic truth holds.  Don't be tempted to skip a payment when you refinance unless you really, really need the cash for some unusual expense ( Christmas credit card bills are probably not the best reason.)

Skipped payments are not to be confused with other loan closing related interest payments, including:

Your last payment on the old loan. You can't skip that, either. If your loan closes near the end of the month, you should still make the scheduled payment to your old bank. Why?  Interest is actually paid in arrears, meaning you pay at the end of the month the cost of borrowing the money for that month.  It's confusing, because mortgage payments are really two payments at once -- last month's interest and next month's principal.  

To keep it simple, if your loan closes on the Nov. 30, you will be paying November's interest with your Dec. 1 payment, along with December’s principal. You won't need to make the December principal payment if you refinance on Nov. 30, but most folks pay far more in interest than principal because they are early in their loan's term, so the overpayment won't be large. Just pay it to avoid late fees, and enjoy any refund that comes your way. 

Pre-paid interest. When your loan closes in the middle of the month, your new bank will make you pay up-front (as opposed to in arrears) daily interest for the remaining days of the month. If you close on the 20th, you'll pay 10 more days of interest payments.  That's OK, it means you won't owe the money on the back end of the loan.

It's important to keep all these quirky, refinance-related interest payments straight when talking to your loan officer, so you'll know what to do when he or she suggests you can skip a payment. 

None of this should scare you away from refinancing, which is really the only way you can make the recession work for you.

But remember, you are refinancing to save money, and you probably shopped around trying to save €50 here or €100 there on closing costs; don't lose thousands of Euros because of one false move after closing.

The Old Sailor,