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House Mortgage -- Countdown

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  • Originally posted by Nutria View Post


    Create a spreadsheet with 12 tabs.

    This -- and a similar spreadsheet I use as a forward looking check register -- has been a real boon to our financial stability.
    Thanks for the feedback... I do something similar in Quicken with tracking my other expenses that I save up for during the year so it subtracts from my "savings".

    My biggest challenge with the mortgage is patience. I am on track to pay it off in 2019... or 2018... I could pay it off now, but I'd be cash poor, house rich.

    Comment


    • Originally posted by Jluke View Post
      I made my February payment; $2000 instead of the planned $1200; so $1100 extra.

      February 2016: $50,109

      Not sure yet what I'll do for March payment... or beyond. I can't seem to stick to a plan.

      Haha. But this is THE kind of deviation from the plan that we'd rather have!

      Good for you!
      Kill the debt, before it kills you!

      Comment


      • Originally posted by Randomsaver View Post
        Above post was from 6/6/2015.

        My monthly interest expense went down from $420 on 6/1/2015 to $375 for 10/1/2015. That is $45 payment swing to the side of principal reduction.
        My monthly interest expense went down from $375 on 10/1/2015 to $338 for 1/1/2016. That is $37 payment swing to the side of principal reduction.
        Kill the debt, before it kills you!

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        • Current mortgage is finally under $200K.

          We are selling our house this Spring and with the equity of this house, we plan to get a loan under $150K.

          Then we can be on a better countdown.

          We currently have 12 years left on this current mortgage.

          Comment


          • Originally posted by Randomsaver View Post
            Focused Debt : $16K
            Focused Debt : $15K
            Kill the debt, before it kills you!

            Comment


            • Originally posted by Jluke View Post

              February 2016: $50,109
              March 2016: $48,229 (2k again)

              Comment


              • After Feb payment 90,713
                Only 77 payments left! If I wait that long.

                Comment


                • Originally posted by Jluke View Post
                  March 2016: $48,229 (2k again)
                  Originally posted by tqf258 View Post
                  After Feb payment 90,713
                  Only 77 payments left! If I wait that long.
                  Nice to see them coming down!
                  Kill the debt, before it kills you!

                  Comment


                  • Originally posted by Randomsaver View Post
                    Focused Debt : $15K
                    Focused Debt : $14K

                    Happy Hearts Day!

                    Paying down mortgage is good for the heart.
                    Kill the debt, before it kills you!

                    Comment


                    • Originally posted by Goldy View Post
                      I just crossed the 200k mark which is pretty exciting to me. Started with a balance of 262,500 in 2011 and is now down to 199,653 as of today. Currently paying an additional 1200/mo and hoping to get it paid off in 5-6 more years.
                      Down to 177k but am starting to have a change of heart in the old invest vs pay off mortgage debate so I am reducing my extra principle in order to invest more.

                      Comment


                      • $42,724.77 prior to today's payment.
                        Steve

                        * Despite the high cost of living, it remains very popular.
                        * Why should I pay for my daughter's education when she already knows everything?
                        * There are no shortcuts to anywhere worth going.

                        Comment


                        • as I glanced at your figure, I jumped to the conclusion you'd bought a car If it were the focus of your financial attention could it be gone by the time DD graduates?

                          Comment


                          • Originally posted by snafu View Post
                            as I glanced at your figure, I jumped to the conclusion you'd bought a car If it were the focus of your financial attention could it be gone by the time DD graduates?
                            I assume that was directed at me.

                            What made you think I bought a car?

                            No, we can't pay off the mortgage by the time DD graduates in 2018. We just don't have the cash flow to do that, although if I do change jobs, our situation will improve considerably so who knows.
                            Steve

                            * Despite the high cost of living, it remains very popular.
                            * Why should I pay for my daughter's education when she already knows everything?
                            * There are no shortcuts to anywhere worth going.

                            Comment


                            • Originally posted by Randomsaver View Post
                              Focused Debt : $14K

                              Happy Hearts Day!

                              Paying down mortgage is good for the heart.
                              Focused Debt : $13K
                              Kill the debt, before it kills you!

                              Comment


                              • snowstorm O/T this month allowed for a "double payment", knocked $2k off the principal which is nice...down to $163k
                                Gunga galunga...gunga -- gunga galunga.

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