House Mortgage -- Countdown

[Jluke]

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.

[Randomsaver]

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!

[Randomsaver]

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.

[dawnwes]

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.

[Randomsaver]

Focused Debt : $16K

Focused Debt : $15K

[Jluke]

February 2016: $50,109

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

[tqf258]

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

[Randomsaver]

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

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

Nice to see them coming down!

[Randomsaver]

Focused Debt : $15K

Focused Debt : $14K

Happy Hearts Day!

Paying down mortgage is good for the heart.

[Goldy]

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.

[disneysteve]

$42,724.77 prior to today's payment.

[snafu]

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?

[disneysteve]

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.

[Randomsaver]

Focused Debt : $14K

Happy Hearts Day!

Paying down mortgage is good for the heart.

Focused Debt : $13K

[greenskeeper]

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