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House Mortgage -- Countdown

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  • Originally posted by amarowsky View Post
    64.8/75k 5/4/17.
    62.6/75K on 6/11/2017

    New budget is working well! Added an additional $1000 on top of our normal additional payment. Knocked out $1500 on top of my normal mortgage payment.

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    • Originally posted by MooseBucks View Post
      Mortgage Principal - $174,027
      Payments Left - 184
      Mortgage Principal - $172,998
      Payments Left - 182

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      • Originally posted by Randomsaver View Post
        My monthly interest expense went down from $252 on 1/1/2017 to $228 for 4/1/2017. That is $24 payment swing to the side of principal reduction.
        My monthly interest expense went down from $228 on 4/1/2017 to $211 for 7/1/2017. That is $17 payment swing to the side of principal reduction.
        Kill the debt, before it kills you!

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        • I'm on the downward stretch on the two smaller mortgages for our rental porperty, so there isn't that much in interest currently anyhow, but down around $10-15 per month from last year.

          With the house mortgage I have only been able to make a couple $50 extra payments, but depending on the day of the week that the mortgage amount goes through, that makes a big difference in the amount of interest. This month since the pay date landed on a Sunday, the money didn't go through for one extra day, but I think with a few more extra payments and trying to pay that mortgage as soon as my SS check is here, we should be saving a lot more since we have technically I think, about 18 years to pay on it and I want it gone a whole lot sooner than that!
          Gailete
          http://www.MoonwishesSewingandCrafts.com

          Comment


          • Originally posted by LivingAlmostLarge View Post
            we are back in debt with a mortgage. 360 payments. My goal is to have it paid off the day we want to retire. If we cashed everything out right from retirement and investments we could pay it off. But the purpose isn't to touch our retirement. We need to be able to pay it off with our taxable accounts comfortably. Right now we are at around 19.9% of our mortgage in our taxable accounts after taxes.

            Let's see how long this takes.
            This is a very nice situation. Congrats! I too this year had matched my 401 and mortgage balances, but also won't touch 401.
            Kill the debt, before it kills you!

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            • Originally posted by Randomsaver View Post
              A nice tap on all your backs for completing payments for the First Half of 2017!

              Congratulations to us all!

              Mortgage Principal : $97K
              Kicking off the 2nd Half of 2017 early.

              Mortgage Principal : $96K
              Kill the debt, before it kills you!

              Comment


              • Selling My House

                Hi fellow savers,

                I have listed my house for sale so I can move for the following reasons:

                - downsize (easier and less expensive to maintain)
                - better high school zoning
                - potential later on for rental

                I'm looking to continue my mortgage countdown and just reflect any changes as things happen.

                Most likely I will be renting first as I'm finding out I have very limited options on the area where I want to be (there are only 2 communities building townhomes : 1 of them has built the driveway very short; the other one is above average in quality but they haven't even broke ground yet on the new buildings with the existing ones already reserved/pre-sold). I had already paid reservation on the lot I want for the townhome.
                Kill the debt, before it kills you!

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                • Seriously?

                  I know they stated 1-car garage, but where will my friend's car park? We don't want to litter the road with parked cars.

                  This car is an inch from touching the garage door.
                  Attached Files
                  Kill the debt, before it kills you!

                  Comment


                  • I am surprised you have listed your home for sale in circumstances that adds considerable more effort, packing, placement decisions, notifications, new routes, and cost of utility transfers, packing supplies, truck/transportation, MV and more. Does the builder offer any incentives to those who ask?

                    I wonder if you've taken time to 'stage' the rooms which is slightly different than day-to-day living. [You Tube outlines DIY process]. The most productive Agents here insist their staged properties garner a better price since buyers find it easier to imagine themselves in your property.

                    Comment


                    • Originally posted by snafu View Post
                      I am surprised you have listed your home for sale in circumstances that adds considerable more effort, packing, placement decisions, notifications, new routes, and cost of utility transfers, packing supplies, truck/transportation, MV and more. Does the builder offer any incentives to those who ask?

                      I wonder if you've taken time to 'stage' the rooms which is slightly different than day-to-day living. [You Tube outlines DIY process]. The most productive Agents here insist their staged properties garner a better price since buyers find it easier to imagine themselves in your property.
                      Yup, it's a lot of work.

                      I'm pricing it almost at cost so it shall sell fast. The price shall cover all commission and closing costs + only $5K profit.

                      Here was/is my weekly plan :

                      June 1-7:
                      - Find good agent to partner with
                      - Deep clean my house
                      - Get pre-qualified

                      Jun 8-14:
                      - Take pictures of my house
                      - Find property to move to and make offer for those I like
                      - Reserve lots I like and then cancel if one of my offers to buy gets accepted

                      June 15-21:
                      - List my house for sale
                      - Do Open House (today!)
                      - Find property to move to and make offer for those I like
                      - Reserve lots I like and then cancel if one of my offers to buy gets accepted

                      June 22-28
                      - Fix any repair/blemish needed on my house
                      - Accept highest offer by the 25th
                      - Find property to move to and make offer for those I like
                      - As back-up, find a rental apartment to move to and make reservations
                      - Start selling stuff

                      June 29-July 5
                      - Accommodate closing activities from sale of my house like furnish documents needed, home inspection, appraisal, etc.
                      - Advise utilities to close my account to the closing date
                      - Continue selling stuff
                      - Start packing stuff I don't need while I stay in the house
                      - Contract a moving team
                      - Find property to move to and make offer for those I like


                      July 6-12
                      - Prepare welcome kit for the Buyer (floor plans, paint colors, stuff that were turned over to me by the Builder)
                      - Depending on closing date, pack the remaining stuff or delay
                      - Make decision : rent or buy
                      Kill the debt, before it kills you!

                      Comment


                      • HAPPY FATHER'S DAY !!
                        Kill the debt, before it kills you!

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                        • Randomsaver why are you selling? Have I missed this blog post or conversation?
                          LivingAlmostLarge Blog

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                          • Joining in here and making our way to payoff!

                            82 acre farm, lots of equity and planning to sell around the time we pay it off and buy a smaller place and build the house and barns of our dreams with a lot of money left over.

                            Current amount left on Mortgage: 46,426.71

                            Comment


                            • Originally posted by Randomsaver View Post
                              Yup, it's a lot of work.

                              I'm pricing it almost at cost so it shall sell fast. The price shall cover all commission and closing costs + only $5K profit.
                              You should price it at it's current market value.

                              Comment


                              • Just made our very first mortgage payment this month on our home. $3900. Only a smidge under $598,500 in principle to go

                                On the plus side, after a few years when we gut the kitchen, we'll start making some extra payments so we plan to pay off faster than the 30 years we have on the mortgage. Le sigh.

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