House Mortgage -- Countdown

[Jluke]

Penultimate mortgage payment just sent.

Congrats. Will you coordinate the final payment amount with them ahead of time?

[Nutria]

Congrats. Will you coordinate the final payment amount with them ahead of time?

Yup, to validate that we both have the same numbers.

[Gailete]

Penultimate mortgage payment just sent.

Congrats, I want mine done in the next 5 years which will take some work, but I want them paid off before hubby's term life insurance runs out since they would never cover him again.

[dbow2000]

Started - Mar 2017: $25k

Sep 2017 - paid $1262

Current bal: $16895

[markr867]

October 2017
Mortgage payment: #6 of 350
Extra applied to principal: $256.96
Ending balance: $297,245.43

Another month shaved off. We have now taken off 10 payments in only 6 months.

[Randomsaver]

Penultimate mortgage payment just sent.

Congrats!

[Randomsaver]

Mortgage Principal : $68K

Mortgage Principal : $67K

[Randomsaver]

I just remembered the guy who showed his mortgage payoff by drawing an outline of his house's floorplan on graph paper. He shaded in squares to represent the amount of his mortgage that was paid off. That was such a cool way to visualize it!

Agree. That is way .

[snafu]

Nutria, congratulations on paying off mortgage in September. Will it seem strange to not see that repetitive sum fly out of the account in October? Have you made a specific plan is for reallocation?

[Nutria]

Nutria, congratulations on paying off mortgage in September. Will it seem strange to not see that repetitive sum fly out of the account in October? Have you made a specific plan is for reallocation?

Snafu, the ultimate payment will be sent this month. Nine more days, in fact!

Just as the money for auto loan payments were immediately added to the Car Fund, the mortgage payments will be added to the Home & Appliance Repair/Replacement Fund.

[Nutria]

Final payment cleared the bank last night!!

We now have a grand total of $37.67 in debt (all from CC charges yesterday).

[Gailete]

Congratulations Nutria! That is a huge accomplishment!


I bet you are part of a very small minority if you leave out seniors that have lived in their house for years and evenutally it got paid off. What I think is sad is how many people I have read about in the AARP magazine and Money magazine that had a house free and clear because it had been in the family and they got a mortgage - adjustable rate - and have been about to lose the family home for 50+ years. As well as those making $100K during the RE bubble that crashed and their bankers had allowed them to take out $500K loans! Plan logic should have told them that they couldn't afford a half million dollar home.

[scfr]

Final payment cleared the bank last night!!

We now have a grand total of $37.67 in debt (all from CC charges yesterday).

But what about the electricity you used since you last paid the electric bill?
I'm kidding!

Congratulations!

[Nutria]

But what about the electricity you used since you last paid the electric bill?

It's not a debt until I get the bill. (Besides, we've got a credit balance on the electric bill from a home-rolled bill leveling.)

[disneysteve]

It's not a debt until I get the bill. (Besides, we've got a credit balance on the electric bill from a home-rolled bill leveling.)

scfr was joking about an ongoing debate around here about what constitutes a debt. I'm with you. The utility bills are not debts as long as they are being paid in full and on time every month.

Congrats on the mortgage!