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  • Originally posted by disneysteve View Post

    New balance $14,252.39.
    Made the March payment yesterday.

    New balance $12,077.29. I upped the extra principal by another $500. I want to knock this thing out soon.
    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.

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    • Originally posted by Randomsaver View Post

      Mortgage Principal : $72K
      Mortgage Principal : $71K
      Last edited by Randomsaver; 02-23-2019, 01:06 PM.
      Kill the debt, before it kills you!

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      • March payment plus additional principal.....$98k left
        Gunga galunga...gunga -- gunga galunga.

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        • For us its $332,022.55. 3.99%. I think we've got a ways to go still.
          [email protected]
          202.468.6043

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          • well I am watching this with envy as we want to buy a house in next couple of years...and then pay off in 5-7 years

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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.
              From post #336. I believe this was my prior last post on my interest expense.

              Now, my monthly interest expense is $162 on 3/1/2019.
              Kill the debt, before it kills you!

              Comment


              • Originally posted by Randomsaver View Post

                Mortgage Principal : $71K
                Remember I was very afraid of my big debt then that I broke them up to small chunks that I called "Focused Debt" so it won't cause too much stress and fast palpitations of my heart? I think it worked successfully and I have gotten past it. Now I can take on this size of debt psychologically and physiologically.

                Thank you God for getting me through the tough struggling financial times. I believe it is a necessary phase for many people that they have to go through in order to fast track the improvement of their quality of life.

                Mortgage Principal : $70K
                Kill the debt, before it kills you!

                Comment


                • Here is a question for you guys? At what amount do you think you can say that the psychological burden of mortgage debt is off your shoulders?

                  I still feel a bit uneasy with $70K debt, I would say if I get this down to $60K, that would be my sweet spot.
                  Kill the debt, before it kills you!

                  Comment


                  • Originally posted by Randomsaver View Post
                    Here is a question for you guys? At what amount do you think you can say that the psychological burden of mortgage debt is off your shoulders?

                    I still feel a bit uneasy with $70K debt, I would say if I get this down to $60K, that would be my sweet spot.
                    I think I would agree 50-60k. That would get it close to the point where Iíd start paying it even more aggressively as the light at the end of the tunnel is close.

                    Comment


                    • Originally posted by Randomsaver View Post
                      Here is a question for you guys? At what amount do you think you can say that the psychological burden of mortgage debt is off your shoulders?
                      I donít recall ever feeling like our mortgage was a burden. But we bought a very modest home. Purchase price was about 1.6 times income at that time and income went up soon after.

                      Now student loans were another issue. I always felt they were a burden.
                      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
                        Here is a question for you guys? At what amount do you think you can say that the psychological burden of mortgage debt is off your shoulders?
                        .
                        First time around with a mortgage I went kamikaze at 94k balance. Original loan was in the 160ís.

                        This time I started at 200k. I think once I get to 125k to 150k Iíll be fine.

                        currently at 186k after just over a year using accelerated payments of course.

                        Comment


                        • Originally posted by disneysteve View Post

                          Made the March payment yesterday.

                          New balance $12,077.29. I upped the extra principal by another $500. I want to knock this thing out soon.
                          April payment made.

                          New balance: $9,902.10! We're under 10K! The end is near.
                          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
                            Here is a question for you guys? At what amount do you think you can say that the psychological burden of mortgage debt is off your shoulders?

                            I still feel a bit uneasy with $70K debt, I would say if I get this down to $60K, that would be my sweet spot.
                            Within the last year, our retirement savings surpassed the balance on our mortgage.....which is a nice feeling.
                            Gunga galunga...gunga -- gunga galunga.

                            Comment


                            • Originally posted by Jluke View Post

                              First time around with a mortgage I went kamikaze at 94k balance. Original loan was in the 160ís.

                              This time I started at 200k. I think once I get to 125k to 150k Iíll be fine.

                              currently at 186k after just over a year using accelerated payments of course.
                              You know what, there is something to be said about getting experience in paying down debt. Psychologically, a second time mortgage is less daunting as the first so I agree with you. As long as the mortgage amounts are somewhat close to each other and not like more than double of the first mortage.
                              Kill the debt, before it kills you!

                              Comment


                              • Originally posted by disneysteve View Post

                                April payment made.

                                New balance: $9,902.10! We're under 10K! The end is near.
                                You are almost there disneysteve!
                                Kill the debt, before it kills you!

                                Comment

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