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  • Originally posted by Randomsaver View Post

    Mortgage Principal : $71K
    Mortgage Principal : $70K Wohoo. Next payment and I'll be in the 60s.
    Kill the debt, before it kills you!

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    • Originally posted by Jluke View Post

      January 2019: $188,758
      May 2019: 186,197

      still doing > $260+ extra per month.

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      • Apr 2019: $578,092

        We are saving like crazy to pay it off this year. We aren't putting the savings against the mortgage yet. It's sitting in a MM account earning 2.37%.

        Mortgage payoff savings: $164,734

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        • Originally posted by corn18 View Post
          Apr 2019: $578,092

          We are saving like crazy to pay it off this year. We aren't putting the savings against the mortgage yet. It's sitting in a MM account earning 2.37%.

          Mortgage payoff savings: $164,734
          When you get to 186k savings you can pay off mine.

          i will let you know how it feels before you save all that money

          Comment


          • April 2019: we owe $331,459.49.

            Our current interest rate is something like 3.99%. Since we got the mortgage a couple of years ago, most of the payment is still going to interest. Which is a bit depressing, but at least we're still getting the tax and appreciation benefits.
            [email protected]
            202.468.6043

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            • Originally posted by Jluke View Post

              When you get to 186k savings you can pay off mine.

              i will let you know how it feels before you save all that money
              Heck I can beat that deal. Just write me a check for 10K to pay off ours.
              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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              • Happy Easter Sunday to y'all!
                Kill the debt, before it kills you!

                Comment


                • Originally posted by corn18 View Post
                  Apr 2019: $578,092

                  We are saving like crazy to pay it off this year. We aren't putting the savings against the mortgage yet. It's sitting in a MM account earning 2.37%.

                  Mortgage payoff savings: $164,734
                  It will be like a record of the millenium if you achieve payoff this year from 164 to 550. Go for it corn18!
                  Kill the debt, before it kills you!

                  Comment


                  • Originally posted by Randomsaver View Post

                    Mortgage Principal : $70K Wohoo. Next payment and I'll be in the 60s.
                    D-Day has come.

                    Mortgage Principal : $69K

                    I think with this balance, I am comfortable enough psychologically to not partition a smaller amount into Focused Debt. Although I really enjoyed the partitions in the past as there is a second benefit to it apart from the psyche of seeing a smaller debt -- there is satisfaction that I derive of paying it off. Imagine a debt and paying it off. Happiness and ecstasy right? Now imagine experiencing that not once but multiple times.

                    Kill the debt, before it kills you!

                    Comment


                    • That's great, Randomsaver. Keep at it and watch that number continue to shrink.

                      I haven't made our May 1 payment yet but I will this week. Since I moved some excess cash out of our checking account and an unexpected $1,100 expense came up, I'm actually a little short so I'm waiting for Thursday's paycheck rather than bothering to transfer money back into checking.
                      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


                      • When this check clears our mortgage will be whittled down to $330,894.56. We still have a good 27 or so years on the note, but slow and steady wins the race.
                        [email protected]
                        202.468.6043

                        Comment


                        • Originally posted by disneysteve View Post

                          April payment made.

                          New balance: $9,902.10! We're under 10K! The end is near.
                          May payment made.

                          New balance: $7,619.67
                          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 disneysteve View Post

                            May payment made.

                            New balance: $7,619.67
                            Are you going to celebrate or do anything special when it's paid off?

                            Comment


                            • Originally posted by JoeP View Post

                              Are you going to celebrate or do anything special when it's paid off?
                              I'm sure I'll make a post here with a few exclamation marks.

                              Seriously, we haven't even discussed it. Maybe we'll go out to dinner or something. We'll have an extra $700/month to play with so we can afford a good meal .
                              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


                              • Haven't been posting much as I have been so busy or just not feeling well, but that doesn't mean I have financially let things go to pot. In about the last three years, I wish I had written all the numbers down and when things happened, other than trying to search posts here. We have paid off a very small cc, paid off the car, paid off the rental property and sold the rental property Thank God!!! Literally. That means we have money in savings that we can tap as needed as well as money in the tax account (even after April 15!) We will be paying estimated taxes this year, but unless something huge happens, we should get most of it back next April.

                                In the meantime, I pay extra on all credit cards as well as the mortgage. From a post here I can see that on 3-30-18 our mortgage was $63504 and currently it sits at $58726! We have paid a bit over $50 extra each month on it. I have also been making extra payments on all the credit cards. I definitely round up and usually to the next $25 at least. I am focusing on the smallest bill currently and the statement arrived yesterday saying I owed $690.98 with $34 due on 5-23. Nope on 5-1 along with the other two Chase cards, I paid their payments plus so I really owe on this one $540.98. Currently, the 'minimum' payment is $34. The payment I made on the 1st was for $150! At that rate, I should have it completely paid off in 3-4 months. Then onto the next lowest. While I am good with numbers and know that technically the 'best' way to pay off debt is to pay off the highest interest one first, I like the pure joy of setting a goal and hitting it. Same with all our IRAs and stock account, we are now over $51K. Some of that from two old IRA accounts and what we opened about 15-16 years ago that have grown from $7K to around $30K. With the sale of the rental property, we were able to put another $6K in the IRAs as well. Going over that $50K was like a winning a prize. Never have I had that much in savings, but I know I will feel the same way when the mortgage drops below $50K as well.

                                Congrats to all of you that are getting near the end of their mortgages. When ours is done hopefully we will be going out to Red Lobster to celebrate as that is the only time we can really afford to go there, for momentous occasions in our lives. But that is a way yet.

                                Gailete
                                http://www.MoonwishesSewingandCrafts.com

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