House Mortgage -- Countdown

[Randomsaver]

Have been waiting to post....finally broke the $100,000 barrier.
$99,100 balance as of today!

You're the man (or woman) !

[Randomsaver]

Mortgage Principal : $188K

I'm no longer angry, I'm

Mortgage Principal : $180K

[Randomsaver]

Same to you snafu!


Not sure how to compute but my past 2 months' statements showed a $4 drop in interest charges (from $454 to $450).

Above post was from 1/1/2015.

My monthly interest expense went down from $450 on 1/1/2015 to $420 for 6/1/2015. That is $30 payment swing to the side of principal reduction so far.

[snafu]

@Randomsaver, did I read this correctly, June 2014 Mortgage $ 203K, June 2015 Mortgage $180K?
Good on you for making a plan and sticking to it! Terrific progress

[Fishindude77]

Great job by a bunch of folks here ! More should focus on paying off their homes.
We've been mortgage free for approx. 10 years now. It's a great feeling.

[Randomsaver]

@Randomsaver, did I read this correctly, June 2014 Mortgage $ 203K, June 2015 Mortgage $180K?
Good on you for making a plan and sticking to it! Terrific progress

Great job by a bunch of folks here ! More should focus on paying off their homes.
We've been mortgage free for approx. 10 years now. It's a great feeling.

Thank you both snafu and Fishindude77. It uplifts the spirit to read words of encouragement. I don't know how others are able to do it. Really. This is one tough test of mental, emotional and even physical boundaries.

[disneysteve]

$49,079.30 as of today.

I just scheduled the July 1 payment. That will bring the balance to about $46,701 more or less.

[Randomsaver]

I just scheduled the July 1 payment. That will bring the balance to about $46,701 more or less.

Cheers!

[Eagle]

Mortgage Principle: $98,588.27 April...

Mortgage Principle today: $98,151.88

So ready to get this thing under 90k. Been a long 6 months. Hopefully the next 6 months will be better.

[JoeP]

Mortgage Principle: $98,588.27 April...

Mortgage Principle today: $98,151.88

So ready to get this thing under 90k. Been a long 6 months. Hopefully the next 6 months will be better.

It will. Each future payment will chip away at the principal a little more than the previous one. We hung at a certain figure for what seemed a very long time, but now we're bringing the balance down pretty quick.

[Randomsaver]

Mortgage Principle: $98,588.27 April...

Mortgage Principle today: $98,151.88

So ready to get this thing under 90k. Been a long 6 months. Hopefully the next 6 months will be better.

It will. Each future payment will chip away at the principal a little more than the previous one. We hung at a certain figure for what seemed a very long time, but now we're bringing the balance down pretty quick.

Eagle, buddy miss you here. Congrats on bringing down debt!

I agree JoeP. Hope all is working well for you.

But before we look to the second half of the year, it's a pat-on-your back mini-celebration time as the first half of the year of payment draws to a close.

I'm gonna grab me a nice fancy cold beer. Cheers!

[Randomsaver]

Happy Memorial Day Weekend to y'all!

Focused Debt : $31K

Focused Debt : $29K

Advance happy Fathers' Day!

[Randomsaver]

I (single father) have little by little started college savings for my 2 kids. Total saved currently is $28K.

I plan to divert the $14K for my youngest and use it to bring down my principal mortgage balance since I believe I still have time to rally for that later on in life.

I'll keep the other $14K for my eldest who is approaching 10 and continue adding to it. I should be done with the house mortgage a few good years before my youngest starts college.

[Jluke]

General question that I am faced with in my efforts to payoff my mortgage quickly and I'm curious what others are doing.

Are people still maintaining their homes and replacing aging items ( doors, windows, HVAC, appliances, etc)?

I do one or two projects each year. However, if I really accelerate the payoff of the mortgage I feel like I will reach the point where the house is paid off but then I'll need a loan for other projects. Feels like a balancing act with allocating savings.

So will I ever see cheap money as my current mortgage? (68000 left @2.875% with max 7 years to go, $900/month)

Sorry if I hijacked this thread.

[Randomsaver]

^ This thread is for all who has mortgage debt.

For me, I'm putting my maintenance project every after 5 years. The last time I did mine was 2013.

This way I can focus on increased mortgage payment for 4 straight years.