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House Mortgage -- Countdown

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  • #91
    Originally posted by Randomsaver View Post
    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.
    Lucky kids.

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    • #92
      ^Thanks. Trying...
      Kill the debt, before it kills you!

      Comment


      • #93
        Originally posted by Randomsaver View Post
        Focused Debt : $29K

        Advance happy Fathers' Day!
        Focused Debt : $28K

        Happy Freedom Day 2015 to y'all.
        Kill the debt, before it kills you!

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        • #94
          $97,881.51
          Last edited by Eagle; 07-07-2015, 05:26 AM.
          ~ Eagle

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          • #95
            Originally posted by Eagle View Post
            $97,881.51
            May I ask what your mortgage details are (length, rate, monthly payment)?

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            • #96
              $98,050

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              • #97
                Originally posted by Eagle View Post
                $97,881.51


                Originally posted by tqf258 View Post
                $98,050
                Nice job both of you.
                Kill the debt, before it kills you!

                Comment


                • #98
                  Jumping into the mortgage payoff game.

                  2006: $165,000 (30 yr)
                  2008: $161,500 (15 yr refi)
                  2013: $94,000 (10 yr refi)

                  January 2015: $78,792
                  September 2015: $57,521


                  Target Payoff: December 2018

                  Plan: $300 extra per month; option for additional 2k to 5k payments along the way to speed it up. Ending with a 20k (June) to 13k (Dec) payoff in the year 2018 IF I stay on track and no major life changes.

                  I will be 41 when it is paid off.

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                  • #99
                    ^ Nice! You can do it!

                    Me, since I'm already in early 40s, my hope is to finish at 49 so I can tell myself when I turn 50 that I truly own a house.

                    I'm such a late bloomer.
                    Kill the debt, before it kills you!

                    Comment


                    • Originally posted by Jluke View Post
                      May I ask what your mortgage details are (length, rate, monthly payment)?
                      @Jluke

                      Welcome to the forums!

                      We have a 30 year mortgage at about 4.6%. Our monthly payments are right under $1000.

                      Bought the house at the end of 2013. Hope to pay it off by the time we're 41 as well. That's 8 more years.

                      You can read more about us here: www.eaglesoaringhigher.com/?p=1
                      ~ Eagle

                      Comment


                      • Originally posted by Eagle View Post
                        @Jluke

                        Welcome to the forums!

                        We have a 30 year mortgage at about 4.6%. Our monthly payments are right under $1000.

                        Bought the house at the end of 2013. Hope to pay it off by the time we're 41 as well. That's 8 more years.
                        Thanks for those details... I asked b/c it looked like "only" ~$300 of principal was reduced with the monthly payment? I was going to suggest a re-fi to a 10, 15 or 20-yr so you can pay more towards principal... If you're going to pay it off in 8 years, then I'm guessing you will pay a lump sum at some point.

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                        • Originally posted by Randomsaver View Post
                          Focused Debt : $28K

                          Happy Freedom Day 2015 to y'all.
                          Focused Debt : $27K
                          Kill the debt, before it kills you!

                          Comment


                          • Originally posted by Randomsaver View Post
                            Focused Debt : $27K
                            Focused Debt : $26K
                            Kill the debt, before it kills you!

                            Comment


                            • Originally posted by Randomsaver View Post
                              Focused Debt : $26K
                              Focused Debt : $25K
                              Kill the debt, before it kills you!

                              Comment


                              • Originally posted by Jluke View Post
                                August 2015: $57,521

                                Target Payoff: December 2018
                                September payment of $1200: $56,460

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