Author Topic: Mortgage less than $3k  (Read 1546 times)

Teachstache

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Mortgage less than $3k
« on: August 12, 2017, 04:38:07 PM »
Spouse and I had a large amount of money sitting in a checking account, earning nothing, so we decided to put it toward our mortgage a month ago. We took out our mortgage in August 2012, now we owe $2,800 on it 5 years later. Very close to paying it off. This is our only debt. Sharing it here since we can't share it with anyone IRL.

Megma

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Re: Mortgage less than $3k
« Reply #1 on: August 12, 2017, 05:53:04 PM »
Badass!
Get cash back on your online shopping from Mr Rebates (hotels, flights, ebay, groupon and more): http://www.mrrebates.com?refid=453502 (referral link, thank you!)

DapperD123

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Re: Mortgage less than $3k
« Reply #2 on: August 12, 2017, 06:36:49 PM »
Sweet!!!!!
USAF

Capt j-rod

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Re: Mortgage less than $3k
« Reply #3 on: August 14, 2017, 04:21:10 PM »
FREEDOM!!!!!!!!!!!! Congrats, I'm more than a little jealous

Teachstache

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Re: Mortgage less than $3k
« Reply #4 on: August 15, 2017, 07:44:24 PM »
Thanks, all, for the positive wishes. We can't share with anyone IRL, do I appreciate the props from the MMM community.

meandmyfamily

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Re: Mortgage less than $3k
« Reply #5 on: August 15, 2017, 10:10:02 PM »
So awesome!!

v8rx7guy

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Re: Mortgage less than $3k
« Reply #6 on: August 15, 2017, 10:15:47 PM »
Jealous!  One step closer to freedom...

ImCheap

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Re: Mortgage less than $3k
« Reply #7 on: August 16, 2017, 06:37:33 AM »
That's Mustastic,

Enojoy your freedom.

Dictator_Mars

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Re: Mortgage less than $3k
« Reply #8 on: August 16, 2017, 07:01:57 AM »
Congrats, in RL they would not understand your paying it off so fast.

Teachstache

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Re: Mortgage less than $3k
« Reply #9 on: August 16, 2017, 03:56:21 PM »
Congrats, in RL they would not understand your paying it off so fast.

Yep. I ran the numbers for the "mortgage interest tax deduction" and it's more beneficial for us to just take the standard anyway. Plus that assumes that I'd invest the full $113k of our loan amount. I just wasn't willing to do that.

Summary: $2,800 in mortgage debt, 35 & 36 years old, maxing out 2 403bs, 1 457 (only 1 available), a defined benefit pension for 80% of my salary at 55.

Gross joint salary is $115k with another $5k in side hustle from me, spouse earns 2 ETHERIUM crypto currency per month.

Question: do we count house value in our net worth?