Author Topic: Mortgage Payment Club $125K : Starting current balance of $100K-$149K  (Read 9698 times)

bender

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #50 on: January 26, 2017, 10:10:40 AM »
If you saved 80%, you would be FI and be able to retire in just 5.5 years.  Income does not factor into the equation.  It's all about finding a level of spending that you can be happy with.  It's different for everyone.

http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/



CheapScholar

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #51 on: January 26, 2017, 05:56:34 PM »
Statement came today.  Another 1K in principal paid off and another lego on my 3D mortgage payoff model makes its way back to my son's toy box.

Balance:
Dec 2016   119K
Jan 2017    118K

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #52 on: January 28, 2017, 01:16:27 PM »
Statement came today.  Another 1K in principal paid off and another lego on my 3D mortgage payoff model makes its way back to my son's toy box.

Balance:
Dec 2016   119K
Jan 2017    118K

Awesome!

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #53 on: January 28, 2017, 01:17:50 PM »
Beginning Mortgage Debt This Month: $148,000
Paid Mortgage Debt This Month :  $9,000
Ending Mortgage Debt : $139,000

Dayng you're the boss!

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #54 on: January 28, 2017, 01:22:21 PM »
Beginning mortgage this month: $148,447
Paid Mortgage Debt this month: $1000
End of the month mortgage balance: $147,447

I am not sure I will pay this off in 5 years (that would be nice) but no matter what it will be done in 10. I have a 11.5 years left (on a 12 year mortgage) at 2.875%

Good luck to everyone.

Welcome to the MPC125K Club 4n6.  You can do it!

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #55 on: January 28, 2017, 01:25:58 PM »
Current Home Value: $300,000
Original Mortgage Balance (June 2003): $225,000
Current Mortgage Balance (Jan 2017): $126,000
Monthly Principal Reduction Via Mortgage: $1000

Welcome Lochi21.  Wow 2003 I remember earning less than $10K a year which continued well into 2005 for me.  2006 was the big jump to $40K a year salary for me.

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #56 on: January 28, 2017, 01:29:23 PM »
Beginning Mortgage Debt This Month: $113,000
Paid Mortgage Debt This Month :  $1,000 
Ending Mortgage Debt : $112,000
Beginning Mortgage Debt This Month: $113,000
Paid Mortgage Debt This Month :  $2,000 
Ending Mortgage Debt : $111,000

Lochi21

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #57 on: January 30, 2017, 05:44:05 AM »
Hey guys.  Congrats on the progress I'm seeing in here!  You're all motivating the hell out of me!!  I'll post up my monthly savings numbers in a few days.

CheapScholar - Bender's link to MMM's article is spot on - it really comes down savings rate if your goal is early retirement.  But it sounds like your goal right now is mortgage elimination and that's awesome.  Keep working hard, saving as much as possible and post up those monthly numbers.  There is nothing wrong with laser-focus on debt elimination - especially at an early age.  Many CFPs would say you're missing some valuable early compounding years but I honestly believe you are hard-wiring some neural pathways with regards to debt aversion that will make your financial life very comfortable.

....and for God sakes would everyone in here please yell NO EFFING WAY every time they drive past a Starbucks on their way to work!!

CheapScholar

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #58 on: January 30, 2017, 09:19:30 PM »
Thanks, Lochi.  And thanks to everyone on this thread - it is inspiring.  Lochi, I sometimes joke that I'm only half stache.  In addition to killing my mortgage, my wife and I do max out retirement accounts - saving 49K per year in those combined.  We also invest a few bucks here and there when we can.  I live in a way that is very frugal, but I do manage to blow a lot on travel. 

All that said, my FIRE date is set at 2030.  I've done the math a thousand times based on the number of dollars we save every year and the figures are solid.  That's why I never bothered figuring out the savings rate, but perhaps I should just to see where I'm at.

Lochi21

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #59 on: February 01, 2017, 05:48:22 AM »
Really great to hear Cheap!  Keep up the great savings and don't beat yourself up for some fun travel with those types of savings numbers.  it's the people who put travel in front of saving that need to wake up.

Regarding the savings rate topic.  To be honest, I didn't do it at first either.  But now after having it done it I have found it invaluable.  For me, it made me look at every line item of my monthly budget and ask some serious questions. Questions like, "Is this necessary?" "Can I make this cheaper and still be happy?" etc.  I honestly think most people don't do the exercise because they really don't have a meticulous monthly budget.   

CheapScholar

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #60 on: February 01, 2017, 05:21:38 PM »
We have a family budget, but it only covers fixed expenses.  There's always something unexpected, usually the costs of raising our child.  One reason I neglect figuring out my savings rate is it seems there are numerous formulas floating around the MMM forum.  For example, my employer mandates that I put 5% of my salary in my 403b.  But that is pretax.  Do those dollars count as savings? Also, does the $1,000 I chip away at my mortgage principal every month count?  $200 of that is forced by means of my set payment, $800 is the curtailment I elect to make.

jedsbud

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #61 on: February 01, 2017, 09:07:12 PM »
January 2017
Beginning Mortgage Debt This Month: $112,538
Paid Mortgage Debt This Month:  $2,312
Ending Mortgage Debt: $110,226

This is a combo of two mortgages.  My main mortgage is sitting just under $90K with a very good interest rate, my second mortgage is at a much higher rate and has a little over $20K left.  The additional principle I am paying is on the second mortgage.  This second mortgage is going to be eliminated this year. 

Lochi21

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #62 on: February 02, 2017, 05:49:20 AM »
We have a family budget, but it only covers fixed expenses.  There's always something unexpected, usually the costs of raising our child.  One reason I neglect figuring out my savings rate is it seems there are numerous formulas floating around the MMM forum.  For example, my employer mandates that I put 5% of my salary in my 403b.  But that is pretax.  Do those dollars count as savings? Also, does the $1,000 I chip away at my mortgage principal every month count?  $200 of that is forced by means of my set payment, $800 is the curtailment I elect to make.

Cheap - I would definitely count that 403b but you just need to find the formula that you think is most accurate.  There are many discussions on the topic in the forum.  I count the monthly principal amount on my mortgage for instance while some do not.  Pick a formula you think is right and crunch the numbers.

Regarding your budget for fixed expenses only and not the incidentals and kids - I would say you have some huge opportunities here.  This is where most people stop and fail to dig deeper.  I have a kid too and budget for everything.  Your budget will take some time to create and will be a work in progress for a while but my line items for each category are pretty solid now.  I have a nice little Google Sheets spreadsheet I could share with you if you'd like?  What I like is that if I have already used up my budget for kid's clothing allowance for the month I get to say "No".  And if I can't say no then I tap into funds I have set aside for leisure or whatever for the month.  The bottom line is everything is tracked. I know that can sound daunting but it's really not that hard once you get into the habit.

Gotta run. Talk soon.

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #63 on: February 15, 2017, 07:51:13 PM »
Beginning Mortgage Debt This Month: $113,000
Paid Mortgage Debt This Month :  $2,000 
Ending Mortgage Debt : $111,000
Beginning Mortgage Debt This Month: $111,000
Paid Mortgage Debt This Month :  $1,000 
Ending Mortgage Debt : $110,000

Lochi21

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #64 on: February 17, 2017, 05:44:40 AM »
Mortgage Balance: $125,574
Mortgage Savings This Month: $4500
Mortgage Saving Account (MMSA) Balance: $123,707

bender

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #65 on: February 18, 2017, 05:18:41 AM »
Beginning Mortgage Debt This Month: $148,000
Paid Mortgage Debt This Month :  $9,000
Ending Mortgage Debt : $139,000

Beginning Mortgage Debt This Month: $139,000
Paid Mortgage Debt This Month :  $9,000
Ending Mortgage Debt : $130,000

Dicey

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #66 on: February 23, 2017, 02:11:26 AM »
Is there any advantage to paying the lender directly vs saving the money and paying it down in one lump sum?

Thanks-

All depends on your mortgage rate and balance, and what kind of return you think you can get investing to build your funds.  I plan on paying extra on my mortgage until it's at about 50K and then paying it off with some money/investments.  Although, if at that point, I feel the market is hot I'd keep the money in investments. 

Some posters on this forum think it's a bad idea to pay down your mortgage because the rate is typically low.  I see that math, but I also want the peace of mind of true home ownership.
Yeah, I want the peace of mind that comes from having shit loads of money in investments. Paying off the mortgage before investing comes at a steep cost, long term. Sad that too few take the time to learn and understand the math.

BTW - There is no such thing as "true home ownership". There will always be taxes, utilities and maintenance. All three have a propensity to increase over time. Worrying about paying those in my old age because I didn't amass enough in my working years is a place I am unwilling to go.

ETA: This advice is not directed to anyone in the great, frozen North. I have little understanding of how things work in Canada. Could be completely different there ;-). I freely admit I know nothing significant about curling, either.
« Last Edit: February 23, 2017, 02:17:03 AM by Diane C »
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

Dicey

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #67 on: February 23, 2017, 02:23:44 AM »
It sucks, I'd like to move nearer to my inlaws to get more help with the baby, but the place they live is awful (Inland Empire, literally the worst air quality in the country and way overdeveloped.) And the place we live now is pretty HCOL, so we can't just up and buy them a house here so that they can move. Been looking for a place to move to that's cheaper, but so far we can't decide on any place that would be comparable to what we have here (in the mountains right outside Santa Cruz). Any place with decent air quality seems to rain all year long =/
I feel you, MrsWhipple. I grew up in one and live within striking distance of the other. Are you approaching FIRE or do you work remotely so location doesn't matter? If so, have you considered the many mountain communities that ring the IE? Better AQ, less density, small town feel, etc. Spartana is an excellent resource, having researched and lived in same.
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

CheapScholar

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #68 on: February 23, 2017, 05:47:58 AM »
Is there any advantage to paying the lender directly vs saving the money and paying it down in one lump sum?

Thanks-

All depends on your mortgage rate and balance, and what kind of return you think you can get investing to build your funds.  I plan on paying extra on my mortgage until it's at about 50K and then paying it off with some money/investments.  Although, if at that point, I feel the market is hot I'd keep the money in investments. 

Some posters on this forum think it's a bad idea to pay down your mortgage because the rate is typically low.  I see that math, but I also want the peace of mind of true home ownership.
Yeah, I want the peace of mind that comes from having shit loads of money in investments. Paying off the mortgage before investing comes at a steep cost, long term. Sad that too few take the time to learn and understand the math.

BTW - There is no such thing as "true home ownership". There will always be taxes, utilities and maintenance. All three have a propensity to increase over time. Worrying about paying those in my old age because I didn't amass enough in my working years is a place I am unwilling to go.

ETA: This advice is not directed to anyone in the great, frozen North. I have little understanding of how things work in Canada. Could be completely different there ;-). I freely admit I know nothing significant about curling, either.

I also have a "shit load" of money in investments.  My wife and I rack up $4,200 in 403b contributions every month alone.  And we aggressively invest other dollars.  There's an argument to be made that paying off your mortgage can serve as the "bond" portion of your portfolio.  Especially for people on this thread who generally have lower priced homes.  No one here is saying people shouldn't first max out tax advantaged accounts and have a strong portfolio before paying off a house.

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #69 on: February 26, 2017, 09:22:11 AM »
Beginning Mortgage Debt This Month: $111,000
Paid Mortgage Debt This Month :  $1,000 
Ending Mortgage Debt : $110,000
Beginning Mortgage Debt This Month: $111,000
Paid Mortgage Debt This Month :  $2,000 
Ending Mortgage Debt : $109,000

Dicey

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #70 on: February 26, 2017, 01:48:28 PM »
Is there any advantage to paying the lender directly vs saving the money and paying it down in one lump sum?

Thanks-

All depends on your mortgage rate and balance, and what kind of return you think you can get investing to build your funds.  I plan on paying extra on my mortgage until it's at about 50K and then paying it off with some money/investments.  Although, if at that point, I feel the market is hot I'd keep the money in investments. 

Some posters on this forum think it's a bad idea to pay down your mortgage because the rate is typically low.  I see that math, but I also want the peace of mind of true home ownership.
Yeah, I want the peace of mind that comes from having shit loads of money in investments. Paying off the mortgage before investing comes at a steep cost, long term. Sad that too few take the time to learn and understand the math.

BTW - There is no such thing as "true home ownership". There will always be taxes, utilities and maintenance. All three have a propensity to increase over time. Worrying about paying those in my old age because I didn't amass enough in my working years is a place I am unwilling to go.

ETA: This advice is not directed to anyone in the great, frozen North. I have little understanding of how things work in Canada. Could be completely different there ;-). I freely admit I know nothing significant about curling, either.

I also have a "shit load" of money in investments.  My wife and I rack up $4,200 in 403b contributions every month alone.  And we aggressively invest other dollars.  There's an argument to be made that paying off your mortgage can serve as the "bond" portion of your portfolio.  Especially for people on this thread who generally have lower priced homes. No one here is saying people shouldn't first max out tax advantaged accounts and have a strong portfolio before paying off a house.

Yay for you for personally understanding where the horse goes. As to the bolded part, no, no, no! Far too few people understand this, because it simply isn't taught enough. It's also far more complex than "Kill all the debt", which is too simplistic. For some it also feels better faster because it takes a long time to realize the loss of compound interest gains. Many will never understand. They'll just feel the pinch of less money in  retirement or more working years, or both.

I am not saying it is "wrong". I just want people to understand that there are more effective ways to deploy their soldiers. Isn't that what we all aspire to do here?


NOTE - Very impressive savings dollars, CS! Pre-FIRE, I never achieved anywhere near that much on a steady basis. I was straight commission a lot of my career, therefore my deposits were, um, chunkier. If you're not CS (or FI), reading this and despairing, don't be discouraged. I only managed to squeak over 100k once in my whole career. I was self-employed at the time, so the  six-figure gross came with significantly higher SS taxes and operating costs, including self-paid healthcare. Ouch.

Achieving FIRE can be done on a lot less. Especially if you start saving and investing EARLY! Pay off the mortgage last and your future self will be amazed at your brilliance. Or not, it's up to you.

Finally, I step on this soap box repeatedly because I wish someone had sat my twenty-year-old self ass down and walked me through it using small enough words until I thoroughly understood. I could have hit FIRE at least a decade earlier, possibly more, as others have demonstrated.
I did it! I have a journal!
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jedsbud

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #71 on: February 28, 2017, 08:27:50 PM »
February 2017
Beginning Mortgage Debt This Month: $110,226
Paid Mortgage Debt This Month:  $3,105
Ending Mortgage Debt: $107,121

Record debt payment for this month.  I only started getting really interested in paying off/down the mortgage once I had maximized my retirement savings.  I am blessed with a good paying job and finally hit that mark last year as I put more effort into retirement. 

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #72 on: March 08, 2017, 06:44:36 PM »
Beginning Mortgage Debt This Month: $111,000
Paid Mortgage Debt This Month :  $2,000 
Ending Mortgage Debt : $109,000
Beginning Mortgage Debt This Month: $109,000
Paid Mortgage Debt This Month :  $1,000 
Ending Mortgage Debt : $108,000

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #73 on: March 16, 2017, 09:13:59 AM »
Beginning Mortgage Debt This Month: $109,000
Paid Mortgage Debt This Month :  $1,000 
Ending Mortgage Debt : $108,000

Beginning Mortgage Debt This Month: $109,000
Paid Mortgage Debt This Month :  $2,000 
Ending Mortgage Debt : $107,000

bender

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #74 on: March 16, 2017, 10:54:51 AM »
Beginning Mortgage Debt This Month: $148,000
Paid Mortgage Debt This Month :  $9,000
Ending Mortgage Debt : $139,000

Beginning Mortgage Debt This Month: $139,000
Paid Mortgage Debt This Month :  $9,000
Ending Mortgage Debt : $130,000

Beginning Mortgage Debt This Month: $130,000
Paid Mortgage Debt This Month :  $31,000
Ending Mortgage Debt : $99,000

Cash stash was too large and earning me next to nothing...  Feels good to be under 100k!

sovereign

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #75 on: March 22, 2017, 09:19:53 PM »
With all due deference to this thread, I'm going to work on paying off my mortgage since I suspect that the stock market may under-perform for the next few years.  I'd rather batten down the hatches, cut my interest paid dramatically, and be debt-free sooner.  My take is that a mortgage is the magic of compound interest working for the bank and against the borrower.

Just figured something out this evening.  By breaking your monthly mortgage payment into a weekly (1/4 payment) you can shave several years off your mortgage (and save many thousands in interest) paying the same amount.  Not sure why I have never thought of that before.

http://www.free-online-calculator-use.com/weekly-mortgage-payment-calculator.html

Current Mortgage Balance: $102,425

CheapScholar

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #76 on: March 24, 2017, 07:37:20 AM »
Still knocking off over $1,000 in principal every month.  Balance down to 116K.  My DW and I are contemplating increasing the curtailment to move even faster.  I agree with sovereign.  This market looks rather precarious.  I'm sure the mortgage payoff haters will chime in about stock market averages and yada yada yada.  If I make a few minor sacrifices I can own my house outright by my 40th birthday in 3.5 years. 

katsiki

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #77 on: March 24, 2017, 07:44:18 AM »
With all due deference to this thread, I'm going to work on paying off my mortgage since I suspect that the stock market may under-perform for the next few years.  I'd rather batten down the hatches, cut my interest paid dramatically, and be debt-free sooner.  My take is that a mortgage is the magic of compound interest working for the bank and against the borrower.

Just figured something out this evening.  By breaking your monthly mortgage payment into a weekly (1/4 payment) you can shave several years off your mortgage (and save many thousands in interest) paying the same amount.  Not sure why I have never thought of that before.

http://www.free-online-calculator-use.com/weekly-mortgage-payment-calculator.html

Current Mortgage Balance: $102,425

How are you doing this?  Just making weekly payments.  I don't think that works with all servicers since they won't apply the amounts until you hit a full payment.  My servicer allows 2 payments per month under their bi-weekly plan.  I probably need to set that up.
"busy eating lentils in a van by the river"

bender

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #78 on: March 24, 2017, 12:49:31 PM »
Still knocking off over $1,000 in principal every month.  Balance down to 116K.  My DW and I are contemplating increasing the curtailment to move even faster.  I agree with sovereign.  This market looks rather precarious.  I'm sure the mortgage payoff haters will chime in about stock market averages and yada yada yada.  If I make a few minor sacrifices I can own my house outright by my 40th birthday in 3.5 years.

I'm in the same boat generally.  It's not like the extra money that's not going to the market is getting blown. 

sovereign

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #79 on: March 24, 2017, 06:40:01 PM »
With all due deference to this thread, I'm going to work on paying off my mortgage since I suspect that the stock market may under-perform for the next few years.  I'd rather batten down the hatches, cut my interest paid dramatically, and be debt-free sooner.  My take is that a mortgage is the magic of compound interest working for the bank and against the borrower.

Just figured something out this evening.  By breaking your monthly mortgage payment into a weekly (1/4 payment) you can shave several years off your mortgage (and save many thousands in interest) paying the same amount.  Not sure why I have never thought of that before.

http://www.free-online-calculator-use.com/weekly-mortgage-payment-calculator.html

Current Mortgage Balance: $102,425

How are you doing this?  Just making weekly payments.  I don't think that works with all servicers since they won't apply the amounts until you hit a full payment.  My servicer allows 2 payments per month under their bi-weekly plan.  I probably need to set that up.
My mortgage company has an option to make additional principal payments on their website.  My wife makes the regular mortgage payment and I have been making the occasional extra principal payment.  Starting today, I'm making a weekly principal payment.

Breaking your mortgage payment into a weekly was just a theoretical, but now that I think about it the interest is still calculated monthly regardless if you are making weekly or bi-weekly payments so not very practical.  Extra principal payments make a big difference.  I decided to make it weekly every Friday so it just becomes a habit.
« Last Edit: March 24, 2017, 07:54:10 PM by sovereign »

jerseymark

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #80 on: March 25, 2017, 05:37:19 AM »
OK, I'll Join:
Beginning Debt this month: 129,060
Payment: 2850(includes interest)
Ending Balance: 126,515

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #81 on: March 25, 2017, 08:13:23 AM »
Beginning Mortgage Debt This Month: $109,000
Paid Mortgage Debt This Month :  $2,000 
Ending Mortgage Debt : $107,000

Beginning Mortgage Debt This Month: $109,000
Paid Mortgage Debt This Month :  $3,000 
Ending Mortgage Debt : $106,000

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #82 on: March 25, 2017, 08:26:06 AM »
Guys, there is a GRADUATION from MPC125 Club to MPC075 Club.  I already created the thread. 

Do drop us a note here when you are about to graduate so we can congratulate you ! :):)

CheapScholar

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #83 on: March 27, 2017, 12:56:42 PM »
But, Gardo, do we really WANT to graduate?  After all, we are a bunch of suckers for paying off our mortgages.  Having mortgage debt is just so freaking great, and it's clearly your way of screwing a bank for 30 years.  I don't even know how the banks stay in business since they clearly LOSE money on home loans!

Since mortgage debt is so great, I'm going to go buy a McMansion on a 30 year term.  Financial independence, here I come!

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #84 on: March 29, 2017, 07:16:16 PM »
But, Gardo, do we really WANT to graduate?  After all, we are a bunch of suckers for paying off our mortgages.  Having mortgage debt is just so freaking great, and it's clearly your way of screwing a bank for 30 years.  I don't even know how the banks stay in business since they clearly LOSE money on home loans!

Since mortgage debt is so great, I'm going to go buy a McMansion on a 30 year term.  Financial independence, here I come!
It just makes sense to put additional some extra money towards debt.  Others say invest it now and that works too. 

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #85 on: April 19, 2017, 08:12:32 PM »
Beginning Mortgage Debt This Month: $109,000
Paid Mortgage Debt This Month :  $3,000 
Ending Mortgage Debt : $106,000

Beginning Mortgage Debt This Month: $106,000
Paid Mortgage Debt This Month :  $1,000 
Ending Mortgage Debt : $105,000

Rcc

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  • Location: NC
Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #86 on: April 25, 2017, 08:42:32 AM »
Tossing my hat in the ring:

Mortgage Balance: $116,550
Mortgage Savings This Month: $4600
Mortgage Saving Account Balance: $66,500

* Going the savings then payoff route as just started a new gig this year. ETA for payoff Oct -Dec 2017, variability due to works bonus program.

Tick tock.

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #87 on: April 28, 2017, 05:44:17 PM »
Welcome to the MPC125 Rcamp!  That's a lot of savings you have there!  Congrats!  Don't forget to add the inflation (read: appreciation) of your house's market value. 

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #88 on: April 28, 2017, 05:45:28 PM »
Beginning Mortgage Debt This Month: $106,000
Paid Mortgage Debt This Month :  $1,000 
Ending Mortgage Debt : $105,000

Beginning Mortgage Debt This Month: $106,000
Paid Mortgage Debt This Month :  $2,000 
Ending Mortgage Debt : $104,000

Gardo

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Beginning Mortgage Debt This Month: $106,000
Paid Mortgage Debt This Month :  $2,000 
Ending Mortgage Debt : $104,000

Beginning Mortgage Debt This Month: $104,000
Paid Mortgage Debt This Month :  $1,000 
Ending Mortgage Debt : $103,000

sovereign

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Current Mortgage Balance: $102,425 [3/22/17]
Update:
Current Mortgage Balance: $99,172

Good to finally be under $100K. :)

Gardo

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Update:
Current Mortgage Balance: $99,172

Good to finally be under $100K. :)

CONGRATULATIONS FOR GRADUATING sovereign!

Please join the MPC75K. 

Gardo

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Beginning Mortgage Debt This Month: $104,000
Paid Mortgage Debt This Month :  $1,000 
Ending Mortgage Debt : $103,000
Beginning Mortgage Debt This Month: $104,000
Paid Mortgage Debt This Month :  $2,000 
Ending Mortgage Debt : $102,000

aperture

  • Bristles
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  • Posts: 397
  • Location: Colorado
Paying down mortgage before FI/RE to make a small withdrawal rate later:

Beginning Mortgage Debt This Month: $153,371 (sorry I cheated)
Paid Mortgage Debt This Month : $8487
Ending Mortgage Debt : $144,883

I game-ify the experience by setting goals and then working every two weeks with each new paycheck to beat the goal.  It is what passes for pleasure in my cubicle.  -ap
Able was I, ere I saw Elba.

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #94 on: June 20, 2017, 06:36:20 PM »
Beginning Mortgage Debt This Month: $104,000
Paid Mortgage Debt This Month :  $2,000 
Ending Mortgage Debt : $102,000

Beginning Mortgage Debt This Month: $102,000
Paid Mortgage Debt This Month :  $1,000 
Ending Mortgage Debt : $101,000

Congratulations to all for paying through the 1st Half of 2017!!

Gardo

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #95 on: June 22, 2017, 07:57:52 PM »
Beginning Mortgage Debt This Month: $102,000
Paid Mortgage Debt This Month :  $1,000 
Ending Mortgage Debt : $101,000

Congratulations to all for paying through the 1st Half of 2017!!

Bittersweet moment for me to leave you guys as I graduate to MPC075!!

Hope to see you there soon! :)

Beginning Mortgage Debt This Month: $102,000
Paid Mortgage Debt This Month :  $2,000 
Ending Mortgage Debt : $100,000

Rcc

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #96 on: July 15, 2017, 09:45:04 AM »
Tossing my hat in the ring:

Mortgage Balance: $116,900
Mortgage Savings This Month: $5000
Mortgage Saving Account Balance: $86600

? ->Going the savings then payoff route as was laid off late last year, and gratefully started a better paying new gig less than 2 months later.


aperture

  • Bristles
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  • Posts: 397
  • Location: Colorado
Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #97 on: July 16, 2017, 09:34:40 AM »
Paying down mortgage before FI/RE to make a small withdrawal rate later:

Beginning Mortgage Debt This Month: $153,371 (sorry I cheated)
Paid Mortgage Debt This Month : $8487
Ending Mortgage Debt : $144,883

I game-ify the experience by setting goals and then working every two weeks with each new paycheck to beat the goal.  It is what passes for pleasure in my cubicle.  -ap

Made progress since last post:
Mortgage debt now stands at $133,859 and I have a $3000 payment scheduled for payday on Friday.
Able was I, ere I saw Elba.

frizzywhiskers

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  • Location: Canada
Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #98 on: July 16, 2017, 10:29:22 AM »
I'm rather stoked to be able to jump in on this thread!

Starting Mortgage Debt :  $148,640
Paid Mortgage Debt This Month :  $9,000
Ending Mortgage Debt : $137,809

My mortgage actually began in Sept. 2013 at $435,000, but for this thread I'll start it this month.  I am so pumped to finally be on the home stretch!
« Last Edit: July 16, 2017, 10:31:59 AM by frizzywhiskers »

jerseymark

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Re: Mortgage Payment Club $125K : Starting current balance of $100K-$149K
« Reply #99 on: August 02, 2017, 04:30:59 AM »
OK, I'll Join:
Beginning Debt this month: 129,060
Payment: 2850(includes interest)
Ending Balance: 126,515

Update:
Beginning Debt this month: 89,171
Payment: 6454
Ending Balance: 82921