Author Topic: Mortgage Payment Club $75K : Starting current balance of $50K- $99K  (Read 2351 times)

Gardo

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Hi guys,

I'm looking for folks to share mortgage payment journey with similar situation. 

To be a member of the Club, which we can shorten to MPC075, the requirement is :

YOUR CURRENT MORTGAGE PRINCIPLE BALANCE MUST BE BETWEEN $50K-$99k.   

This gives Club members a better bonding experience as we belong in the same similar range of debt VS people who either have bigger or smaller debt.

The Required First Post should follow this pattern: 


Starting Mortgage Debt :  $ (must be between $50K-$99K)

Beginning Mortgage Debt This Month: $
Paid Mortgage Debt This Month :  $
Ending Mortgage Debt : $

****Descriptive Text *****



MangoAtPlay

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #1 on: March 25, 2017, 07:57:31 PM »
We started 2017 owing $56,000 and pay $2,000/month.

Starting Mortgage Debt:  $56,000

Beginning Mortgage Debt This Month:  $52,000
Paid Mortgage Debt This Month:  $2,000
Ending Mortgage Debt:  $50,000       

This mortgage and our VISA ($4,400) are our only debt.  Looking forward to getting both paid off!

KBecks

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #2 on: March 30, 2017, 04:25:45 PM »
Ok, this is my cohort.

Current mortgage balance, $70,390 after April payment.

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #3 on: April 02, 2017, 10:16:00 AM »
We started 2017 owing $56,000 and pay $2,000/month.

Starting Mortgage Debt:  $56,000

Beginning Mortgage Debt This Month:  $52,000
Paid Mortgage Debt This Month:  $2,000
Ending Mortgage Debt:  $50,000       

This mortgage and our VISA ($4,400) are our only debt.  Looking forward to getting both paid off!

Welcome to the Club.   Also ....
Congratulations and HAPPY Graduation!   You are our first Graduate here on this Club.    Feel free to join the Payoff club thread, if you haven't yet! 

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #4 on: April 02, 2017, 10:17:28 AM »
Ok, this is my cohort.

Current mortgage balance, $70,390 after April payment.

Glad you joined the Club!  Hoping to join you in about 2 months. :)

KBecks

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #5 on: April 20, 2017, 11:26:18 AM »
Ok, this is my cohort.

Current mortgage balance, $70,390 after April payment.
slight math error last time - here we go

BALANCE - $71,378.
Paying approx - $5,830.
NEW BALANCE approx - $65,548

**approx months to payoff -- 11**  target payoff month - March 2018.

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #6 on: June 22, 2017, 08:04:46 PM »
Well here I am, soon to be the NEWEST member of MPC075.  It is as privileged as we can get prior to the Payoff Club. 

Beginning Mortgage Debt This Month:  $100K
Paid Mortgage Debt This Month: $0K
Ending Mortgage Debt:  $100K


« Last Edit: June 22, 2017, 08:07:05 PM by Gardo »

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #7 on: June 28, 2017, 06:35:47 PM »
Well here I am, soon to be the NEWEST member of MPC075.  It is as privileged as we can get prior to the Payoff Club. 

Beginning Mortgage Debt This Month:  $100K
Paid Mortgage Debt This Month: $0K
Ending Mortgage Debt:  $100K

Hi guys, MADE IT! 

It's official.  I am now a Bona Fide member of the prestigious MPC075 Club!  Hope to gain friends here.

Beginning Mortgage Debt This Month:  $100K
Paid Mortgage Debt This Month: $1K
Ending Mortgage Debt:  $99K

indentured4now

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #8 on: July 09, 2017, 05:53:57 AM »
Just a bit over $101K, but on track to get below $100K in Aug... submitting my application to join this club soon!

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #9 on: July 21, 2017, 10:21:47 AM »
Hi guys, MADE IT! 

It's official.  I am now a Bona Fide member of the prestigious MPC075 Club!  Hope to gain friends here.

Beginning Mortgage Debt This Month:  $100K
Paid Mortgage Debt This Month: $1K
Ending Mortgage Debt:  $99K

Beginning Mortgage Debt This Month:  $99K
Paid Mortgage Debt This Month: $1K
Ending Mortgage Debt:  $98K

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #10 on: July 21, 2017, 10:22:22 AM »
Just a bit over $101K, but on track to get below $100K in Aug... submitting my application to join this club soon!

Application received! :)

sneekeestache

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #11 on: July 25, 2017, 04:27:22 PM »
I'd like to join.

Beginning of the year mortgage debt:  $86,309

Beginning Mortgage Debt This Month:  $81,454
Paid Mortgage Debt This Month: $728.33
Ending Mortgage Debt:  $80,726

We try to pay at least $1000 on the principal but just didn't make it for August's payment. We'll get it next month.

Imma

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #12 on: July 27, 2017, 03:15:28 PM »
I'm in!

Starting Mortgage Debt :  77.900

Beginning Mortgage Debt This Month: 74.337,79
Paid Mortgage Debt This Month :  158,39
Ending Mortgage Debt : 74.179.40

Purchase price of house: 79.500 (in 2015, when the economy was still recovering from the triple dip)
Current estimated value: 88.950 (massive housing boom and we own an affordable starter home in a childfriendly area)

Right now, we are paying only the regular monthly payments, but my partner and I have decided we'll start to pay extra on our mortgage soon. While we like to invest our money as well, we don't want to put all of our eggs in the same basket. Even though the interest is low, we feel we need the security of owning our home outright (eventually). We have a lower income than most people on this forum and we're from a low-income background, we have seen people lose their homes through accidents of life because they didn't pay off the mortgage while they could. That's what we want to avoid.

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #13 on: July 30, 2017, 09:25:41 PM »
Welcome sneekeestache and Imma to the prestigious MPC075.  Hope you enjoy your stay!

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #14 on: July 30, 2017, 09:27:09 PM »
Beginning Mortgage Debt This Month:  $99K
Paid Mortgage Debt This Month: $1K
Ending Mortgage Debt:  $98K

Beginning Mortgage Debt This Month:  $99K
Paid Mortgage Debt This Month: $2K
Ending Mortgage Debt:  $97K

gypsy79

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #15 on: July 31, 2017, 08:23:55 AM »
Starting Mortgage Debt: Made it to $94k on May 1

Beginning Mortgage Debt This Month: $86k
Paid Mortgage Debt This Month: $3k
Ending Mortgage Debt: $83k

This is our only debt--can't wait to pay it off!

Imma

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #16 on: July 31, 2017, 09:44:07 AM »
I'm in!

Starting Mortgage Debt :  77.900

Beginning Mortgage Debt This Month: 74.337,79
Paid Mortgage Debt This Month :  158,39
Ending Mortgage Debt : 74.179.40 

Made the regular payment for August today. We might do an extra payment later this month. 

Beginning Mortgage Debt This Month: 74.179,40
Paid Mortgage Debt This Month :  158,68
Ending Mortgage Debt : 74.020,72

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #17 on: August 16, 2017, 05:46:01 PM »
Starting Mortgage Debt: Made it to $94k on May 1

Beginning Mortgage Debt This Month: $86k
Paid Mortgage Debt This Month: $3k
Ending Mortgage Debt: $83k

This is our only debt--can't wait to pay it off!

gypsy79, Welcome to the Club!  Enjoy your stay!

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #18 on: August 16, 2017, 05:47:20 PM »
Beginning Mortgage Debt This Month:  $99K
Paid Mortgage Debt This Month: $2K
Ending Mortgage Debt:  $97K

Beginning Mortgage Debt This Month:  $97K
Paid Mortgage Debt This Month: $1K
Ending Mortgage Debt:  $96K

Bigjones

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #19 on: August 23, 2017, 12:13:52 PM »
Is this group very active?

Starting Mortgage Debt :  $72466.55

Beginning Mortgage Debt This Month: $72466.55
Paid Mortgage Debt This Bi Month Period :  $1495
Ending Mortgage Debt : $70991.55


Im unsure if i can keep this up by my intent is to pay $1400ish bi weekly on my mortgage and get this thing paid off ASAP.

Imma

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #20 on: August 24, 2017, 10:07:18 AM »
Is this group very active?

Starting Mortgage Debt :  $72466.55

Beginning Mortgage Debt This Month: $72466.55
Paid Mortgage Debt This Bi Month Period :  $1495
Ending Mortgage Debt : $70991.55


Im unsure if i can keep this up by my intent is to pay $1400ish bi weekly on my mortgage and get this thing paid off ASAP.

It's not very active as of yet, but I joined last month so we can make it active again!
I think many people on here would rather put money in investments rather than paying off a relatively small mortgage (compared to their income).

$2800 a month is an ambitious target! But good luck. Even when you don't make it to that $1400 every two weeks, all the money you put in is money you'll never have to pay interest for again.

UKstu2017

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #21 on: August 24, 2017, 10:35:44 AM »
How the exchange rate has equalised things, my '' denomination is close enough, I think...

Starting mortgage debt @ now: 71,000
Payment due this month: 1,275

Balancing investment into tax free wrappers and trying to get rid of this mortgage. At present, pumping 4K+ each month into tax free savings, so this is taking a back seat...
I really want to do things other than work... :-)

Bigjones

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #22 on: August 24, 2017, 01:52:32 PM »
Very ambitious, and im not putting expectations on myself.  If i COULD keep it up, i could have this paid off in roughly 25-26months.  We will see what happens.




Is this group very active?

Starting Mortgage Debt :  $72466.55

Beginning Mortgage Debt This Month: $72466.55
Paid Mortgage Debt This Bi Month Period :  $1495
Ending Mortgage Debt : $70991.55


Im unsure if i can keep this up by my intent is to pay $1400ish bi weekly on my mortgage and get this thing paid off ASAP.

It's not very active as of yet, but I joined last month so we can make it active again!
I think many people on here would rather put money in investments rather than paying off a relatively small mortgage (compared to their income).

$2800 a month is an ambitious target! But good luck. Even when you don't make it to that $1400 every two weeks, all the money you put in is money you'll never have to pay interest for again.

KBecks

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #23 on: August 26, 2017, 09:05:18 AM »
July balance $57, 947
August Principal paydown $1067
August balance $56,880

We are going much slower due to reduced income and higher spending at home.  Still working on it though.  Is there an under $50k club?  We might join that around the New Year.  Hoping to increase income to pay down more.

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #24 on: August 30, 2017, 01:59:16 PM »
Please welcome our new members Bigjones and UKstu2017!  Hope you enjoy your stay to the MPC075 Club!

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #25 on: August 30, 2017, 02:00:49 PM »
It's not very active as of yet, but I joined last month so we can make it active again!
I think many people on here would rather put money in investments rather than paying off a relatively small mortgage (compared to their income).

That is a great way to put it Imma!

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #26 on: August 30, 2017, 02:03:20 PM »
Beginning Mortgage Debt This Month:  $97K
Paid Mortgage Debt This Month: $1K
Ending Mortgage Debt:  $96K

Beginning Mortgage Debt This Month:  $97K
Paid Mortgage Debt This Month: $2K
Ending Mortgage Debt:  $95K

Imma

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #27 on: September 03, 2017, 05:31:24 AM »
I'm in!

Starting Mortgage Debt :  77.900

Beginning Mortgage Debt This Month: 74.337,79
Paid Mortgage Debt This Month :  158,39
Ending Mortgage Debt : 74.179.40 

Made the regular payment for August today. We might do an extra payment later this month. 

Beginning Mortgage Debt This Month: 74.179,40
Paid Mortgage Debt This Month :  158,68
Ending Mortgage Debt : 74.020,72

The regular payment for September:

Beginning mortgage debt this month: 74.020.72
Paid mortgage debt this month: 158,98
Ending mortgage debt this month: 73.861.76

We didn't pay extra last month as we're in the process of refinancing our mortgage to a lower interest percentage. We currently pay 2,25% and we have an offer for 1,3%. We want to keep the monthly payment at the same level (300) which means that we'll actually pay off about 35 more towards the principal every month. On top of that, once we've paid off a small tax debt we still have (in Dec) we'll put that money towards the mortgage too. All in all that means that from January we'll pay off double of what we pay off now.

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #28 on: September 03, 2017, 09:28:55 AM »
Beginning Mortgage Debt This Month:  $97K
Paid Mortgage Debt This Month: $2K
Ending Mortgage Debt:  $95K

Beginning Mortgage Debt This Month:  $95K
Paid Mortgage Debt This Month: $1K
Ending Mortgage Debt:  $94K

gypsy79

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #29 on: September 07, 2017, 02:25:35 PM »
Forgot to post on August 31.

Starting Mortgage Debt: Made it to $94k on May 1

Beginning Mortgage Debt This Month: $83k
Paid Mortgage Debt This Month: $4k
Ending Mortgage Debt: $79k

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #30 on: September 10, 2017, 09:23:26 AM »
Forgot to post on August 31.

Starting Mortgage Debt: Made it to $94k on May 1

Beginning Mortgage Debt This Month: $83k
Paid Mortgage Debt This Month: $4k
Ending Mortgage Debt: $79k

gypsy79 you're rockin it!

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #31 on: September 10, 2017, 09:25:13 AM »
Beginning Mortgage Debt This Month:  $95K
Paid Mortgage Debt This Month: $1K
Ending Mortgage Debt:  $94K

Beginning Mortgage Debt This Month:  $94K
Paid Mortgage Debt This Month: $1K
Ending Mortgage Debt:  $93K

gypsy79

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #32 on: September 11, 2017, 03:53:44 PM »

Bigjones

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #33 on: September 17, 2017, 08:54:25 AM »
Starting Mortgage Debt :  $72466.55

Beginning Mortgage Debt This Month: $70991.55
Paid Mortgage Debt This Bi Month Period :  $1272
Ending Mortgage Debt : $69719.55