Author Topic: Mortgage Payment Club $75K : Starting current balance of $50K- $99K  (Read 18042 times)

bw_94

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #100 on: April 01, 2019, 11:38:34 AM »
Beginning Mortgage Debt This Month:  $58.0K
Paid Mortgage Debt This Month: $1K
Ending Mortgage Debt:  $57K

Continuing the grind - will be to $48k remaining on 1-1-2020.

Keep up the good work, all.

You too bw_94!  You're just rolling.  Great job!

Thanks! Keeping at it.

esmith2039

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #101 on: April 18, 2019, 12:06:36 PM »
New here but here's what we're working on.. After I realized we paid $2k in interest when the insurance was $1.2k and taxes $1k decided it was time!

Starting Mortgage Debt :  $65k

Beginning Mortgage Debt This Month: $41.7k
Paid Mortgage Debt This Month :  $3k
Ending Mortgage Debt : $38.9k !

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #102 on: April 18, 2019, 04:17:36 PM »
Hi esmth2039.

Feel free to join the Mortage Payoff Club since your balance of less than $50K is ripe for the payoff. 

I wonder what 2039 is about?  Retirement target year perhaps?  It seems too long to be a target mortgage completion given your balance.   :)

Cheers and congrats!
 
Gardo

esmith2039

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #103 on: April 19, 2019, 06:39:50 PM »
Hi esmth2039.

Feel free to join the Mortage Payoff Club since your balance of less than $50K is ripe for the payoff. 

I wonder what 2039 is about?  Retirement target year perhaps?  It seems too long to be a target mortgage completion given your balance.   :)

Cheers and congrats!
 
Gardo

Huh didnít see that thread at first thanks! That username was given randomly over 20 years ago and have used it ever since. But Iíll be 59 so could be when I retire or kick the bucket... hmm

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #104 on: May 21, 2019, 02:29:17 PM »
^Retiring at 59.  Sounds like a perfect plan.  I want to do that as well.  :)

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #105 on: May 21, 2019, 02:32:58 PM »
Beginning Mortgage Debt This Month:  $74K
Paid Mortgage Debt This Month (and past months not reported): $1K
Ending Mortgage Debt:  $73K

Beginning Mortgage Debt This Month:  $73K
Paid Mortgage Debt This Month (and past months not reported): $1K
Ending Mortgage Debt:  $72K

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #106 on: June 03, 2019, 12:46:52 PM »
Beginning Mortgage Debt This Month:  $73K
Paid Mortgage Debt This Month (and past months not reported): $1K
Ending Mortgage Debt:  $72K

Beginning Mortgage Debt This Month:  $72K
Paid Mortgage Debt This Month (and past months not reported): $1K
Ending Mortgage Debt:  $71K

bw_94

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #107 on: June 04, 2019, 09:03:57 AM »
Nice Gardo! Here's where I'm at:

Beginning Mortgage Debt This Month:  $56.0K
Paid Mortgage Debt This Month: $1.0K
Ending Mortgage Debt:  $55.0K

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #108 on: July 02, 2019, 06:18:25 AM »
Beginning Mortgage Debt This Month:  $71K
Paid Mortgage Debt This Month: $2K
Ending Mortgage Debt:  $69K

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #109 on: July 02, 2019, 06:20:33 AM »
Nice Gardo! Here's where I'm at:

Beginning Mortgage Debt This Month:  $56.0K
Paid Mortgage Debt This Month: $1.0K
Ending Mortgage Debt:  $55.0K

You too bw_94.   You are almost ready to graduate from this thread in 5 months or less.

bw_94

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #110 on: July 02, 2019, 08:13:33 AM »
Gardo, had a bad month in June. We had to replace a freezer, lawn mower, and pick up tools for some projects, new tires for a car, overall poor spending habits... Didn't keep pace on the mortgage paydown.

Beginning Mortgage Debt This Month:  $55.0K
Paid Mortgage Debt This Month: $250
Ending Mortgage Debt:  $54.75K


Will hope to hit it harder in July. Good luck to you!

edit: Great job on getting into the 60,000s!
« Last Edit: July 02, 2019, 01:07:29 PM by bw_94 »

AnxietyFly

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #111 on: July 10, 2019, 11:16:41 PM »
Beginning Mortgage Debt This Month:  $77K
Paid Principle This Month: $1700 (plan)
Ending Mortgage Debt:  $75K (plan)

Huskerfan

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #112 on: July 25, 2019, 07:08:17 PM »
Starting Mortgage Debt :  $90835

Beginning Mortgage Debt This Month: $90835
Paid Mortgage Debt This Month :  $2322
Ending Mortgage Debt : $89320

****Descriptive Text *****
$1500 off of principle

Need2Save

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #113 on: July 26, 2019, 07:20:18 AM »
Hello all. I was waiting for our July payment to clear to join this thread from the higher balance one.  I want to keep motivated to stay on our plan to pay off the remaining balance by the end of next year. 

Here is where we currently are:
Previous Mo. Balance:  $99,360
Princ Paid July: $4,778
New Mo. Balance: $94,582


We will be paying slightly more in August due to it being an extra check month for both of us.  Those are may fav. months!

Pizzabrewer

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #114 on: July 31, 2019, 11:30:50 AM »
Previous month's principal balance:  $85,254
Principal paid this month (minimum):  $483
Current principal balance:  $84,771

Interest rate:  2.75%

« Last Edit: July 31, 2019, 07:38:27 PM by Pizzabrewer »

AnxietyFly

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #115 on: August 03, 2019, 09:19:53 AM »
Beginning Mortgage Debt This Month:  $75K
Paid Principle This Month: $1700 (plan)
Ending Mortgage Debt:  $73k (plan)
« Last Edit: August 13, 2019, 09:39:04 PM by AnxietyFly »

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #116 on: August 13, 2019, 11:11:05 AM »
Welcome  to our new members AnxietyFly, Need2Save, and Huskerfan to this highly regarded exclusive MP75 Club!  Please enjoy your stay and let's keep at it!

Best wishes to all. 

MPC075 Members:
Gardo
KBecks
sneekeestache
Imma
Bigjones
UKstu2017
middo
allsummerlong
Greenback Reproduction Specialist
CharlesBronzee
Cheap Scholar
bw_94
Pizzabrewer
AnxietyFly
Huskerfan
Need2Save


Graduates may go to the Mortgage Payoff Club that is already existing. 

Graduates:
MangoAtPlay
indentured4now
gypsy79
Slow road to freedom
« Last Edit: August 13, 2019, 11:18:34 AM by Gardo »

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #117 on: August 13, 2019, 11:13:11 AM »
Gardo, had a bad month in June. We had to replace a freezer, lawn mower, and pick up tools for some projects, new tires for a car, overall poor spending habits... Didn't keep pace on the mortgage paydown.

Beginning Mortgage Debt This Month:  $55.0K
Paid Mortgage Debt This Month: $250
Ending Mortgage Debt:  $54.75K


Will hope to hit it harder in July. Good luck to you!

edit: Great job on getting into the 60,000s!

Thanks bw_94.  I do hope things turning around for you for the better!

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #118 on: August 13, 2019, 11:14:35 AM »
Beginning Mortgage Debt This Month:  $69K
Paid Mortgage Debt This Month: $2K
Ending Mortgage Debt:  $67K

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #119 on: August 13, 2019, 11:16:27 AM »
Hello all. I was waiting for our July payment to clear to join this thread from the higher balance one.  I want to keep motivated to stay on our plan to pay off the remaining balance by the end of next year. 

Here is where we currently are:
Previous Mo. Balance:  $99,360
Princ Paid July: $4,778
New Mo. Balance: $94,582


We will be paying slightly more in August due to it being an extra check month for both of us.  Those are may fav. months!

Ain't it a wonderful feeling to be in this group of less than 100K mortgage?  :)

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #120 on: August 13, 2019, 11:17:12 AM »
Previous month's principal balance:  $85,254
Principal paid this month (minimum):  $483
Current principal balance:  $84,771

Interest rate:  2.75%

Nice interest rate you got Pizzabrewer!

AnxietyFly

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #121 on: August 13, 2019, 09:39:39 PM »
Thanks!

Welcome  to our new members AnxietyFly, Need2Save, and Huskerfan to this highly regarded exclusive MP75 Club!  Please enjoy your stay and let's keep at it!

Best wishes to all. 

MPC075 Members:
Gardo
KBecks
sneekeestache
Imma
Bigjones
UKstu2017
middo
allsummerlong
Greenback Reproduction Specialist
CharlesBronzee
Cheap Scholar
bw_94
Pizzabrewer
AnxietyFly
Huskerfan
Need2Save


Graduates may go to the Mortgage Payoff Club that is already existing. 

Graduates:
MangoAtPlay
indentured4now
gypsy79
Slow road to freedom

Huskerfan

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #122 on: August 20, 2019, 06:52:54 PM »
Starting Mortgage Debt :  $90835

Beginning Mortgage Debt This Month: $90835
Paid Mortgage Debt This Month :  $2322.68
Ending Mortgage Debt : $87,799.24

****Descriptive Text *****
$1520 off of principle

AnxietyFly

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #123 on: August 22, 2019, 05:19:00 AM »
I made the hard decision to put the payoff activity on hold until 2020.  The good news is that I will be saving and accumulating the same amount. This will be placed into a savings account to hopefully make a large payment January 1st. The reason for the change is because I have some risk right now and feel like the additional amount in the savings account is a good way to mitigate the risk.

Need2Save

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #124 on: August 23, 2019, 06:33:28 AM »
@Gardo - why yes it is wonderful, thanks!  I hope my stay is short though. Onward we go.

Previous Mo. Balance:  $94,582
Princ Paid August: $7,289*
New Mo. Balance: $87,292

*Used some extra funds from our 3rd check this month. 
« Last Edit: August 23, 2019, 06:47:23 AM by Need2Save »

Huskerfan

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #125 on: September 04, 2019, 08:27:48 PM »
Starting Mortgage Debt (July 2019) :  $90,835.26. (Not total mortgage... that was around $179k)

Beginning Mortgage Debt This Month: $87,799.24
Paid Mortgage Debt This Month :  $2622.68
Ending Mortgage Debt : $85,974.11

****Descriptive Text *****
$1825.13 off of principle

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #126 on: September 09, 2019, 10:28:53 AM »
I made the hard decision to put the payoff activity on hold until 2020.  The good news is that I will be saving and accumulating the same amount. This will be placed into a savings account to hopefully make a large payment January 1st. The reason for the change is because I have some risk right now and feel like the additional amount in the savings account is a good way to mitigate the risk.

Smart decision to use savings to your advantage (mitigate risk that may lead to incur higher cost).  Great job AnxietyFly!

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #127 on: September 09, 2019, 10:29:53 AM »
@Gardo - why yes it is wonderful, thanks!  I hope my stay is short though. Onward we go.

Previous Mo. Balance:  $94,582
Princ Paid August: $7,289*
New Mo. Balance: $87,292

*Used some extra funds from our 3rd check this month.

Dang!  I'm jealous in a good way.  Keep it going Need2Save!

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #128 on: September 09, 2019, 10:32:35 AM »
Starting Mortgage Debt (July 2019) :  $90,835.26. (Not total mortgage... that was around $179k)

Beginning Mortgage Debt This Month: $87,799.24
Paid Mortgage Debt This Month :  $2622.68
Ending Mortgage Debt : $85,974.11

****Descriptive Text *****
$1825.13 off of principle

Awesome to see the amount taken off from principle and what a big amount that is!  Nice job Huskerfan!

Gardo

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #129 on: September 09, 2019, 10:36:56 AM »
Inspired to pay additional as I take some profits off from stock market and apply to the principal.  This being the market at close to all-time high.

Beginning Mortgage Debt This Month:  $67K
Paid Mortgage Debt This Month: $4K
Ending Mortgage Debt:  $63K

bw_94

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #130 on: October 01, 2019, 01:15:50 PM »
Beginning Mortgage Debt This Month:  $53.0K
Paid Mortgage Debt This Month: $2.0K
Ending Mortgage Debt:  $51.0K

Caught up this month to my goal and am now on pace to hit $48.0k remaining on 1-1-2020. At that point, I'll probably slow down on the pay-off and try to invest more into the market. Maybe I'll shoot for only $6.0k in principal paydown for 2020, rather than $12.0k.

Otherwise, keep up the good work everyone!

Need2Save

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #131 on: October 01, 2019, 06:01:45 PM »
Oh happy day!  Monthly interest is now down to just ~$200/month. Wonderful!  I remember not that long ago it was near $1,200 a month.

Starting balance: $87,293
Princ Paid Sept: $5,106
New balance:  $82,187

Three payments left this year. On target to get to around $67k by then.

Huskerfan

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #132 on: October 02, 2019, 06:52:50 PM »
Oh happy day!  Monthly interest is now down to just ~$200/month. Wonderful!  I remember not that long ago it was near $1,200 a month.

Starting balance: $87,293
Princ Paid Sept: $5,106
New balance:  $82,187

Three payments left this year. On target to get to around $67k by then.

You are cruising!  Very nice

bw_94

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #133 on: October 03, 2019, 05:46:25 AM »
Oh happy day!  Monthly interest is now down to just ~$200/month. Wonderful!  I remember not that long ago it was near $1,200 a month.

Starting balance: $87,293
Princ Paid Sept: $5,106
New balance:  $82,187

Three payments left this year. On target to get to around $67k by then.

You are cruising!  Very nice


No kidding, he really is.

Good work!

Huskerfan

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #134 on: October 04, 2019, 08:39:08 AM »
Starting Mortgage Debt (July 2019) :  $90,835.26. (Not total mortgage... that was around $179k)

Beginning Mortgage Debt This Month: $85,974.11
Paid Mortgage Debt This Month :  $2322.68
Ending Mortgage Debt : $84,443.28

****Descriptive Text *****
$1530.83 off of principle
I project hitting $75k by April 2020

Vashy

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #135 on: October 04, 2019, 11:02:58 AM »
Starting Mortgage Debt:  £92,500 (I didn't want to do the FX, but I figure sterling counts)

Beginning Mortgage Debt This Month: £96,850 (this is August - haven't processed my overpayment yet)
Paid Mortgage Debt This Month :  £4,350
Ending Mortgage Debt : £92,500 (as of 30 September)

Other stats: This is versus a starting balance of £109,000 in January 2019, and an original loan amount of £200,000 (house value has since doubled). Monthly payments are circa £550, circa £180 of that is interest. We can fairly comfortably sink about £1,800 into it (tax-advantaged savings are on track).

MMM lit a fire under my haunches when I discovered his blog in mid-September, and I crunched the numbers on the mortgage, which is our last outstanding debt. I crushed debt for the past three years and now can start to swim free, so while the mortgage rate is super low (2.49% on a tracker, which means once the BoE cuts the bank rate by 25bp, it'll go down further), I abhor debt in all shapes, forms and colours and want to be rid of it.

I've always made slight overpayments - we already saved seven years on this 30-year mortgage, but with both our salaries pretty good and having avoided the usual large money sinks (ie children, cars, brand fashion, alcohol, gambling or drugs), there's a lot of free cash sloshing around the household, and I figured out that we can kill this debt in 2-3 years if we keep a tight rein on incidentals and don't get stupid about quitting our jobs too soon (we're both 44 and basically at peak earnings). And MMM inspired me to really speed up the process overall, so I've run a couple scenarios and the most optimistic means we kill this in 24 months, and 36 months would account for stuff like job losses or big renovations. My partner pretty much leaves financial planning to me but he's all in after I told him we can retire in comfort at 50 if we stay focused.

So I'm glad to be here with fellow travellers and able to talk about numbers because most people in my "real life" don't care.
« Last Edit: October 04, 2019, 11:18:21 AM by Vashy »

Vashy

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Re: Mortgage Payment Club $75K : Starting current balance of $50K- $99K
« Reply #136 on: October 05, 2019, 12:59:30 PM »
Starting Mortgage Debt:  £92,500

Beginning Mortgage Debt This Month: £92,500
Paid Mortgage Debt This Month:  £1,200
Ending Mortgage Debt: £91,300 (as of 5 October, planning to make another overpayment on 25 October after I got paid)