My mortgage company seems to be having processing problems. I received a letter saying our Jan payment was missing --- um, no, it's not. I have not received a statement and payment slip for February, and it's not on line either so I can't print it out. Blah. What the heck?
But we're current. I am going to set us up for automatic payments with extra principal, and I'm just trying to figure out how much per month we should throw at it automatically -- between 500 and 800 a month extra. The time difference is 3 years to payoff vs. 2.5 years to payoff -- is it really that big of a deal? May go a little faster as more and more goes to principal over time.
I am not happy that my mortgage company seems to be floundering. Our current balance is $52,576. We will be either 50 or 51 at payoff if we accelerate payments.... more like 5 years if we don't pay extra.
It may be good to set it and forget it, although in the past year, I was scraping together as much as I could every month to throw at the beast.