So I'm a newbie (almost a month now) but we've made many positive changes already and feeling good about where we're going. One of the first things I did was to make a spreadsheet listing out all of our expenses. I added our income to see what is remaining each month and then carried these fixed expenses and income over for 5 years to do a feasibility study of how long it might take to pay off our mortgage.
Here's the question ..
In my expense column I have our mortgage payment listed, however, included in our mortgage payments are our property taxes. So lets say we pay $2000 a month on our mortgage and $500 of that goes into the escrow account for property taxes.
In trying to see how many years it will take to payoff mortgage early, how do I factor out property taxes? (or do I?)