Mortgage Payment Club $75K : Starting current balance of $50K- $99K

[Gardo]

Sorry I have been out of country and enjoying much needed R&R.  Hey, that's part of why I save.  :)

Welcome  our new member Vashy to this extravagantly lavish and exclusive MP75 Club!  Please make yourself feel at home! 

Also, CONGRATS to our latest graduate bw_94! 

Best wishes to all.   And HAPPY HOLIDAYS!

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


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

Graduates:
MangoAtPlay
indentured4now
gypsy79
Slow road to freedom
bw_94

[Gardo]

Beginning Mortgage Debt This Month:  $63K
Paid Mortgage Debt This Month: $4K  (really captures 2.5 months worth due to failure to post  :))
Ending Mortgage Debt:  $59K

[Gardo]

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!

First off, again, congrats on this MAJOR achievement bw_94!  Sorry I wasn't able to greet you earlier.

How do you feel finally getting down under $50K? 

[Gardo]

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.

I enjoy reading your post and it shows your drive (along with your partner).   I also laughed with your last statement because all of my "real live" people also do not care of savings, hence, am here.  :)

Happy saving and welcome Vashy!

[Gardo]

middo, Huskerfan, Need2Save - you guys are inspiring everyone here

CheapScholar - congrats on your new job!  I agree, not everything is all dollars and cents and taking a pay cut for an overall better job is a great move. 

[bw_94]

First off, again, congrats on this MAJOR achievement bw_94!  Sorry I wasn't able to greet you earlier.

How do you feel finally getting down under $50K?

Thanks, Gardo! I've been waiting patiently to hear from you. Glad you were able to enjoy your trip.

It's a really good feeling. The wife and I started off owing $84k in September of 2017, and currently owe $48k after a little over two years (27 months). So, we'll keep at it and plan to pay off about $6k per year until we decide to move. It's really nice being able to "store" some equity in something other than stocks/bonds.

Anyway, I wish continued good luck in 2020 to everyone!

[middo]

So, moving interstate hasn't helped the finances at all.  Current situation for July is:

Beginning of month: $90 900
Paid Mortgage Debt This Month: $ 3900
Ending Mortgage Debt:  $87 000

Note that this is still a loooong way above where I was.  And renovations start in 10 days time!  I'll try to report to keep myself honest.

So, 16 month later and renovations haven't helped the pay down of our HELOC.  However, a few updated numbers:

1st September 2019 - $ 99,000 owing
1st October 2019 - $ 99,00 owing
1st November 2019 - $ 88,000 owning.

We put our tax return (mostly) into the HELOC, hence the big drop in late October.  Hoping to put about $1500 into it each month from now on.  I will try to report in to keep myself honest.  Renovations will mean that some months go backwards as we pay for larger items.

1st December will be $85,800

Reduced by $2200.

1st Jan 2020 balance $84 000

Reduction this month $1800.

[Huskerfan]

Completely forgot to post...
Starting Mortgage Debt (July 2019) :  $90,835.26. (Not total mortgage... that was around $179k)

Beginning Mortgage Debt This Month: $81,165.69
Paid Mortgage Debt This Month :  $2322.68
Ending Mortgage Debt : $79,619.83

****Descriptive Text *****
$1545.86 off of principle
I project hitting $75k by April 2020

[Bigjones]

This thread is really keeping me motivated by reading about everyones success.  We have a very lofty goal of 12 months from now paying off our mortgage as we have been posting on here for a bit now.  We are down to 59.9k and tossing on a min of 2k every other week while trying to live on one income and tossing bonuses, tax returns and a 10k anticipated bonus come this summer on it as well.  I love reading about everyone working hard to rid themselves of worry. 

[CheapScholar]

Thanks, Gardo and everyone else for keeping this thread going and for motivating one another.

I have my balance down to 61k.  We paid off 20k in December because our checking account balance got too high for comfort.  While I took a significant pay cut 18 months ago, my wife just recently received a very well earned promotion that brings her pay from 42k to 72k.  We now have a household income of 152k.

I turn 40 in about 9 months.  We can conceivably pay off the mortgage by then if we get really serious.  Honestly though, I don’t feel rushed.  Still maxing out retirement accounts and the mortgage will be gone within 9-18 months depending on how low we want to bring the checking account/emergency fund.

I’ve saved all of my monthly mortgage statements.  Should provide plenty of fuel for a fire in the backyard when I finally cross the finish line.

[Need2Save]

CheapScholar - I'm planning a nice backyard bonfire with our mortgage statements too!  I had been seriously culling old statements for most of our bills and converting to e-bills, but I've been holding on to those for the enjoyment of watching them burn when we pay off the mortgage this year.  It's going to be glorious.  The bank keeps emailing me urging me to convert to e-bill, but I want those last few paper bills just for the satisfaction.

I also wanted to say that a promotion taking your wife from around 42K to 72K is awesome!  Not many people see that kind of bump at once so good on her.  I can understand you evaluating maybe taking the foot of the pedal since the end is within reach.  We thought about that too, but I'm just anxious to be done with it this year. We still save easily double what we send to the mortgage so I'm not sacrificing our other saving goals.

[CheapScholar]

Thanks, Need2Save. I myself do an autopay out of my bank account but still elected to get the paper statements every month in the mail.  This keeps me motivated, and I like to see how much less interest I pay each month.  I keep all of the old paper statements on the lower shelf of my nightstand as a reminder that I owe people a shit ton of money.

INTERESTINGLY, I checked my mailbox a few days ago and guess what I saw?  A delinquency notice from the mortgage company saying I did not make my Jan 1st payment.  Yup, I made two additional principal payments online in December for a total of $20,000 and I got a fucking delinquency letter.  Obviously, I was irate.  My wife and I went to the credit union the next morning and got it all straightened out.  The credit union, where we have our mortgage, basically outsources all of their mortgage stuff and we needed to call that company with our credit union person.  Basically, the mortgage side has shitty software and the added principal payment for some reason stopped the autopayment.  We got it all straightened out.  Got the late fees removed and made sure all of our added payments went against the principal.  It only took maybe 15 minutes but such a hassle. 

At the end of the conversation, the credit union person asked me if she’d like to shred the pink colored delinquency notice.  I told her I wanted to keep it and burn it at my mortgage burning party with all of my other mortgage docs this fall and that I’d be seeing her in 9 months or so to arrange the final payoff wire transfer. 

[Gardo]

I’ve saved all of my monthly mortgage statements.  Should provide plenty of fuel for a fire in the backyard when I finally cross the finish line.

ROFL

[Gardo]

Beginning Mortgage Debt This Month:  $59K
Paid Mortgage Debt This Month: $1K 
Ending Mortgage Debt:  $58K

Speaking of foot off the pedal, I am gingerly easing on it.  Now that I reached below $60K, my goal is a simple $1K per month. 

I want to enjoy some of what would otherwise be mortgage principal payments on touring - Asia, Latin America and Europe!

[Gardo]

CheapScholar - I'm planning a nice backyard bonfire with our mortgage statements too!  I had been seriously culling old statements for most of our bills and converting to e-bills, but I've been holding on to those for the enjoyment of watching them burn when we pay off the mortgage this year.  It's going to be glorious.  The bank keeps emailing me urging me to convert to e-bill, but I want those last few paper bills just for the satisfaction.

Now I wish I had saved the past 10+ years' paper bills.   :) 

[Gardo]

To all, other than the bonfires, how do you plan to celebrate your mortgage jail sentence freedom?

[CheapScholar]

To all, other than the bonfires, how do you plan to celebrate your mortgage jail sentence freedom?

I’ve been thinking about this lately, as I’m 9-13 months away.  Most people celebrate big accomplishments by going out to a nice dinner.  But, if you’re celebrating paying off your house, doesn’t it make sense to celebrate at your HOUSE?  I’m thinking some lobster, nice cuts of meat, good bottle of wine.  Maybe I can have a cake made with a house design on it?

I also think about changes I’d like to make once the mortgage is gone.  No matter how frugal you are, killing the mortgage frees up a ton of money.  We are due for one of our big vacations in 2021, so the money will be nice.  I also think I’d like to go out to eat more regularly.  We almost never eat out, maybe a few times a year as a family.  My wife and are both about 40, work full time jobs and raise a 10 year old together.  I don’t so much mind the cooking, but the cleaning of pots and pans is just getting really old.  I’d like to go out once a week to local restaurants, especially if we can get the good weekday deals that some offer.

[middo]

We just withdrew $10,000 out of ours, so it is a little further away again.  It is the last significant withdrawal out of it that I forsee, as I knew we would take this out as some stage.  We were basically holding some money in trust for our daughter, where she couldn't spend it and it helped us a bit with our interest payments.  i'll update at the end of the month.

But celebrations for us would probably be a bottle of Aldi french champagne.  And a good meal at home. 

[Huskerfan]

Very nice, everyone. It is neat to watch everyone's balances go down, down, down.

I did not plan to send more than about $500 extra this time, but then got a bonus at work and was able to apply it. Things have been going so incredibly smoothly that I keep wondering when the other shoe is going to drop. Hopefully it will not drop until after the mortgage is paid off. ;-)

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

Beginning Mortgage Debt This Month: $64k
Paid Mortgage Debt This Month: $6k
Ending Mortgage Debt: $58k

Very nice!!! I don’t get bonuses, so it’s usually steady payoff on my end.   Great to see chunks like this though. 

[Huskerfan]

Starting Mortgage Debt (July 2019) :  $90,835.26. (Not total mortgage... that was around $179k)

Beginning Mortgage Debt This Month: $79,619.83
Paid Mortgage Debt This Month :  $2522.68
Ending Mortgage Debt : $77,869.14

****Descriptive Text *****
$1750.69 off of principle
I project hitting $75k by April 2020


Somewhat (not really) interesting story:
I don’t get to chat too often with peeps about my financial situation, and mostly I won’t go into details because I find that some start judging you for whatever reason.  When they find out you pay extra on your mortgage or max your TSP account, they give you “a look”.  So I don’t normally mention it.  However, I am in the middle of a professional class (been here for about 4 weeks). Got into a long conversation about TSP with a few peeps and basically ended up giving a block of instruction on it for everyone when we had free time. Everyone was interested in learning more about getting your dollars to work for you. 

After all of that I had someone I’ve been chatting with ask about my house, and if I’d move closer to work (just recently found out I’ll be moving work locations which is a longer drive). I told them we are close to paying off the house now, so moving isn’t really in the plans.  She was taken aback a little as she remembered me buying the house a handful of years ago.  She asked about that, and I admitted we’ve been tossing money at it.  She looked a bit shocked that we should have it paid off in 10 years total.  Then said she’ll have to chat more with me in the future about this stuff.  Looks like I got through to at least a few people this time.

As for plans: the wife and I developed another plan to rearrange a bit of money so that we can go even more aggressive the final year.  We are looking at making the final payment in three years rather than four. That plan will hatch likely in the final year of payment. :)

[middo]

So, moving interstate hasn't helped the finances at all.  Current situation for July is:

Beginning of month: $90 900
Paid Mortgage Debt This Month: $ 3900
Ending Mortgage Debt:  $87 000

Note that this is still a loooong way above where I was.  And renovations start in 10 days time!  I'll try to report to keep myself honest.

So, 16 month later and renovations haven't helped the pay down of our HELOC.  However, a few updated numbers:

1st September 2019 - $ 99,000 owing
1st October 2019 - $ 99,00 owing
1st November 2019 - $ 88,000 owning.

We put our tax return (mostly) into the HELOC, hence the big drop in late October.  Hoping to put about $1500 into it each month from now on.  I will try to report in to keep myself honest.  Renovations will mean that some months go backwards as we pay for larger items.

1st December will be $85,800

Reduced by $2200.

1st Jan 2020 balance $84 000

Reduction this month $1800.

We grabbed $10,000 out of the HELOC to pay for a longstanding promise to our daughter for her car.

1st Feb 2020 balance $93 500

Increase of $9500.

[Monerexia]

PTF still ambivalent about my 60K mortgage. Might just let it ride on autopay at $65/week.

[Need2Save]

Starting Balance:  $66,705
Princ Paid jan: $7,450
New Balance: $59,254

I don't have anything creative planned when we pay it off other than stated above (burn party).  But we've already allocated those dollars elsewhere for the rest of the year so it won't feel any different from a month to month cash-flow perspective.

[Gardo]

From Cheapscholar:
"
I’ve been thinking about this lately, as I’m 9-13 months away.  Most people celebrate big accomplishments by going out to a nice dinner.  But, if you’re celebrating paying off your house, doesn’t it make sense to celebrate at your HOUSE?  I’m thinking some lobster, nice cuts of meat, good bottle of wine.  Maybe I can have a cake made with a house design on it?

I also think about changes I’d like to make once the mortgage is gone.  No matter how frugal you are, killing the mortgage frees up a ton of money.  We are due for one of our big vacations in 2021, so the money will be nice.  I also think I’d like to go out to eat more regularly.  We almost never eat out, maybe a few times a year as a family.  My wife and are both about 40, work full time jobs and raise a 10 year old together.  I don’t so much mind the cooking, but the cleaning of pots and pans is just getting really old.  I’d like to go out once a week to local restaurants, especially if we can get the good weekday deals that some offer."


Terrific plan!  You had me at lobsters.  :D

We just withdrew $10,000 out of ours, so it is a little further away again.  It is the last significant withdrawal out of it that I forsee, as I knew we would take this out as some stage.  We were basically holding some money in trust for our daughter, where she couldn't spend it and it helped us a bit with our interest payments.  i'll update at the end of the month.

But celebrations for us would probably be a bottle of Aldi french champagne.  And a good meal at home.

Hmm I've not tried that Aldi french champagne, will try it!

[Gardo]

Very nice!!! I don’t get bonuses, so it’s usually steady payoff on my end.   Great to see chunks like this though.

I get bonus but I bake it already to my budget for vacations so it's like I don't get one.  What I am hoping for is a good merit increase like minimum of $3,500.  It's been 5 doggone years since I had one.

Nice share by the way re one of your classmates getting interested in paying down mortgage.  Let's help spread the word! :)

[Gardo]

Welcome  our new member Moenrexia to this blessedly bountiful MP75 Club!  Please enjoy your stay, people here are nice and friendly and we prefer it that way.

Hope everyone had a nice Valentines!   I believe I intimated with you all my Valentines' gift -- an extra payment.  :D


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

Graduates may go to the Mortgage Payoff Club that is already existing but feel free to drop by and visit every now and then.

Graduates:
MangoAtPlay
indentured4now
gypsy79
Slow road to freedom
bw_94

[Gardo]

Beginning Mortgage Debt This Month:  $58K
Paid Mortgage Debt This Month: $2K 
Ending Mortgage Debt:  $56K

[fireseeker]

Hi everyone! We're excited to join this group.

Starting Mortgage Debt as of January 1, 2020:  $ 99.50K

Beginning Mortgage Debt This Month: $99.25K
Paid Mortgage Debt This Month :  $10.25K
Ending Mortgage Debt : $89K

We bought our 1350sq townhouse in April 2019 for $250K, with a 30 year 7/1 ARM mortgage of $125K at 3.875%. We plan to pay it off before the 7 year fixed rate period is up in Jun 2026, at the absolute latest. In a "typical" month, we pay the required minimum payment of $588. But February and March are bonus season for my husband, and we like to split the extra $$ between giving, retirement savings, and mortgage principal payments. We also chose to defer 30% of his gross income last year due to the amazing investment return opportunity as well as the forced savings. We had experienced lifestyle inflation so we used the deferral to help us return to our frugal roots. We'll be receiving that deferred income next month, so we anticipate making another big principal payment at that time.

[Need2Save]

Starting Balance:  $59,254
Princ Paid jan: $4,954
New Balance: $54,300

Should be graduating to the payoff thread next month!  Woo-hoo!

[middo]

So, moving interstate hasn't helped the finances at all.  Current situation for July is:

Beginning of month: $90 900
Paid Mortgage Debt This Month: $ 3900
Ending Mortgage Debt:  $87 000

Note that this is still a loooong way above where I was.  And renovations start in 10 days time!  I'll try to report to keep myself honest.

So, 16 month later and renovations haven't helped the pay down of our HELOC.  However, a few updated numbers:

1st September 2019 - $ 99,000 owing
1st October 2019 - $ 99,00 owing
1st November 2019 - $ 88,000 owning.

We put our tax return (mostly) into the HELOC, hence the big drop in late October.  Hoping to put about $1500 into it each month from now on.  I will try to report in to keep myself honest.  Renovations will mean that some months go backwards as we pay for larger items.

1st December will be $85,800

Reduced by $2200.

1st Jan 2020 balance $84 000

Reduction this month $1800.

We grabbed $10,000 out of the HELOC to pay for a longstanding promise to our daughter for her car.

1st Feb 2020 balance $93 500

Increase of $9500.

No change this month.  Many other things on our plate at the moment.  Restumping the house and dealing with the bank, letting out an investment property. 

[Huskerfan]

Starting Mortgage Debt (July 2019) :  $90,835.26. (Not total mortgage... that was around $179k)

Beginning Mortgage Debt This Month: $77,869.14
Paid Mortgage Debt This Month :  $2334.09
Ending Mortgage Debt : $76312.98

****Descriptive Text *****
$1556.16 off of principle
I’ll hit my goal of less than $75k next month.

A few Kung Fu ninja moves made recently; but the biggest one was was changing my insurance and saving $1200 a year. I may not see that hit the payment area for until next year, but that’s an extra $100ish a month that I’ll be adding to the principle payments.   

The overall goal will still be a final payoff in 3 years. The next year will be steady payments as I’ve been doing, and then a larger amount on the second and final year. 

[CheapScholar]

Paid $1,716.62 in principal this month.

Down to a balance of $57,717.83

[AnxietyFly]

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.

Hello - I am now down to 69k. I have 35k in cash right now just waiting out the storm before paying down the house.  My house interest is 2%. As of last year, I have been putting everything in a savings account (HSA) and bonds until I have enough to pay off the house. Expecting to have enough to pay off the house early next year (assuming I dont lose my job). 

[Need2Save]

Starting Balance:  $54,300
Princ Paid March: $10,967
New Balance: $43,333

It's official - this is my last post on this thread. Good luck to the rest of you!

[Gardo]

Whew what a month March was!

Had to tune out from this forum for awhile as I put myself and family in center on the more important things in life like safety, health, and job.

Looks like this market drop will linger for a while.  Might as well enjoy the ride and keep on buying at discounted rates.  Anyways, I've been off topic. 

I wish everyone is doing good.

On with the program:

Beginning Mortgage Debt This Month:  $56K
Paid Mortgage Debt This Month: $4K (2 months)
Ending Mortgage Debt:  $52K

[Gardo]

Welcome  our new member fireseeker to this  survivalist MP75 Club!  Please enjoy your stay, people here are nice and friendly and we prefer it that way.

We are all in this together in what is happening with the world around us.  Hope a cure is just around the corner.

Shoutout also to Need2Save for graduating to below $50K!  Feel free to visit us when you can and we'd love to hear from you.

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

Graduates may go to the Mortgage Payoff Club that is already existing but feel free to drop by and visit every now and then.

Graduates:
MangoAtPlay
indentured4now
gypsy79
Slow road to freedom
bw_94
Need2Save

[Gardo]

Starting Balance:  $54,300
Princ Paid March: $10,967
New Balance: $43,333

It's official - this is my last post on this thread. Good luck to the rest of you!

Dammmmmmnnnnn!  Look at you.  Now that's what I call going out with a BANG!  Congrats friend!  Hopefully to join you there soon.

[Gardo]

Hi everyone! We're excited to join this group.

Starting Mortgage Debt as of January 1, 2020:  $ 99.50K

Beginning Mortgage Debt This Month: $99.25K
Paid Mortgage Debt This Month :  $10.25K
Ending Mortgage Debt : $89K

We bought our 1350sq townhouse in April 2019 for $250K, with a 30 year 7/1 ARM mortgage of $125K at 3.875%. We plan to pay it off before the 7 year fixed rate period is up in Jun 2026, at the absolute latest. In a "typical" month, we pay the required minimum payment of $588. But February and March are bonus season for my husband, and we like to split the extra $$ between giving, retirement savings, and mortgage principal payments. We also chose to defer 30% of his gross income last year due to the amazing investment return opportunity as well as the forced savings. We had experienced lifestyle inflation so we used the deferral to help us return to our frugal roots. We'll be receiving that deferred income next month, so we anticipate making another big principal payment at that time.

Welcome and congrats on the townhouse.  That's a very nice rate for 7 years!    Also a very nice deb/equity ratio from the start. 


To the rest, keep on chugging along!   You guys are all doing a great job. 

[middo]

A few updated numbers:

1st February 2020 - $ 94,500 owing
1st March 2020 - $ 93,500 owing
1st April 2020 - $ 93,000 owning.

Slow progress as we renovate the house.  We had to pay for two home offices in the last month, so fairly happy.  Should speed up a little in the next few months with reduced transport and other kid related costs.

[Huskerfan]

Starting Mortgage Debt (July 2019) :  $90,835.26. (Not total mortgage... that was around $179k)

Beginning Mortgage Debt This Month: $76312.98
Paid Mortgage Debt This Month :  $1334.09
Ending Mortgage Debt : $75751.96

****Descriptive Text *****
$561.02 off of principle
I’ll hit my goal of less than $75k next month. Looks like that goal will be after the May payment. Decided to save the extra in the safe for this month due to everything going on. 

A few Kung Fu ninja moves made recently; but the biggest one was was changing my insurance and saving $1200 a year. I may not see that hit the payment area for until next year, but that’s an extra $100ish a month that I’ll be adding to the principle payments.   

The overall goal will still be a final payoff in 3 years. The next year will be steady payments as I’ve been doing, and then a larger amount on the second and final year. 

[CheapScholar]

Down to $55,994.

Thankful that my spouse and I still have our jobs. 

[Gardo]

A few updated numbers:

1st February 2020 - $ 94,500 owing
1st March 2020 - $ 93,500 owing
1st April 2020 - $ 93,000 owning.

Slow progress as we renovate the house.  We had to pay for two home offices in the last month, so fairly happy.  Should speed up a little in the next few months with reduced transport and other kid related costs.

Nice.  Work from home is awesome.  Hope we see some pics soon.

Just wish to share my home office. 

[Gardo]

Starting Mortgage Debt (July 2019) :  $90,835.26. (Not total mortgage... that was around $179k)

Beginning Mortgage Debt This Month: $76312.98
Paid Mortgage Debt This Month :  $1334.09
Ending Mortgage Debt : $75751.96

****Descriptive Text *****
$561.02 off of principle
I’ll hit my goal of less than $75k next month. Looks like that goal will be after the May payment. Decided to save the extra in the safe for this month due to everything going on. 

A few Kung Fu ninja moves made recently; but the biggest one was was changing my insurance and saving $1200 a year. I may not see that hit the payment area for until next year, but that’s an extra $100ish a month that I’ll be adding to the principle payments.   

The overall goal will still be a final payoff in 3 years. The next year will be steady payments as I’ve been doing, and then a larger amount on the second and final year.

Wow whenever you can combine Chinese Kung Fu with Japanese Ninja moves, you know you got it so congrats on the insurance!

[middo]

A few updated numbers:

1st February 2020 - $ 94,500 owing
1st March 2020 - $ 93,500 owing
1st April 2020 - $ 93,000 owning.

Slow progress as we renovate the house.  We had to pay for two home offices in the last month, so fairly happy.  Should speed up a little in the next few months with reduced transport and other kid related costs.

1st May 2020 - $90,500 owing.  Down $2500 in the month.  :)

Some costs have reduced with our youngest back home from Uni, particularly her boarding costs, which we have put into the HELOC.  Hoping for another $2000 next month.

*edited.  I put another $500 in today before the end of the month.

[Huskerfan]

Starting Mortgage Debt (July 2019) :  $90,835.26. (Not total mortgage... that was around $179k)

Beginning Mortgage Debt This Month: $75751.96
Paid Mortgage Debt This Month :  $3534.09
Ending Mortgage Debt : $72989.18

****Descriptive Text *****
$2762.78 off of principle. 

Made a large payment. Now below $75k. Feels nice.
I’ll have to rethink my goals now.

A few Kung Fu ninja moves made recently; but the biggest one was was changing my insurance and saving $1200 a year. I may not see that hit the payment area for until next year, but that’s an extra $100ish a month that I’ll be adding to the principle payments.   

The overall goal will still be a final payoff in 3 years. The next year will be steady payments as I’ve been doing, and then a larger amount on the second and final year.

[CheapScholar]

Down to $54,264.  Should graduate this group in 3 months.  Should have my house paid off sometime between October 2020-July 2021 depending on the market and assuming our employment situations don’t change.  I’ll own my house outright at age 40.  Feels good.

[Gardo]

Beginning Mortgage Debt This Month:  $52K
Paid Mortgage Debt This Month: $1K
Ending Mortgage Debt:  $51K

I am close to graduation myself.  :)

Hope you guys are all doing well.  :)

[middo]

1st February 2020 - $ 94,500 owing
1st March 2020 - $ 93,500 owing
1st April 2020 - $ 93,000 owning.
1st May 2020 - $90,500 owing. 

1st June 2020 - $87,000 owing.  Down another $3500

We also spent over $8000 on the house renovations this month, so I am really happy with this result.

[Huskerfan]

Starting Mortgage Debt (July 2019) :  $90,835.26. (Not total mortgage... that was around $179k)

Beginning Mortgage Debt This Month: $72989.18
Paid Mortgage Debt This Month :  $2634.09
Ending Mortgage Debt : $71117.77

****Descriptive Text *****
$1871.41 off of principle. 

A few Kung Fu ninja moves made recently; but the biggest one was was changing my insurance and saving $1200 a year. I may not see that hit the payment area for until next year, but that’s an extra $100ish a month that I’ll be adding to the principle payments.   

The overall goal will still be a final payoff in 3 years. The next year will be steady payments as I’ve been doing, and then a larger amount on the second and final year.

[CheapScholar]

Down to $52,527.

Eyeing paying off the mortgage in October.  This will involve selling off about $23,000 we have in mutual funds in a fidelity brokerage account.  Thinking we will sell those in early fall before any serious possibility of corona spiking again and crashing the markets.

I’m really looking forward to burning my mortgage and the monthly statements I’ve been saving.  Should happen on a nice crisp fall evening in late October.