House Mortgage -- Countdown

[jpham540]

Keep up the good work Random saver . I do a mortgage too, but I decided that I can make more money by investing it rather than paying my mortgage. My interest rate for personal home is 3.5% and rental is 4.5%, so I think the market will be a better option, We will see later on.

[Michael Thompson]

I think you are doing good work so should keep up with the good pace to remove your debt.

[Eagle]

Mortgage Principal : $203K

Good job!

[Eagle]

Eagle, let's do this journey! we can make it!

Mortgage Principal : $103.6K

[Randomsaver]

thanks guys! it really gladdens the heart to see and read support. that's really a big objective of this thread. we're here to back each other up.

Eagle, great job.

Debt, you're going DOWN.

[autoxer]

I've got 152 payments remaining. I'm tempted to put a countdown on my refrigerator so I can watch that number drop.

[Randomsaver]

I've got 152 payments remaining. I'm tempted to put a countdown on my refrigerator so I can watch that number drop.

Seems like a good idea. I say Do it!

In fact you may have inadvertently given the cure to those on the heavy weight side. Post the debt on the ref. That should deter/depress people from getting those high calorie snacks or 4th meals inside.

[krantcents]

Presuming it is a low interest loan, why do you want to pay it off early? I realize it is a personal decision, but there are alternative investments that will yield much higher rates of returns. I am 3 years away from retirement and mortgage pay off and thinking of refinancing. All I am saying is you shuld think about it.

[Eagle]

I've got 152 payments remaining. I'm tempted to put a countdown on my refrigerator so I can watch that number drop.

Probably a good idea. If we'd paid it off in the 30 year term of the contract we'd have 354 payments left. Not nearly as fun as the account principle though if you're paying it off early.

[Randomsaver]

Mortgage Principal : $203K

Mortgage Principal : $202K

[youshallliveinoverflow]

Awesome. Wish you the best with that. I know people who have been free of mortgage debts for years. It's a good thing to do.

[youshallliveinoverflow]

That sounds like good thing to do. Keep the goal in front of you and your family. This will keep you motivated.

[Randomsaver]

Mortgage Principal : $202K

Mortgage Principal : $200K

Mini-celebration I am now what it seems is belonging to an average American household -- i.e., $200K debt.

[JoeP]

Presuming it is a low interest loan, why do you want to pay it off early? I realize it is a personal decision, but there are alternative investments that will yield much higher rates of returns. I am 3 years away from retirement and mortgage pay off and thinking of refinancing. All I am saying is you shuld think about it.

That is our situation: we have about 45k left on a 15 year fixed at 4.375%, with a payoff date somewhere in 2018. We "could" pay it off early, but the money that would be used for that is currently tied up in funds that are performing pretty well. We'd lose a lot of the compounding benefits if we pulled out just to pay down a mortgage where a bulk of the payment is going toward principal.

[Eagle]

Mortgage Principal : $200K

Mini-celebration I am now what it seems is belonging to an average American household -- i.e., $200K debt.

Congrats!