House Mortgage -- Countdown

[Randomsaver]

September payment of $1200: $56,460

I'm envious but in a happy way!

Keep it goin' Jluke.

[snafu]

While the equity market is dropping, fear is bubbling in it's a repetitive procedure. I hope you were joking in another thread when you suggested stocking up on food and buying ammo.

[tqf258]

$95,970

[Eagle]

96,808.53

[Eagle]

Thanks for those details... I asked b/c it looked like "only" ~$300 of principal was reduced with the monthly payment? I was going to suggest a re-fi to a 10, 15 or 20-yr so you can pay more towards principal... If you're going to pay it off in 8 years, then I'm guessing you will pay a lump sum at some point.

Yes, we plan on paying a lump sum in a few years. Been toying with the idea for months.

[Randomsaver]

$95,970

96,808.53

Bravo both of you!

[Randomsaver]

Mortgage Principal : $180K

Mortgage Principal : $159K

[Jluke]

Mortgage Principal : $159K

to the 21k reduction

[Randomsaver]

^ Much appreciated Jluke. I paid lump sum of $15K in addition that's why it went down as much. That's it for me though. I'm out of extra money and tricks. Just have to bear the drag of paying down the debt monthly.

[Jluke]

September 2015: $56,460

October payment of $1200: $55,394

So tempted to pay even more extra, but staying patient and cautious - trying to balance savings to manage debt plus future expenses.

[Randomsaver]

October payment of $1200: $55,394

So tempted to pay even more extra, but staying patient and cautious - trying to balance savings to manage debt plus future expenses.

Sooperb!

[Randomsaver]

Focused Debt : $25K

Focused Debt : $23K

(Recalibrating this to mean $158K)

[Randomsaver]

Focused Debt : $23K

(Recalibrating this to mean $158K)

Focused Debt : $22K

[Eagle]

Good job everyone!

96,808.53

96,532.99 :angry-smiley-055

Probably not going to get to 90k by the end of the year. My sister is getting married overseas (passport, ticket, visa, travel expenses, etc.), I just got a new iPhone, auto insurance increase due to 2 accidents, and van maintenance were simply too much this year.

Revised goal: If we get to 95k at the end of the year I'll be content.

[Randomsaver]

^ Life happens. You'll get there buddy.

Guys, I now had 3 varying reports of average household mortgage debt. These are kind of recent data -- 100,000; 149,000; and 166,000.

Due to varying amounts, the thing I did to get to the best "truth" is simple averaging -- and that came out $138,000.

This tells me I'm behind the curve.
For those with less than $138K balance, pat yourselves on the back!