Yea! I reached the next milestone. I made an extra principle payment of $2,236 which brings the mortgage total to: $49,078! It took longer than I expected to reach this goal. I hope getting under $40k isn't as hard.
If everything goes as planned I will have my mortgage paid off in 1 year and 8 months.
If I didn't make any more extra payments, my mortgage would be paid off in 8 years and 5 months. I have had this mortgage since October of 2004.
Part of the money I hope to use is going to come from some stocks that I own. I have no idea if they will be worth anything by the time I cash them in. I estimated that they probably lost $1,000 from their $5,000 value of 2 years ago. When I added them all up last week the total was $3,910. Close. I would have to subtract the fees for selling them too when the time comes. Maybe they will *gasp* actually go up in value by the time I want to sell them.
Other than the variable stock value, I just need to keep my job and keep my tenants and I should be able to stay on track with my mortgage repayment program. Oh, and I need to stay off Craig's List so that I don't buy any cute campers!