Wow, it's almost the end of the month but better late than never. I waited longer than usual to make my extra mortgage payment because:
-My renters have been paying me in small quantities of $300-$500 at a time.
-I was deciding what to do with my $5,000 CD that just matured.
-I was waiting to see if more money magically appeared so that I could buy a share of my neighbor's well. (approximate cost $10k or more)
More money did not magically appear so I decided to put the $5,000 towards my mortgage. I made a jumbo payment of $6,636 this month. My mortgage total now is $34,702.
If I don't make any more extra payments, my mortgage will be paid off in 5 years and 6 months. If I stick with my plan (and my renters cooperate), I will have it paid off in 1 year and 2 months. I can't wait to get to the one year mark. I'm so excited!
That is a jumbo payment! Wow, and congrats on moving under the $40k mark. Way under. You are almost to the $30k mark!
Too bad it doesn't shorten my plan any, besides the usual one month but it is fun to see it drop that much. I was languishing in the 40's for too long.
Nice work. Your outstanding balance has shrunk considerably. It won't be much longer until you have 100% equity!
I found your blog a few weeks ago and you inspired me to pay off my own mortgage early. I've always paid more than the minimum, but after reading your blog, I plunked down $3K and have started to think about ways to pay even more every month. Thank you for documenting your journey for all of us.
Woohoo, you are SO close, congrats!
KoBold, yes, I know. Mind blowing isn't it? :)
Executioner, It was fun to jump in to the mid-thirties so quickly. 20's here I come!
atexasgirl, I am so glad I could be an inspiration to you. It is more fun to pay off the mortgage when there are others doing it too. Good luck with yours and thanks for stopping by!
Sallie's Niece, I'm excited, only one more summer in this hot RV (hopefully).
Post a Comment