Another Payday...

iVillage Member
Registered: 10-01-2008
Another Payday...
3
Wed, 11-13-2013 - 2:12pm

Which means another week down.  14 weeks to go.  Balance $7,486.00.

I've never wished for time to fly like I am now.

iVillage Member
Registered: 10-09-1999
Thu, 11-14-2013 - 10:51am

Awesome, you guys are making gret progress!  Our mortgage is officially below 18,000 as of tomorrow!!  Can't wait for that bugger to be paid in full!!!

Have a great week

cindylee

iVillage Member
Registered: 10-01-2008
Fri, 11-15-2013 - 10:05am

When will you have it paid off Cindy?   Soon???  How did you approach paying it down?  I am retiring (or at least going locally for a part time job 5 mins. from home) in the spring.  So we want to work on the mortgage and bring it down to a 10 - 12 year pay out.  I know for sure I'll go bi-weekly and throw more money at the principal.  Any certain way you did it?

Good luck!

iVillage Member
Registered: 10-09-1999
Fri, 11-15-2013 - 1:47pm

Hi, we should have it paid in full by Christmas.  But I always get large Christmas bonuses...net is usually around $18,000.   We refinanced & added to our mortgage to build a shop 3 years ago.  The balance was $65,000...it was a note with our local bank & we could pay extra on it as often as we wanted.  We did throw $16,000 from a roth at it this year & quit contributing to our roth, we have $410,000 in retirement savings so thought we could do this for a while.  100% focus on the mortgage, we paid extra with my bonus in 2011 & 2012 & then we've been throwing extra at it each week between $400 - $700.  We've been married for 30 years & have had wonderful jobs that entire time so it was time to be done with any & all debt!  I turn 50 in December & DH turns 51 so we will really be celebrating a debt free life!!  Good luck & you can do it too!!