What an Ostrich I've been
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What an Ostrich I've been
| Sat, 01-16-2010 - 10:42am |
A few weeks ago Beepsmomx2 started a discussion on facing the truth about your total debt.
| Sat, 01-16-2010 - 10:42am |
A few weeks ago Beepsmomx2 started a discussion on facing the truth about your total debt.
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DH has 19 years left on a 30 year mortgage, but the payment is about 10% of our monthly income. We want to sell and move to a house with a more open floor plan in a couple years when the kids graduate high school. That is why we are trying to pay off debt, so we can be in a position to make the move. We won't accelerate the pay down, but will try to save as soon as we have the debt paid off.
Michigan is not coming back quickly at all, so I am sure we will find deals for the next two years. Our goal is 10+ acres to build on or with a house we like.
-Marie
ALways a good reminder Norma. Even though I had a pretty good idea, I looked up ours just now. We have a slightly better interest rate, 5.875, and luckily since we did it under DH's VA loan, we have none of those PMI payments, but we pay $129 in principal of our payment and we paid a wonderful $6,300 in interest last year. We have been good at adding $50-100 a month towards principal each month though, hopefully in the grand scheme of things, it will make a difference at the tail end of the loan.
Wow....It looks beyooooootiful
Congrats...
Duke
Wow...I'm glad you discovered this...
My mortgage rate is very low right now (1.25%)
~Jackie, BookCrossing Member & Warming Families Volunteer
<Bex -
Norma
"Patience is the best remedy for every trouble"- Plautus
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