<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Category: Mortgage Principal Reduction Extravaganza
 

Viewing the 'Mortgage Principal Reduction Extravaganza' Category

Mortgage principal reduction

December 7th, 2017 at 02:50 pm

Extra Payment Savings

Extra Principal Paid: $4,179.52
Interest Saved:$9,166.85
Payments Saved:10
Current Loan Maturity:8/1/2046

$500.00 to savings and we are at 10% of the new Mini Lofty Savings Goal.

I'm trying to keep a balance between extra mortgage principal payments and savings. It is important for me (us) to continue saving.

I'm not sure if I mentioned this before but we are doing just stocking this year. We want to do a nice family outing to New York City in the spring. I rather not be in the cold so spring seems a nice time of the year to be in the city. I just have to buy for my great nephew.

Mortgage Principal and Savings Goal

December 1st, 2017 at 04:26 pm

It was payday yesterday and we were able to pay an extra $300 towards the mortgage principal. This is were we stand as of today:

Extra Payment Savings

Extra Principal Paid: $3,679.52
Interest Saved:$8,097.27
Payments Saved:9
Current Loan Maturity:9/1/2046 (not if I can help it!)

I expanded our "Lofty Savings Goal" another $10K by June 30th (the end of our employer's fiscal year) just because I need to remain focus and not become complacent with our savings. There is a pesky and hefty credit card bill due December 15th that has to be paid in full. We don't carry any credit card debt unless it is at promotional 0% interest rate.

I received a reimbursement from the optometrist in the amount of $45, a prescription reimbursement for the amount of $4.59 and $2 cash. A good mail day indeed.

Mortgage Principal Reduction update

November 22nd, 2017 at 03:37 pm

To date:

Paid $1,528.52 extra on the principal

Money saved in interest: $3,414.11

Lofty goal/Mortgage Principal

November 20th, 2017 at 09:58 am

I allocated $1500 to send as an extra principal mortgage payment this month (November). The goal is to replace those $1500 every month in order to pay extra on the principal every month. If I don't replace the money, I will not send any extra until I do. This goal will keep me motivated and gazelle intense.

The "Lofty Savings Goal is at 99.4%. We should be able to fully fund it with our next paycheck. My sons, husband and I decided not to buy gifts this year for Christmas and will just do stockings. We decided to do a big family outing in the spring to New York City to see a Broadway Show and dinner in lieu of Christmas gifts. We all feel that it'll be more memorable.

Just in case I do not post anything else this week, I want to wish all of you in the United States, a Happy Thanksgiving!!!

Mortgage Principal Reduction

October 24th, 2017 at 03:32 pm

Here we go again; we decided to begin paying down our mortgage principal hoping to pay it off in seven years or less. We really want this monkey off our backs. We will continue to contribute to our retirement funds as usual.

If we manage to pay it off in seven years, it will save us $190,000.00 in interest.

Mortgage Principal Reduction

October 24th, 2017 at 03:24 pm

Here we go again; we decided to begin paying down our mortgage principal hoping to pay it off in seven years or less. We really want this monkey off our backs. We will continue to contribute to our retirement funds as usual.