As you can see in the box on the right I am making steady progress towards my goal of paying down $10,000 in principal on my second mortgage. The $164.75 listed for April is the amount of my regular payment that went to principal. This is pretty exciting because almost two years ago when I first bought the house my payments only paid off $80-90 in principal. It's almost doubled!
Original loan, May 2007: $138,000.
Amount paid off as of today: $12,780.69. Of the $12K, $7344 was in the last 12 months.
Current balance: $125,219.31.
Carl Sagan's foreboding (28 years ago)
13 hours ago
Isn't it amazing how early on in debt, very little of your payment gets applied to principal? Anyhow, awesome job in paying down the mortgage! You'll be back in the black soon. I know it!
ReplyDeleteIf/when we finally get our regular savings to a point where I'm happy I'll start throwing extra money at the mortgage. Right now it feels like throwing money on a sinking ship.
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