That is how much money we are paying per month to eat away at our two mortgages. One is on our primary house, the other on our secondary home. We are overpaying one of our mortgages by $2000! We are so close to paying them off so the majority of our money is going to principle. The breakdown is as follows:
Principal: $7260
Interest: $1250
Once they are paid off we are mortgage free. I know we should invest this money in the bank, but it will feel so good to have the houses paid off and once we do we can sell our primary house and move somewhere else free and clear or rent out our house and use that money to pay off our new mortgage.
Wait wait wait, what am I missing?? Whose mortgage is that much? Surely not yours?
That is how much money we are paying per month to eat away at our two mortgages. One is on our primary house, the other on our secondary home. We are overpaying one of our mortgages by $2000! We are so close to paying them off so the majority of our money is going to principle. The breakdown is as follows:
Principal: $7260
Interest: $1250
Once they are paid off we are mortgage free. I know we should invest this money in the bank, but it will feel so good to have the houses paid off and once we do we can sell our primary house and move somewhere else free and clear or rent out our house and use that money to pay off our new mortgage.