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March 2011 Mortgage

February 26th, 2011 at 11:26 pm

Balance $134,680.00
+$420.88 Interest
+$307.59 Escrow
-$1311.16 Regular Payment
-$527.31 Principle Payment ($40 in change)
New Balance $133,570.00

$133K = 133 months = 11.08 years left!

2 Responses to “March 2011 Mortgage”

  1. Petunia 100 Says:

    Wow, you are really rocking that mortgage paydown! Does the 11.08 years represent the time remaining if you stop paying extra, or the time remaining if you continue as you are doing now?

  2. Banker Gurl Says:

    Thanks Petunia! The 11.08 years is if we keep paying enough extra to pay off $1000 in principle per month. Right now our regular payment takes off $580 in principle. So we have to pay at lease $420 extra to take off the $1000 in principle. Of course the amount extra we would need to pay each month will keep going down as the balance and interest amounts reduce each month. Right now I don't see a reason we would not be able to continue to pay the extra in the future since we have a good amount in savings and HSA accounts.

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