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October 2014 Mortgage Payment

September 28th, 2014 at 05:36 pm

October 2014 Mortgage Payment

Balance $168,500.00
+$509.01 Interest
-$768.45 Regular Payment
-$240.56 Principle Payment
New Balance $168,000.00

Here is my first mortgage payment on my own.
For now my plan is going to be to pay down to the next $500 mark each month. Gonna keep my focus on savings as much as possible, but want that balance to keep going down.

2 Responses to “October 2014 Mortgage Payment”

  1. snafu Says:

    What a phenomenal sale! $8,700 WOW ! I'm puzzled by your desire to retain so much cash. How do you feel about giving every new dollar a job? Of course retain 3-6 months of basic expenses as your Emergency Fund. Would you consider a ROTH, plain Jane, Vanguard Index Fund; DCA contributions at $ 1,000. per month for the next 9 months, more or less reflecting Rummage Sale, FB, non salaried income? Since divorce resulted in a new mortgage, I wonder how fast the interest/principal ratio would change if you'd use ROTH's quarterly dividends as a further payment directly to principal.

    These can change as your circumstances change, nothing written in stone... please understand I mean no offence. I see interest paid out as an anathema

  2. debthaven Says:

    You goal has always been to pay off the house. The other goal was to get to 20K in savings, and you're now at 25.5K.

    Would you consider making a 5K payment towards your mortgage? And continuing to save, and maying payments once you hit 5K?

    If I'm not mistaken, you don't have a traditional 15Y or 30Y mortgage. I'm not sure why. Have you considered that?

    Good luck! I'm so glad to see things are looking up for you! Smile

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