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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.


Posted in Mortgage/Debt Payoff | 2 Comments »

2 Responses to “October 2014 Mortgage Payment”

  1. snafu Says:
    September 28th, 2014 at 10:20 pm 1411942848
    1411942848

    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:
    October 3rd, 2014 at 11:18 pm 1412378287
    1412378287

    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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