Mortgage

Mortgage Payoff Progress for April 2012 with Chart

Two years ago my wife and I purchased our very first home. We have a conventional, fixed-rate 15-year mortgage. Our goal is to pay it off our mortgage in less than ten years. As of April 9, 2012, we have made 25 regular monthly mortgage payments. We have also made several additional principal-only payments. Our mortgage payment is drafted from our primary checking on the first day of each month. Additional principal-only payments are made throughout each month, as we earn additional income and find ways to decrease budgeted-for expenses. Here is our most recent chart – The chart shows two percentages. The blue percentage is how much I still owe – the balance. The red percentage is how much…

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