Debt Reduction, Mortgage

Mortgage Payoff Progress for June 2012 with Chart

It’s time for an update on our mortgage payoff progress.  As a reminder – My wife and I purchased our first home back in February of 2010.  Since then, we have been working hard to reduce our mortgage principal and payoff our mortgage early. 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 June 30, 2012, we have made 28 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…

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