Mortgage Payoff Progress For August 2013

My wife and I continue to work hard to payoff our mortgage.

As of the end of August 2013, my wife and I will have lived in our home for 3 years and 6 months.

We have a conventional, fixed-rate, 15-year mortgage and our goal is to pay off our mortgage in less than ten total years. We are behind on our goal – but working hard to achieve it!

As of September 4, 2013, we have made 42 regular, monthly mortgage payments.

We have also made several additional principal-only payments, too.

We usually make our mortgage payment on the first day of the month, but we made our September payment a few days later.

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 –

chart913

The chart shows two percentages:

The blue percentage is how much I still owe – the balance.

The red percentage is how much I have reduced – the paid.


This chart reflects how much of our mortgage balance we have paid – not how much we actually own. That percentage would be much higher.

While property values in our rural neighborhood have remained relatively stable, recent home sales in our area show a slight uptick in sales prices.

Tweet about this on Twitter3Share on Facebook0Share on StumbleUpon0Pin on Pinterest0

Add to Flipboard Magazine.

Recent Articles

One thought on “Mortgage Payoff Progress For August 2013
  1. Bradley

    This is a great way to keep your finances from ballooning under your nose. On the advice of my financial consultant, I have now started to use tools like mint.com to keep me in the know of what’s going on with my money.

     
View My Stats