All four mortgage payments hit today:
US: $297 to principal
UK1: $129
UK2: $26
UK3: $28
$480 total went to principal, so that's $695 down, $2805 to go on my August goal.
The big mortgage milestone? Our combined house debt now equals $299,643! That's right, the odometer turned over and we're now under $300,000. Woo hoo!
No progress on my Big-Picture Goal because my big, exciting CC payment didn't hit today as hoped. Oh well, tomorrow or Monday.
We've been wondering for awhile what to do about our impending mortgage reset. AS bit the bullet last night and called our mortgage company to ask about possibly refinancing to a 30-year mortgage. Well, turns out you can't do that unless you have at least 5% equity in your home. Our home's value has tumbled at least $25K in the past 5 years, so we have little to no equity and may even be upside down a bit. Looks like we'll have to take the reset and try again later when the market has recovered a bit. Oh well, their estimate (if it reset now) was that our payment would go up about $100. So even if rates continue to rise, hopefully it won't go up more than $200. I can deal with that.
Nice step toward goal; mortgage milestone
August 1st, 2008 at 02:31 pm
August 1st, 2008 at 03:14 pm 1217603692
I am not trying to take anything away from your accomplishment. I just think it's funny how our mind sees things. In fact, I am, dare I say it, a little envious. The principal on my mortgage is $344k and it seems such a big difference when compared to $299k.
Again, great job. And keep one eye on the road and one eye on the rearview mirror. I'll be showing up there in 2009.
August 1st, 2008 at 07:12 pm 1217617972
August 2nd, 2008 at 08:19 pm 1217708390