The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/ticohombre-update-30610752.aspx

Subject:  TicoHombre - Update Date:  3/28/2013  10:15 AM
Author:  TicoHombre Number:  306878 of 308686

Good morning, All!

Our last update on December 31st can be referenced here:

http://boards.fool.com/ticohombre-im-back-30459526.aspx

Things are going well. Spring is in the air and the longer days are a very welcome change. They just make you feel more energetic and want to get more done.

Our accelerated rental mortgage payoff plan is moving along nicely.

Our rental properties mortgages last totalled: $196,920

The December balance: $178,479
Our April (early) balance: $159,311
------------------------------------
Total paid off in 4 months:$ 19,168

We are still adding $3,400 per month to in order to snowball the payoff starting with the lowest mortgage balance and working toward the highest. That will more quickly free up monies to increase the size of the snowball. We are still looking toward a complete payoff of the last three rental properties by July, 2016. That means we'll have paid off 3 mortgaged totaling $177,650 in 42 months (3 1/2 years).

Current mortgage balances:

House #1: $32,497
House #2: $56,838
House #3: $69,976

Savings:

Rental Properties eFund: $ 1,835.50
Personal eFund: $ 0
-------
Cash & Investments: $ 1,835.50

I am blogging about the experience here:

http://payoffmyrentals.blogspot.com/

We have, as always, things coming up that can potentially throw a wrench in the works, but we're trying to anticipate and plan accordingly. The trip to Mexico in January was fantastic. We're now planning an Alaskan trip this Summer. DW's health continues to improve after her thyroid cancer and rotator cuff surgeries.

Otherwise, we are focused and determined. Enjoy your spring and let me offer you a gift that I am simply passing along. Very thought-provoking!

http://www.youtube.com/watch_popup?v=gXDMoiEkyuQ&vq=medi...

Good day to all!
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us