We received our tax return money yesterday, so F and I went to the bank today (popcorn Friday!) to pay down principal.
This was a big pay-down! The return (federal) was $3104 and I put the entire thing toward principal. Our balance is now $57,917. If we don't put any more money toward principal, we own our house in February 2020.
I promised D that when we went below $50k we would have a nice meal out. According to my spreadsheet that happens in September.
Anyway, in the car on the way to F's tennis lesson, we had a big discussion about mortgages and interest and principal. She was pretty into it! I wish my parents discussed these sorts of things with me when I was a kid...
Big Mortgage Pay-Down
March 7th, 2015 at 01:18 am
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