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I was doing a scanning session in my ongoing task to digitize all of my media including music, movies, books, financial info, photos, etc.
Anyway... I came across the original payment/amortization schedule for our mortgage. We have been striving to be debt free for a while now. The mortgage is the only loan we have left with an outstanding balance. So, we have been making extra principle payments each month as we can for several years now.
Anyway... I compared the schedule to our current balance and we owe about 46% of what the schedule says. If we continue with ONLY the scheduled payments our mortgage burning would be in 3 years or so. That would be 4 years ahead of the original 15 year schedule.
However we do plan to continue making extra principle payments. In todays economy it is the only risk free guaranteed interest you can get these days over a percent or two.
I'm so happy... can't wait to get this paid off an be debt free. (well, we will probably be ready for a new vehicle at that point. Kinda not buying new cars until the mortgage is discharged.)
BOb
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