Thursday, February 9, 2012

Huge Mortgage Payment Made!!

I made a huge mortgage payment today in the amount of $13,150 to principal.  That brings our mortgage down to just over $35,000.  We have about $28,500 in savings and over $12,000 in stocks.  That means that we have enough to pay off our mortgage.  I'm going to wait for a little bit because I want to keep enough in savings for an emergency if needed. 

I calculate that we will need at least $20,000 in savings and our mortgage gone before we can build.  I will really have to save every bit I can.  Going to New York City will not help this at all but I'm still going and I'm going to have fun. 

We are starting to get so close to building.  We're still waiting to hear back on an estimate to build.  Y revised our building plan to around 1900 square feet.  We want a rambler with 3 bedrooms and 2 bathrooms.  I'm so excited!

This crappy house we're living in will be gone :)

10 comments:

  1. Wow that's a big payment! Are you selling this house when you build or renting it out?

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  2. Wow that's so exciting! I wish I was that close.

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  3. That's an awesome payment! Wow, really good for you.

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  4. Never do you cease to amaze me. You are doing really awesome and the balance between stocks, savings and your mortgage is nice in my opinion. You are doing great. Keep it up. I have no doubts in your future success.

    In other news, I tagged you in a post - http://www.upendilife.com/2012/02/who-am-i-going-to-tag-now.html

    and I sent you an email.

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  5. Oh wow that is wonderful! must feel great to know you have the mortgage amount covered if you did want to pay it out.

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  6. Wow! You are so close to paying off your mortgage! Where are you building? Will you be selling your home when you do build?

    You have a nice amount in cash reserves. That's really important, as you know. I hope to have my mortgage paid off earlier than 13 years...I'm pushing for 10...we shall see.

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  7. Thank you all so much. We will be building on our current lot of 17 1/2 acres. We currently have a double wide mobile home which we will be moving.

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  8. Wow! I am extremely excited for you and maybe a tiny bit jealous too. Way to go!

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  9. How exciting! Way to snowflake to that principle.

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  10. That is really great!!! Congratulations!

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