Paying Off The Mortgage: Failure or Success in October?

Unfortunately, another month has ended, which means that I have less than 60 days to pay off my home mortgage! AHHHHH! I don’t feel quite ready for this yet, but as we always do, let’s review how much I paid off in October and make a plan for a full payoff by the end of this 2014 year.

Paying Off The Mortgage: The Journey Thus Far

I made the audacious goal back in December 2013 that I was going to pay off my $54,500 mortgage in one single year. In the beginning I was fortunate enough to get a huge tax refund as well a few tuition reimbursements from my company. All was going swimmingly until May – this is when Google decided that I needed to be penalized and my monthly web earnings dropped by about 80%. This did not fair well for my mortgage payoff plans.

If you . . . → Read More: Paying Off The Mortgage: Failure or Success in October?

Paying Off the Mortgage: Failure or Success in September?

hate debt

Well we are getting down to the wire now. September is finished and there are only three months left to make this mortgage disappear within 2014! At the beginning of the year, I was indebted to the bank to the tune of $54,500 because of my mediocre home (according to society’s standards anyway – I think that it’s quite lovely) in West Michigan.

It wasn’t really a New Year’s resolution, but it just so happened that I had the thought of becoming completely debt free toward the end of December last year. And, after crunching a few numbers, I figured that it might be possible to pay off the remainder of my mortgage within just one year! And so, this crazy journey of paying off the mortgage began. Here is what I have been able to accomplish so far:

January – $54,217 February – $53,871 March – $43,524 April – . . . → Read More: Paying Off the Mortgage: Failure or Success in September?

Paying Off The Mortgage: August Progress Update

Ahhh!! The end of the year is coming so fast! This is the last day of August, which means that there are only four more months for me to complete my year-long challenge of paying off the mortgage! While this is a little freaky, I feel like I have done a pretty great job thus far. Here is the summary of what I have done from January through July:

January – $54,217 February – $53,871 March – $43,524 April – $39,999 May – $34,120 June – $31,252 July – $27,934

The Month of August

I knew that August wasn’t going to be an amazing month since I had to pay my $1,860 property tax bill, but I still made a valiant effort nonetheless. Within the month, I was scouring Craigslist for cheap cars, trying to find one that I could buy and then flip in order to make $1,000 or . . . → Read More: Paying Off The Mortgage: August Progress Update

Paying Off The Mortgage Update: July 2014

My goal starting in January (just 7 months ago) was to pay off my entire $54,500 mortgage by the end of the year. Yeah, it was a pretty lofty at the time, but I figured that if I pushed myself hard enough, I could accomplish this goal. Well…with a website downgrade from the Big G, the money hasn’t been flowing in quite like it used to, but you know I’m not going to let that stop me! The mountain has seemingly grown a little taller (which really sucks because I was already halfway up…), but I am still continuing my climb. This is a summary of my progress thus far:

January – $54,217 February – $53,871 March – $43,524 April – $39,999 May – $34,120 June – $31,252

Through June, I had paid off over 56% of my total mortgage (which was $70,875 back in August, 2011). That . . . → Read More: Paying Off The Mortgage Update: July 2014

Paying Off the Mortgage Update: June 2014

Ever since I bought my house back in August, 2011, I have had the intention to pay it off early. Well, then life happened… (we’ll leave it at that). But, as of January, 2014, I have refocused my energies toward this house pay-off! In the beginning of January, I owed about $54,500 on my 3 bedroom, 1.5 bath home, and I planned to pay off the total amount by the end of December, 2014 (yes, this year!). Here is how the payoffs have gone thus far:

January – $54,217 February – $53,871 March – $43,524 April – $39,999 May – $34,120

The balance has definitely been coming down! In five short months, I have paid off over $20,000 worth of debt. Hopefully I can keep this train rolling!

The Mortgage Payment in June

In my last post, I did not expect to pay all that much to my . . . → Read More: Paying Off the Mortgage Update: June 2014

Paying Off The Mortgage Update: April 2014

I have vowed to pay off my mortgage by the end of this year, 2014. At the end of February, I still owed $53,800 to the bank, but then March happened (which was a good thing!) and I was able to take this balance down tremendously. I sold my extra car, received a hefty tax refund check, and got some money from my insurance company. After March, I was able to put over $10,000 toward the house debt and brought the balance down to $43,524.

Paying Off The Mortgage: A Decent April

There were no more money windfalls like there were in March, but it was a pretty good month considering. If you remember, I had a big tax refund from last year (which I don’t necessarily like because that means I’ve been letting the government use my money for free), so I thought I would alter my . . . → Read More: Paying Off The Mortgage Update: April 2014

Paying Off The Mortgage Update: March 2014

I have vowed to pay off my mortgage by the end of this year, 2014. At the end of February, I still owed $53,800 to the bank, which is a huge amount (to pay off in a year anyway), but I still think it’s possible.

Paying Off The Mortgage: Money Windfall in March

I expected March to be good to me, but not this good. If you remember my post, “Paying Down the Mortgage: My Successes and Failures,” you probably recall that I expected to receive about $3,000 back in taxes, get about $3,000 in insurance money, and I expected to sell my Malibu that I was flipping for $6,500.

Well, I got a little soft-hearted and sold the Malibu for only $6,000 (but still made a $650 profit), and my insurance check was as expected for approximately $2,850, but the tax return left me a little speechless. . . . → Read More: Paying Off The Mortgage Update: March 2014