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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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How much longer left on your mortgage?
Since the topic came up, I thought I'd put a poll up...
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Posted 4/24/08 9:10 PM  |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: How much longer left on your mortgage?
Over 20, I think around 26. I wanted to pay it off sooner but DH said NO, bnecause we have a really low interest rate and because of the tax wright offs.
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| Posted 4/24/08 9:12 PM |
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MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Re: How much longer left on your mortgage?
26 yrs 2 months or 314 more payments 
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| Posted 4/24/08 9:15 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: How much longer left on your mortgage?
Posted by julz33
Over 20, I think around 26. I wanted to pay it off sooner but DH said NO, bnecause we have a really low interest rate and because of the tax wright offs.
you save more in interest by paying 1 extra payment a year then you would ever save writing it off for that long
the first 5 years are mostly interest- after that- the write off is very small
on a 30 year fixed- you would save about 7 years
around here that would be about $100K
you aren't saving that on your taxes
I can recommend a great book if you want to prove it to him
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| Posted 4/24/08 9:16 PM |
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BaroqueMama
Chase is one!
Member since 5/05 27530 total posts
Name:
me
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Re: How much longer left on your mortgage?
30! but we just closed on April 1st
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| Posted 4/24/08 9:20 PM |
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nicrae
He's here!
Member since 12/06 9289 total posts
Name:
Mommy
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Re: How much longer left on your mortgage?
Posted by Beth1210
Posted by julz33
Over 20, I think around 26. I wanted to pay it off sooner but DH said NO, bnecause we have a really low interest rate and because of the tax wright offs.
you save more in interest by paying 1 extra payment a year then you would ever save writing it off for that long
the first 5 years are mostly interest- after that- the write off is very small
on a 30 year fixed- you would save about 7 years
around here that would be about $100K
you aren't saving that on your taxes
I can recommend a great book if you want to prove it to him
We do the extra payment.
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| Posted 4/24/08 9:30 PM |
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Marcie
Complete Happiness :)
Member since 5/05 27789 total posts
Name:
LOVE being a Mommy!
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Re: How much longer left on your mortgage?
A little more than 28 years 
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| Posted 4/24/08 9:30 PM |
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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: How much longer left on your mortgage?
We'll start our 30 years on May 8th!!
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| Posted 4/24/08 9:33 PM |
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Re: How much longer left on your mortgage?
I'm one of those lucky people who rent!!! Probably for the rest of my life!!!
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| Posted 4/24/08 9:33 PM |
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Re: How much longer left on your mortgage?
29 years and 6 months....but who's counting, right??  
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| Posted 4/24/08 9:36 PM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: How much longer left on your mortgage?
Posted by Beth1210
Posted by julz33
Over 20, I think around 26. I wanted to pay it off sooner but DH said NO, bnecause we have a really low interest rate and because of the tax wright offs.
you save more in interest by paying 1 extra payment a year then you would ever save writing it off for that long
the first 5 years are mostly interest- after that- the write off is very small
on a 30 year fixed- you would save about 7 years
around here that would be about $100K
you aren't saving that on your taxes
I can recommend a great book if you want to prove it to him
No, we do extra payments. He just means having NO MORTGAGE at all would make us lose a write off.
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| Posted 4/24/08 9:37 PM |
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MeNBobs
*****
Member since 4/07 3765 total posts
Name:
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Re: How much longer left on your mortgage?
29 years and 2 months  
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| Posted 4/24/08 9:51 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: How much longer left on your mortgage?
No, we do extra payments. He just means having NO MORTGAGE at all would make us lose a write off.
yes, you would lose a small write off and i say small b/c you wont be paying much interest at the end
but you would have NO mortgage payment - which is alot better then any write off could ever be
think about what you could do with that money
David Ramsey explains this better then myself in one of his books- total money makeover
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| Posted 4/24/08 9:54 PM |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
Name:
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Re: How much longer left on your mortgage?
12 years and 3 months
Just a few years break before two colleges tuitions
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| Posted 4/24/08 10:00 PM |
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NewYawkah
2012--A year of new beginnings
Member since 5/05 4402 total posts
Name:
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Re: How much longer left on your mortgage?
27 years officially, but I make an extra payment every once in a while and my credit card has a program where they send 1% of my yearly charges to my mortgage.
I own a condo so the mortgage really isn't that much anyway.
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| Posted 4/24/08 10:06 PM |
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SPECIALNEEDSMOMMY
A Healing for Gregory
Member since 1/07 1217 total posts
Name:
Barbara
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Re: How much longer left on your mortgage?
23 years 6 months
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| Posted 4/24/08 10:14 PM |
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Re: How much longer left on your mortgage?
OMG 28 years...
My parents just paid off their house this past month. They said that the 30 years seemed like forever when they bought it and they can't believe how fast it went!
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| Posted 4/24/08 10:17 PM |
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MommyTeffi
Yummy!!!
Member since 2/06 1827 total posts
Name:
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Re: How much longer left on your mortgage?
All Paid. I feel very lucky to have no mortgage. We sold our house in Queens and moved to CT. It was a great feeling paying cash for our new home.
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| Posted 4/24/08 10:26 PM |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
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Re: How much longer left on your mortgage?
27 years...
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| Posted 4/24/08 10:26 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: How much longer left on your mortgage?
5637 years I think...
Seriously, over 20. We bought the house about 3 or 4 years ago (I can't remember!!!).
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| Posted 4/24/08 10:30 PM |
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CunningOne
***
Member since 5/05 26975 total posts
Name:
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Re: How much longer left on your mortgage?
About 12 years... or less (we add in an extra amount each month to round it off)....
We took out a 20 year mortgage back in 2000.
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| Posted 4/24/08 10:38 PM |
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skew
LIF Adult
Member since 5/05 6794 total posts
Name:
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Re: How much longer left on your mortgage?
4.5 years. have a 7 year ARM. haven't decided if i am going to pay off at 7 or refinance prior to. all depends on rates.
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| Posted 4/24/08 11:48 PM |
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JenG
Love my little boy!
Member since 6/05 2489 total posts
Name:
Jen
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Re: How much longer left on your mortgage?
Posted by lipglossjunky73
I'm one of those lucky people who rent!!! Probably for the rest of my life!!!
me too!
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| Posted 4/25/08 12:19 AM |
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PreshusSmurf
So in love with my little guys
Member since 1/07 2963 total posts
Name:
Jess
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Re: How much longer left on your mortgage?
Hopefully we'll start our 30 years soon ....
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| Posted 4/25/08 1:38 AM |
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sunflowerjesss
Mommy to 3!
Member since 10/05 20369 total posts
Name:
Jesss, duh.
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Re: How much longer left on your mortgage?
About 12 years. Took out 15 year fixed 3 years ago.
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| Posted 4/25/08 5:16 AM |
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