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8/31 Home Equity Loan Update

August 31st, 2008 at 10:45 am

It hasn't been a full month since I posted a loan update, but I want to start doing it at the end of each month.

As of today, my home equity loan balance is $6,211.45.

In August, I made extra principal payments of $1,170.00 as well as the regularly scheduled payment of $218.01. My goal (which I'm quite sure I can meet) is to pay if off by the end of the year.

6 Responses to “8/31 Home Equity Loan Update”

  1. Ima saver Says:

    That is great!

  2. onesexylady Says:

    Wow that's very smart of you to do so. Good luck and I look forward to reading your blog at the end of December when your POSTING THAT YOUR LOAN IS PAID IN FULL!!LOL

  3. Broken Arrow Says:

    Oh no, look at that massive debt. How WILL you ever pay that off? Hmmmmm.... Big Grin

  4. disneysteve Says:

    Very funny, BA. I do still have a $97,000 mortgage to deal with. I wasn't blogging back when I had over $100,000 in student loans, so I've done my share of debt repayment. Just nothing left but the house.

    Once the HEL is gone, I'll start putting the extra payments toward the mortgage. I haven't run the numbers yet for when that will get paid off as a result. We have 19 years, 9 months remaining on the loan. I'm sure an extra $8,000 or so each year will shorten that considerably.

  5. monkeymama Says:

    Way to go!

  6. Analise Says:

    Impressive! I have no doubt you will pay off your mortgage much sooner than later.

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