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.
8/31 Home Equity Loan Update
August 31st, 2008 at 06:45 pm
August 31st, 2008 at 07:11 pm 1220206305
August 31st, 2008 at 10:01 pm 1220216471
September 1st, 2008 at 01:01 am 1220227266
September 1st, 2008 at 01:34 am 1220229255
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.
September 1st, 2008 at 02:46 am 1220233571
September 2nd, 2008 at 12:14 am 1220310873