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11/30 Home Equity Loan Update

November 30th, 2008 at 06:54 pm

As of today, the remaining balance on our home equity loan is $1,439.20. I've been working to have it paid off by the end of the year and that's exactly what we'll be doing. That balance is down $1,392.75 from last month. I'll make one more extra partial payment after my next paycheck on 12/12 and then I'll have to go in to the bank soon after to get a final payoff amount and to make sure they stop the auto-withdrawals for the regular monthly payments.

The monthly payment has been $218.00, so as of January, we will no longer have that bill. Yeah! I'm not 100% sure what to do with that money quite yet. Initially, I'll probably use it to rebuild savings a bit since we had some expensive car repairs recently and our daughter's Bat Mitzvah of course. Then, I'll probably start making some extra payments to the mortgage, our last remaining debt.

5 Responses to “11/30 Home Equity Loan Update”

  1. Ima saver Says:
    1228078348

    Congratulations!!

  2. nance Says:
    1228088361

    Great job becoming debt-free, except for a mortgage.
    Paying that extra $218.00 a month on the mortgage principal will take some years of debt away.

  3. Koppur Says:
    1228097350

    whoo-hoo!

  4. Frugal Momma Says:
    1228132938

    Congrats! I think you got a good plan up the savings and then hit the mortgage.

  5. MICLASON Says:
    1228162407

    Woo-hoo!! ::doing the happy dance::

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