Daughter 4 update... She get blood work done Wednesday and see the doctor on Friday ( 12th) to discuss results from scan and what surgery ( just ovary removed or all removed) she will be having. She is coming up Monday to get some stuff I have for her and baby Lizzie... not sure if granddaughter will feel up to the ride. She caught the same stomach bug I had... SIGH.
We signed closing on this home 3 yrs ago today.
First one is what was taken for the realtor to advertise, the second one in 2019 when we got the fence up.
We have 117.5 things left on the punch list.
We have 26 years left on the mortgage.
We have been paying extra on the mortgage so we got it down an extra year but as of yesterday we decided to "take the hit"
LORD BE WITH US as it's going to be squeaky tight around here.
We decided that starting June 1st that ALL of our social security and my IRA income from Daddy's to go to the mortgage. These are 3 incomes we never counted on when planning our retirement. I didn't think Daddy would out live his income let alone that he had that much income and we never counted on Social Security to be there when we did retire.
Hubby is going to put back what he was short this year during the pandemic ... how many of us started a brand new business in a brand new area in a pandemic??? ALONG with buying 2 new trailers and a new truck and all the costs of driving numbers (DOT AND MC #) and business start up with legal stuff SIGH and run it 9 months instead of 12. I am surprised he was only short $150/ month. and that included buying 2 sets of tires for trailers and 3 sets for truck. He now puts semi tires that hold up a lot better on the truck. He needs a third more to have what he needs and since I just did the business bills I know he can pretty much get that this month. He went back to work Saturday. THANK HEAVENS as he was starting to bug me by watching me.
Our loan officer suggested using this site to see how extra payments would affect the loan
https://www.daveramsey.com/mortgage-payoff-calculator
SO I put the amounts in started with just the extra payment, added my social security, then my IRA and then Hubby said add his social security.
Original date of pay off was April 1st 2048.
We have already cut a year off that so April 1 2047.
By starting June 1st 2021 and paying all the extra amounts...both social securities , extra payment in budget and my IRA....
Pay off date would be Sept 1st 2024 and last payment $87.42. ..
Kids are backing us on this which helps.
Got to get around for physical therapy... yep should be able to handle a mild work out LOL
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Nice update on daughter, when is her surgery? Also, I'm astonished about the house payoff being only 3 1/2 years away. Way to go. And the way you and your husband hustle I absolutely know you will do it. The two of you love work like no one I have ever known.
ReplyDeleteI know you're glad your own surgery is behind you, and you can get on with life.
I like seeing pictures of your sweet little farmette.
Wow, how huge to pay it off in three plus years! Way to go! What an adventure ;). But it will set you free in 2024
ReplyDeleteAwesome plan to pay off the mortgage. I too have been paying a lot extra. The plan is to continue paying an extra $900 per month. If we can continue, it will be paid in full April 2023. This is also when hubby reaches full retirement age. He can then retire or go to part time if he chooses.
ReplyDeleteGlad to hear you are healing and able to get around.
That new payoff date certainly looks better to me! Three years is nothing when things are going well. Good luck.
ReplyDeleteThat is a wonderful that you could pay it off that fast. We always paid more on our mortgage. But I did so many stupid things with money I wonder sometimes if it counted.
ReplyDeleteTo have your mortgage paid of in around 3 1/2 years will be absolutely AWESOME! Imagine the peace of mind you will feel with that debt off your shoulders, not to mention knowing that the house is yours. I am really excited for you and look forward to reading about your progress. Good Luck!
ReplyDeleteWhoo hoo..I believe you guys can do it! It will give you so much freedom but until then..boy it does sound tight.
ReplyDeleteSounds like you a getting some better too. Good news.
That would be awesome to have the mortgage paid off in 3 years as opposed to 26 years!WOW!
ReplyDeleteHope your daughter gets a good report, and I hope you are healing well.