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»  » Just realized: Condo half paid off!
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Just realized: Condo half paid off! |
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| P: 5/9/2008 2:05:47 PM | |
Independent Gal Ideal Rock Total Posts: 5,471 Last Post: 1/3/2009 Member Since: 11/12/2006 |
I finally crossed over to the other side! More of my condo belongs to me than to my mortgage company. Hurray! I'm irrationally REALLY excited about this! 
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| Posted: 5/9/2008 2:05:47 PM | |
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There are 13 replies to this message. There are 13 replies on this page. |
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| P: 5/9/2008 2:25:23 PM | |
erica k Ideal Rock Total Posts: 782 Last Post: 10/30/2009 Member Since: 11/1/2006 |
congrats! that's really terrific news!
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| Posted: 5/9/2008 2:25:23 PM | |
| P: 5/9/2008 7:00:49 PM | |
scarleta Ideal Rock Total Posts: 1,545 Last Post: 9/20/2009 Member Since: 2/25/2006 |
So happy for you.Go and celebrate..Great news..
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| Posted: 5/9/2008 7:00:49 PM | |
| P: 5/9/2008 8:23:04 PM | |
sna77 Ideal Rock Total Posts: 1,022 Last Post: 7/20/2009 Member Since: 11/2/2006 |
Date: 5/9/2008 2:05:47 PM Author:Independent Gal I finally crossed over to the other side! More of my condo belongs to me than to my mortgage company. Hurray! I'm irrationally REALLY excited about this! how long have you had your place? We've had ours for a year... its very depressing the first year's interest... I give the bank $4k each month, they knock $200 off the principal. oyyy |
| Posted: 5/9/2008 8:23:04 PM | |
| P: 5/9/2008 8:30:35 PM | |
MC Ideal Rock Total Posts: 8,814 Last Post: 11/22/2009 Member Since: 2/8/2003 |
Congratulations!!!
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| Posted: 5/9/2008 8:30:35 PM | |
| P: 5/9/2008 8:32:11 PM | |
neatfreak Ideal Rock Total Posts: 13,442 Last Post: 11/22/2009 Member Since: 2/17/2007 |
Totally not irrational IG!! Congrats!
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| Posted: 5/9/2008 8:32:11 PM | |
| P: 5/9/2008 10:51:19 PM | |
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Independent Gal Ideal Rock Total Posts: 5,471 Last Post: 1/3/2009 Member Since: 11/12/2006 |
Date: 5/9/2008 8:23:04 PM Author: sna77 Date: 5/9/2008 2:05:47 PM how long have you had your place? We've had ours for a year... its very depressing the first year's interest... I>
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| Posted: 5/9/2008 10:51:19 PM | |
| P: 5/9/2008 10:51:41 PM | |
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Independent Gal Ideal Rock Total Posts: 5,471 Last Post: 1/3/2009 Member Since: 11/12/2006 |
Oops. Forgot half the post. Oyy is right! I bought it almost exactly 2 years ago. Closed at the end of April 2006. I had a large down payment because of some lucky investments. I had double funding in grad school, so socked half of it away and just, well, got lucky with the socks I chose! Since then, I've been throwing down every bit of loose change that comes my way, and since DH moved in, we are making double payments. I'm paying as much as I used to, and he's paying the same on top of it. Plus, we kind of cleaned up in the wedding gift department, so we just threw about 23K down in the last 4 months (wow!) Then the handout from the IRS + an unexpected honorarium for a speaking engagement pushed us over the edge to the bright side. If you possibly can, pay down EVERY CENT as early as possible, because it compounds very quickly as you pay down the principal, and each month you're paying even MORE principal and less interest. But it sounds like you have a much bigger, more expensive place than I do in the first place. 1 bedroom, 860 sq ft over here. Not in NYC, either.
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| Posted: 5/9/2008 10:51:41 PM | |
| P: 5/9/2008 10:52:14 PM | |
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Independent Gal Ideal Rock Total Posts: 5,471 Last Post: 1/3/2009 Member Since: 11/12/2006 |
Thanks for the good wishes everyone! I feel like celebrating! But I'm too sleepy.
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| Posted: 5/9/2008 10:52:14 PM | |
| P: 5/10/2008 12:10:54 AM | |
Diamond*Dana Ideal Rock Total Posts: 6,168 Last Post: 11/20/2009 Member Since: 7/21/2006 |
Good for you, you have every reason to be excited! Congratulations...it will be 100% yours before you know it!
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| Posted: 5/10/2008 12:10:54 AM | |
| P: 5/10/2008 8:09:16 AM | |
cnspotts Cut Rock Total Posts: 398 Last Post: 11/20/2009 Member Since: 1/11/2003 |
Congratulations!!! That is such an awesome feeling! WE've done similarly and we see the end nearing meanwhile we're renovating and updating a bit here there as well. It's all coming together so nicely and we have no intentions of leaving anytime soon. ~~~~~~~~~~~~~~~~~~~~~~~~ |
| Posted: 5/10/2008 8:09:16 AM | |
| P: 5/10/2008 3:40:30 PM | |
LaurenThePartier Ideal Rock Total Posts: 8,169 Last Post: 11/22/2009 Member Since: 3/2/2004 |
Congratulations, IG!!!! What a great feeling that must be! I've been making 150% payments for the past year. I loved the feeling that we've been able to put a visible dent in our loan only one year in. We're still nowhere close to doing as well as you guys, but we kept our investments earning interest, and financed 80/20, as home prices in TX just don't rise as much as they do in other areas of the country. The 20 is very nearly half paid off, and we've dropped $10k on the 80 in just over one year. Still a long way to go, but seeing how well you've done, I think I may bump my payments up another 20% to try and pay off that second in 2 more years. *********************************************** |
| Posted: 5/10/2008 3:40:30 PM | |
| P: 5/10/2008 5:54:26 PM | |
purrfectpear Ideal Rock Total Posts: 3,696 Last Post: 11/20/2009 Member Since: 3/31/2008 |
Color me envious. I pay more than $30K a year just in interest (single income and it's only a studio condo). Sigh, los angeles real estate sucks 
"Style is knowing who you are, what you want to say and not giving a damn." -Gore Vidal |
| Posted: 5/10/2008 5:54:26 PM | |
| P: 5/11/2008 12:18:15 AM | |
pennquaker09 Ideal Rock Total Posts: 1,484 Last Post: 11/21/2009 Member Since: 11/2/2007 |
Date: 5/9/2008 10:51:41 PM Author: Independent Gal Oops. Forgot half the post. Oyy is right! I bought it almost exactly 2 years ago. Closed at the end of April 2006. I had a large down payment because of some lucky investments. I had double funding in grad school, so socked half of it away and just, well, got lucky with the socks I chose! Since then, I've been throwing down every bit of loose change that comes my way, and since DH moved in, we are making double payments. I'm paying as much as I used to, and he's paying the same on top of it. Plus, we kind of cleaned up in the wedding gift department, so we just threw about 23K down in the last 4 months (wow!) Then the handout from the IRS + an unexpected honorarium for a speaking engagement pushed us over the edge to the bright side. If you possibly can, pay down EVERY CENT as early as possible, because it compounds very quickly as you pay down the principal, and each month you're paying even MORE principal and less interest. But it sounds like you have a much bigger, more expensive place than I do in the first place. 1 bedroom, 860 sq ft over here. Not in NYC, either. You know, that's basically the same scenario as me. Because I went to undergrad on scholarship, all the money that my parents had saved for my college didn't get spent. For the first entire year and a half that we lived here, we used my entire monthly pay double towards our mortgage. Nate took on extra work as a general pediatrician and we were about to pay double AND save money. At the rate we were paying would would have paid our house off in 7 years. Sephora is the mothership! - diamondfan |
| Posted: 5/11/2008 12:18:15 AM | |
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