Tondar's Daily Rant

Prepare yourself for the writings of Tondar the Destroyer, Baron of Atlanta, Rightful Heir to the Throne of Spain, from whom all babies come. As his will be blogged, so let it be done.

Wednesday, May 30, 2007

MORTGAGE WATCH

I just paid my mortgage again tonight. I know that many of you have been asking about my amortization schedule. Well for my first payment I tossed in an extra $300. Contractually I have 29 years, 11 months. Realistically, that extra $300 knocked two months off my payment and I will have the loan paid off in 29 years, 9 months. Of course, I'm going to kick up that principal payment once I get settled at my job better. But this should be a lesson to all y'all about how to pay off a mortgage and avoid years of costly interest.

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