Updated Household Debt Snapshot

Here is an updated snapshot of our current debt (all mortgages on our primary and rental properties). The last debt breakdown I provided was back in April 2010 with a total of $377,596.

Loan

Description

House

Current Balance

Matures

1

5.6% 30yr fixed

House #1

$68,302

Aug-31

2

HELOC @ 3.25% var.

House #1

$25,225

Aug-23

3

IELOC @ 4.25% var.

House #2

$8,919

Jul-29

4

4.375% 30 yr fixed

House #4

$253,912

Sep-40

 

 

Total

$356,358

 

Since the last update we refinanced our primary mortgage to a 30yr fixed @ 4.375% and increased the loan amount as much as possible to paydown Loan #1. Recent focus has continued to be concentrated on paying down Loan #1 as that is the best opportunity to significantly shift/reduce our committed monthly cash flow. If interest rates rise then focus may quickly shift to paying down our variable debt.

In the past 11 months it appears as though we have reduced our mortgage debt by about $21k. Assuming there are not more attractive investment opportunities we'll likely continue our focus on reducing our debt to a more comfortable level around $250k.

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Comments (1)


It's all about liquidity. You have way too much debt and money invested in retirement accounts.

Best of luck when things get ugly later this year and the mother of all crashes comes to roost.

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A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
Current Net Worth: $1,701,144

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