Household Debt Snapshot September 2011

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 March 2011 with a total of $356,358.

Loan Description Property Balance Payment Matures
1 5.6% 30yr fixed House #1 $62,612 $1,022 Aug-31
2 HELOC @ 3.25% var. House #1 $25,990 $75 Aug-23
3 IELOC @ 4.25% var. House #2 $7,304 $100 Jul-29
4 4.375% 30 yr fixed House #3 $252,137 $1,508 Sep-40
5 5.0% 30 yr fixed House #4 $122,250 $996 Sep-41
Total $470,293 $3,701
Payment = Monthly Payment, including taxes + insurance escrow if collected

Since the last update we purchased another rental property in August 2011 and continued to whittle at the main mortgage on Rental #1. Our focus is to concentrate on eliminating Loan #1 to reduce our committed cash flow. I recognize there are other opportunities to invest with a higher rate of return elsewhere, but beginning to feel our priority in the short term is improving our cash flow.

In the past 6 months it appears as though we have reduced our mortgage debt (excluding the new property and mortgage obtained) by about $8.3k. Once we payoff Loan #1 we will likely evaluate other more attractive investment opportunities, otherwise we'll likely continue our focus on reducing our debt to a more comfortable level around $350k.

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Comments (1)


I may have missed it, but what is your current income from employment and your wifes current income from employment? -- if it's listed somewhere please let me know ... trying to get an idea on how you are able to save and etc

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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: $1,574,185

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