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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 |
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.
by 2million on
09/12/11
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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
Posted by Anonymous | September 21, 2011 10:25 PM