Sunday, December 22, 2019

Mortgage Balance (UPDATE) - December 2019


If you have viewed our family's Net Worth Page, you probably already know that it does not include the equity in our home.  Although, we do realize that it is technically part of our overall net worth, we decided that since our home equity is not an asset that we can count on for income (unless we sell and buy something cheaper) we would exclude it from our net worth calculation.

For the purpose of this blog, we are more interested in documenting our loan balance rather than our home equity.  With that said, we will use the current Zillow value as our estimated home value and use it to figure out the percentage we owe on our home. For those interested, we will include the amount of our home equity, but know that we are less concerned with the equity since we have no plans to cash out or otherwise sell our home. Our main goal is to pay off our home on or before my retirement date. 


HOME VALUE:
According to Zillow, our home is currently worth $867,683 (up $5,375 in the last 30-days). 



Mortgage Balance (As of December 1st):
$221,671 (down $1,984 from November post)

Percentage Owed:
25.5% (down .2% since our November post)

Home Equity
$646,012 (up $668 from our November post)
   
Mortgage Background:
For those that have not read the Preface on our home equity, we currently hold a 15-year fixed rate mortgage at the incredibly low rate of 2.875%.  My goal is to retire within 7 years and 6 months (90 months) so we are setting out to pay off our mortgage on or before my retirement date. Right now we are a few months behind the target retirement date. Currently, we have approximately 8 years and 6 months (100 months) left on our mortgage. Nevertheless, I would like to have it paid off in roughly 5 years. If we accomplish that, I plan to use the money we use to pay our mortgage and aggressively build our passive income to help supplement our retirement and defer tapping into the 457K for as long as possible so it can continue to grow. 

Right now we are not putting any extra money towards the principal given our low 2.875% interest rate. We feel that we could make our money grow faster by investing it and while keeping the money more liquid. At a certain point, we may consider using some of the money from our investment accounts to wipe out the remaining mortgage balance.  Until then, we will continue to grow that money outside, rather than have it locked into our home.

8 comments:

  1. AFFJ -

    Looks like you'll be crushing below $200k next year, looking forward to seeing that threshold cracked.

    -Lanny

    ReplyDelete
    Replies
    1. Hi everyone are you looking for a professional binary, forex and Bitcoin broker/manager who will guide and help manage your trade and help you earn meaningful profits all within seven days contact Mr Barry Silbert now for your investment plan. For he has helped me to earn 10,250 USD just with a little investment capital and with the aid of his trading software system that brings forth good trading signals i was able to trade and cash out on time and am still trading with him, if you need his assistance on how to recover your lost investment in bitcoin/binary Contact him now on whatsaap +447508298691. or contact him on his email address Email: Barrysilbert540 @ gmail.com. [WITH MR BARRY I BELIEVE THERE ARE STILL GOOD INDIVIDUALS WHO STILL HAVE GOOD INTENTION TO OTHERS. ONCE AGAIN THANKS MR BARRY.]

      Delete
    2. Hi everyone are you looking for a professional binary, forex and Bitcoin broker/manager who will guide and help manage your trade and help you earn meaningful profits all within seven days contact Mr Barry Silbert now for your investment plan. For he has helped me to earn 10,250 USD just with a little investment capital and with the aid of his trading software system that brings forth good trading signals i was able to trade and cash out on time and am still trading with him, if you need his assistance on how to recover your lost investment in bitcoin/binary Contact him now on whatsaap +447508298691. or contact him on his email address Email: Barrysilbert540 @ gmail.com. [WITH MR BARRY I BELIEVE THERE ARE STILL GOOD INDIVIDUALS WHO STILL HAVE GOOD INTENTION TO OTHERS. ONCE AGAIN THANKS MR BARRY.]

      Delete
  2. Nice progress. Approaching 650K worth of equity and 3/4ths of the way there. Love seeing the steady progress every month.

    ReplyDelete
  3. I totally agree about your home, all gains or loses are unrealized (paper money).

    ReplyDelete
  4. I am very happy today with my family. My name is rose living in USA, My
    husband left me for a good 3 years now, and i love him so much, i have been
    looking for a way to get him back since then. i have tried many options but
    he did not come back, until i met a friend that darted me to Dr.Larry a
    spell caster, who helped me to bring back my husband after 48hours of contacting him. Me and my husband are living happily together today, That man is great, you can contact him via email assurancesolutionhome@gmail.com  Now i will advice any serious persons that found themselves in this kind of problem to contact him now a fast solution without stress.. He always there when you need him, now i call him my father. contact him email assurancesolutionhome@gmail.com or whatsapp number +1(424)-261-8520 Website: http://assurancesolutioncenter.website2.me/  





    I am very happy today with my family. My name is rose living in USA, My
    husband left me for a good 3 years now, and i love him so much, i have been
    looking for a way to get him back since then. i have tried many options but
    he did not come back, until i met a friend that darted me to Dr.Larry a
    spell caster, who helped me to bring back my husband after 48hours of contacting him. Me and my husband are living happily together today, That man is great, you can contact him via email assurancesolutionhome@gmail.com  Now i will advice any serious persons that found themselves in this kind of problem to contact him now a fast solution without stress.. He always there when you need him, now i call him my father. contact him email assurancesolutionhome@gmail.com or whatsapp number +1(424)-261-8520 Website: http://assurancesolutioncenter.website2.me/  

    ReplyDelete
  5. Hi everyone are you looking for a professional binary, forex and Bitcoin broker/manager who will guide and help manage your trade and help you earn meaningful profits all within seven days contact Mr Barry Silbert now for your investment plan. For he has helped me to earn 10,250 USD just with a little investment capital and with the aid of his trading software system that brings forth good trading signals i was able to trade and cash out on time and am still trading with him, if you need his assistance on how to recover your lost investment in bitcoin/binary Contact him now on whatsaap +447508298691. or contact him on his email address Email: Barrysilbert540 @ gmail.com. [WITH MR BARRY I BELIEVE THERE ARE STILL GOOD INDIVIDUALS WHO STILL HAVE GOOD INTENTION TO OTHERS. ONCE AGAIN THANKS MR BARRY.]

    ReplyDelete
  6. Investing online has been a main source of income,that's why knowledge plays a very important role in humanity,you don't need to over work yourself for money.All you need is the right information,and you could build your own wealth from the comfort of your home!Binary trading is dependent on timely signals,assets or controlled strategies which when mastered increases chance of winning up to 90%-100% with trading. It’s possible to earn $10,000 to $20,000 trading weekly-monthly,just file a complaint with  Robert,I had almost given up on everything about binary trading and ever getting my lost funds back,till i met with him,with his help now i have my lost funds back to my bank account and I can now trade successfully with his profitable strategies and software!! Email: Robertseaman939@gmail.com or Fb.me/investandmakemoney1 or  whatsApp: +44 7466 770724

    ReplyDelete