Welcome to Mommysavers Forums.
Go Back  
Money Matters Personal finance, managing debt, saving and investing


Reply
 
Thread Tools Display Modes

Old 03-20-2008, 02:34 PM   #11
Default  
meghannsnanny
Mommysavers Goddess + Approved Trader
 
meghannsnanny's Avatar
 
Last Online: 11-09-2009 02:41 PM
Join Date: Jan 2007
Location: Oklahoma
Real Name: Angie
Posts: 2,189
iTrader: (3)
I would love to do this--then I would know I would have a home no matter what. Ours is a 30 yr also. Do you mind if I pm you and ask some more questions about it?
meghannsnanny is offline   Reply With Quote
Old 03-20-2008, 02:49 PM   #12
Default  
MissLucie
Mommysavers Goddess
 
MissLucie's Avatar
 
Last Online: Yesterday 12:26 PM
Join Date: Oct 2007
Location: Chateau de Lucie:)
Real Name: Lucie!
Posts: 2,563
iTrader: (3)
Latest Blog Entry: Rx Reality...
Blog Entries: 9
Quote:
Originally Posted by meghannsnanny View Post
I would love to do this--then I would know I would have a home no matter what. Ours is a 30 yr also. Do you mind if I pm you and ask some more questions about it?
Sure!
__________________
*Jai guru deva om*
Are you a "bag" lady? Great! Join our group and let's chat!
http://mommysavers.com/boards/group.php?groupid=33

MissLucie is offline   Reply With Quote
Old 03-20-2008, 03:59 PM   #13
Default  
KathrynHannah
Moderator
 
KathrynHannah's Avatar
 
Join Date: Dec 2006
Location: Canada
Posts: 7,515
iTrader: (3)
I think it's FANTASTIC that you are taking control of your finances and making decisions that are right for your family.

I just wanted to add that I strongly agree with Kim that these things really need to be in place first. If they are, then I say, "Have at 'em!" which loosely translates into "Go for it!"

Quote:
Originally Posted by Kim View Post
You SHOULDN’T pay down your mortgage early when:
You don’t have a healthy retirement fund in place
You don’t have 6-12 months of living expenses in reserve
You don’t have adequate life insurance and disability insurance for both spouses
KathrynHannah is offline   Reply With Quote
Old 03-20-2008, 04:20 PM   #14
Default  
MissLucie
Mommysavers Goddess
 
MissLucie's Avatar
 
Last Online: Yesterday 12:26 PM
Join Date: Oct 2007
Location: Chateau de Lucie:)
Real Name: Lucie!
Posts: 2,563
iTrader: (3)
Latest Blog Entry: Rx Reality...
Blog Entries: 9
Thanks so much for all of your support. I do have a pretty hefty life ins taken out on me, and my dh does too through his jay owee beee. Heeh
I just wrote out the mortgage check for next month and I already feel better!
__________________
*Jai guru deva om*
Are you a "bag" lady? Great! Join our group and let's chat!
http://mommysavers.com/boards/group.php?groupid=33

MissLucie is offline   Reply With Quote
Old 03-20-2008, 06:11 PM   #15
Default  
SAHMto3boys
Mommysavers Goddess
 
SAHMto3boys's Avatar
 
Last Online: Yesterday 10:14 PM
Join Date: Jun 2007
Location: Oklahoma
Posts: 1,974
iTrader: (0)
Good for you... we hope to move in a year or so and at that point I'm hoping to get a 15 year loan. I LOVE the idea of paying off our mortgage early. Talk about financial FREEDOM!!!
__________________
WE'RE DEBT FREEEEEEEEEEEEEEEEE!!!!

Stay at home mom to my 3 boys... ages 6, 4 & 2!

"I can do all things through CHRIST who strengthens me."
Philippians 4:13
SAHMto3boys is offline   Reply With Quote
Old 03-21-2008, 07:44 AM   #16
Default  
changed4life
Mommysavers Diva
 
changed4life's Avatar
 
Last Online: 11-01-2009 07:12 PM
Join Date: Nov 2007
Posts: 617
iTrader: (0)
Can someone direct me to the thread that discusses the mortgage paydown?
changed4life is offline   Reply With Quote
Old 03-21-2008, 07:58 AM   #17
Default  
KathrynHannah
Moderator
 
KathrynHannah's Avatar
 
Join Date: Dec 2006
Location: Canada
Posts: 7,515
iTrader: (3)
Quote:
Originally Posted by changed4life View Post
Can someone direct me to the thread that discusses the mortgage paydown?
Sure, here it is ... Dave Ramsey on paying off mortgage...
KathrynHannah is offline   Reply With Quote
Old 03-21-2008, 10:50 AM   #18
Default  
T-shell
Mommysavers Goddess
 
T-shell's Avatar
 
Last Online: 11-07-2009 09:23 AM
Join Date: Mar 2007
Location: Alabama
Real Name: Michele
Posts: 2,395
iTrader: (0)
Sounds like a good plan, Miss Lucie. Even though we have other debt we're currently paying, I do contribute a little extra on our mortgage payment each month. It's not a lot, but it's starting to shave off months on our 20-year mortgage. I just wish that we would have done this with our first mortgage (home has been refinanced since then). We would have save more time and $s.
T-shell is offline   Reply With Quote
Old 03-21-2008, 12:53 PM   #19
Default  
MissLucie
Mommysavers Goddess
 
MissLucie's Avatar
 
Last Online: Yesterday 12:26 PM
Join Date: Oct 2007
Location: Chateau de Lucie:)
Real Name: Lucie!
Posts: 2,563
iTrader: (3)
Latest Blog Entry: Rx Reality...
Blog Entries: 9
Anytime is a great time to start I say! The tax rebate check will pay off the whole balance on the cc we have so that's where my $'s going. its a 0% apr card until July, but im done w/ extra baggage and don't intend to acquire anymoreeee
__________________
*Jai guru deva om*
Are you a "bag" lady? Great! Join our group and let's chat!
http://mommysavers.com/boards/group.php?groupid=33

MissLucie is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Members






Sponsors

Mommysavers Channel

Advertisement

All times are GMT -5. The time now is 01:20 AM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.0.0