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Changed My Mind

May 6th, 2007 at 11:49 am


I've changed my mind on what debt I'm attacking next with my debt snowball. I've decided to roll my credit card payment onto mortgage #1 instead of the car loan. The mortgage has an interest rate of 9.38% and the car loan is 7.09%.

I can have the mortgage paid off in March of '09 at the rate I intend on paying. My challenge to myself will be to pay it off even sooner with extra money I can save and find.

This mortgage is the one that has our taxes and insurance escrowed into the payment. They are the bank that decided they weren't paying our fall taxes and never notified us so we were turned into a collection agency. I'd really like to be done with them as soon as possible.

Posted in Goals, Banking, Paying Off Mortgages | 3 Comments »

3 Responses to “Changed My Mind”

  1. moneycents Says:
    May 6th, 2007 at 05:05 pm 1178471140
    1178471140

    Wow sounds like a great goal. Good for you!

  2. JanH Says:
    May 6th, 2007 at 11:52 pm 1178495577
    1178495577

    After what they did to you, I'd also want to get rid of that one first! Good idea!

  3. Aleta Says:
    May 7th, 2007 at 02:24 pm 1178547842
    1178547842

    I think that's a smart move. Then you'll only have the one mortgage and of course, you'll car will be going down as well with the payments. You'll save yourself alot of interest and that's terrible what they did to you.

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