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Changed My Mind

May 6th, 2007 at 04:49 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.

3 Responses to “Changed My Mind”

  1. moneycents Says:

    Wow sounds like a great goal. Good for you!

  2. JanH Says:

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

  3. Aleta Says:

    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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