Saturday, September 19, 2009

Another Mortgage

This is the mortgage on the rental property. It used to be our residence until we moved into our current home. We tried to sell the place, but in six months never even got an offer. Now I'm glad we didn't. I had lived there for 17 years, and once the kids are grown and gone and school districts don't mean as much to me, we might move back there. It's smaller and much easier to maintain. And as of right now, we have wonderful tenants. Last month's mortgage balance of $27.723.90 is manageable. The last time I refinanced I put it on a 10 year note with a fixed 4.5% interest rate. It will be paid off in about 4 years and the last payment knocked $528.23 off the principal balance. Today I owe $27,195.67. The only thing that worries me about this one is those two or three days at the beginning of the month waiting for the rent income to show up in my mailbox!

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