This month I’ve made progress on my path lined out here. I’ve continued to make the minimum payments on my student loans and rental house mortgage while saving for my upcoming the wedding. Slow and steady following the course has brought me much closer to my goal.
My student loans are broken up into several smaller individual loans from anywhere between $800 to $4,000. As these start to get paid off one by one I’ll be able to throw more at the others. All and all I’m hoping to have these dead weights dropped off by this time next year.
The mortgage on my rental house leaves me with just over 12% equity on the property. After the student loans are paid off I plan to pay down the principal until I hit that 20% mark and the PMI drops off. At that point, depending on where interest rates are I may refinance, or continue to pay down the mortgage until it is paid off.
Student Loans Remaining: $23,517.50
Rental House Mortgage: $111,112.44
Grand Total: $134,629.94
Change in Debt from last month: $738.98