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Small Steps to Home Equity Payoff

June 19th, 2008 at 11:04 am

Some of you may have noticed that my goal of home equity payoff is going very slow. So far, I have only made regular monthly payments. As a result, I'm only paying about $23 towards principal each month.

Today I have made an extra principal payment of $25. I know it is a bit small. I'm a bit out of shape with debt payoff. The last debt I paid off was about 4 years ago. It's hard to let go of what I feel is extra money...money to hold in my savings account or even spend on something else.

The $25 that I paid today is a symbolic of my desire to really pay off this home equity loan. Did you hear that home equity loan? I'm coming to get you. You are not going to survive my extra payments for long!! There are more to come.

4 Responses to “Small Steps to Home Equity Payoff”

  1. gamecock43 Says:

    good for you! good luck against the evil equity loan. Smile

  2. cindyg86 Says:

    Congratulations! You'll have it paid off in no time!

  3. sagegirl Says:

    Make that HELOC shake in it's boots!! Go for it!! You can do it!

  4. cptacek Says:

    Hey, that $25 just took a month off of your payment plan! Maybe you can trick yourself and at least send in double of what you pay in principal each month. It will gradually get higher and higher and you can really tell the difference.

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