It's finally here. I close on my new home tomorrow. Wish me luck. Hopefully, everything will go smoothly.

Thursday Talkback

Sorry for the lack of posting but buying a new house and renting your old house is very stressful and time consuming. I figured I would throw out a quick Thursday Talkback question...

Do you pay extra towards your mortgage principal? If so, do you pay it monthly or in a lump sum?

I've Got a Renter

I am so glad it is finally over. I hated having unknown people calling me during the day. Finally, I was able to get a well qualified candidate and obtained the security deposit. I think this one is promising as she asked if I would consider selling the property.

I may have a renter!

I had someone come by today to look at me property for rent. I've been getting a few calls from students at the local college but none have really impressed me. Today, I had a really nice gentleman come look at the house. 50 years old, ex military, 2 kids ages 15 and 7. He is getting a divorce and he and his ex-wife will be selling their home. He really liked the property and seems to be a good fit. He is supposed to be closing on the house next week so he will call me tomorrow to discuss everything further.

I am really excited and hope he moves in. He even asked if I minded if he put carpet in the basement at his cost. Do I mind? Heck no, right now its just a concrete floor. I had planned to put tile down there but if he puts in carpet, I can save $400-500 bucks.

1 Year Comparison

I decided I really wanted to go back and see what changes I've made since I really started to track my finances in March 2005.

Assets
March 2005 - $234254.00
March 2006 - $240397.08 (as of 3/11/06)
Change - 2.62%

Liabilities
March 2005 - $227265.04
March 2006 - $210386.51 (as of 3/11/2006)
Change - 7.43%

I'm pretty happy to see the numbers going in the right direction (assets up and liab down) but feel I should at least have had a double digit change in liabilities.
It will be interesting to compare March 2005 with March 2007 and so forth.

Thursday Talkback

Just a simple question for today: financial freedom or world peace?

Anyone that has an 80/20 or an 80/15/5 mortgage...is the second mortgage payment also due on the first or does the second mortgage have a different due date?