Mortgage Race

I spent last week at the Financial Blogger Conference.   Saturday night was the big debauch, a 90s themed hip-hop dance party.

Yeah.

Instead, Crystal, Suba, and I hosted a super-secret pizza party to let some of the less “dance party” inclined attendees discuss things like the sanitary concerns of group body shots, sex toys, and horror movies.

During the course of the party, Crystal and I decided to race to pay off our mortgages.

Her balance is just under $25,000.

My balance is $26,266.40.

We both technically have the cash to pay off the balances right now, but we are both dealing with secondary housing issues.  She’s building a new one, and I’m updating an inherited house.  Neither of us is willing to use our cash reserves to pay off the balance right this moment.

Now that my credit card is paid off, I’ve moved that money to an extra interest-only payment on my mortgage, effectively doubling my mortgage payment, which puts my projected payoff date as about the end of next year.   Crystal’s aiming for June, so I’ll have to hurry.

We do have tenants lined up for February, and all of the non-expense related rent will go to the mortgage.

I think I can win.

Update:

I forgot to mention the terms of the bet.   The loser has to go visit the winner.  When I win, Crystal’s going to fly to Minnesota to experience snow.

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  • 9 comments

    Comments

    1. I am not a snow person. When I win, Jason will be coming to experience the excellent heat and humidity of Houston, TX. 😀

    2. Sorry Crystal… I am rooting for Jason on this one since I want you to have to experience Snow. Haha! By the way, I am aiming for my mortgage payoff in about a month so does that mean you both have to come visit me? We have some snow in Ohio, too, so we can still watch Crystal’s reaction. Haha!!!

    3. This sounds like a fun challenge to follow and both of you will end up winners as you get paid of mortgages and a friendly visit!

    4. Good luck you two!

      It was nice spending some time with you at the conference. Sorry I missed out on the pizza party (but it was an honor to get a super-secret invite;)).

    5. Good luck! Just found your blog. I hope you post more about this rental property. I’m very interested in that topic right now.

    6. My mortgage has been paid off since 93 – so both of you get to come to KC!!!!!

      Thanks for the fun meetup. It was great!

    7. I am rooting for Jason as well. I want to see a video of Crystal playing in the snow!

    8. I cheer for Jason to win so you can come to Minnesota, we can get all the Minnieapple bloggers together for a pre-FINCON13 meetup!

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