Debt Dumpers - 2017

[DnA2010]

Sort of getting back to Dept. Dumpers. My dh is restoring a 1967 Chevy Chevelle. He took a loan out on it, for the car and parts. We finally have it paid off, so I am applying the payment to my VW Car. I plan on having it paid off in one year. I was already paying $1100 a month, when the payment is $430. So my payment will be a little over $1500.
Snowballing does work. I also make an extra $1,000's a month to our mortgage.
I just read a mortgage calculator, if I apply another $420 to our mortgage each month, I can knock off another 5 years.
So next year, I can start hitting our mortgage payments harder.
6 years ago, we were $112,000 in debt with credit cards, student-parent loans, car loans and mortgage.
So it does take work and time.
We are now down to car loan and mortgage.

That's brilliant! I upped our mortgage a couple of years ago when I played around with a calculator and figured out how many years could be saved if we upped it. Once I am back to work, we need to do a really good review of things and make sure we are doing all we can here. We also only have mortgage- all other debt gone- it was hard but we cut travel, extras etc although our outstanding mortgage is a LOT more than 112K- house prices here are insane- 400K-500K for a family home

 

[EilonwyWanderer]

House prices are even worse where I am. You'll pay around $350k for a one bedroom condo! And if I put what we paid for daycare every month into our mortgage we'd pay it off in two years! As it is, we've got like 15 more to go.

Oh well, I just tell myself we're going to be good at saving for college...

 

[OhMari]

That's brilliant! I upped our mortgage a couple of years ago when I played around with a calculator and figured out how many years could be saved if we upped it. Once I am back to work, we need to do a really good review of things and make sure we are doing all we can here. We also only have mortgage- all other debt gone- it was hard but we cut travel, extras etc although our outstanding mortgage is a LOT more than 112K- house prices here are insane- 400K-500K for a family home

Living in the midwest has it's perks, but we also get paid a whole lot less. We bought our first home for $33,000. We sold it for $133,000-28 years later. But our wages in the mid-west are a whole lot less too. But my dd lives in Chicago-and she and her husband paid that for a home. They live 10 minutes from downtown Chicago. So not all of the Mid-west in treated equally.

 

[AmyAnne]

I SO want to spend time seeking out some of those places. But ... DM (Disney Mom?) is diabetic, on a salt-restricted diet, and can't eat much/many breads or starches (no potatoes), no fried foods (no french fries), lean proteins (no cheeseburgers), etc. Couple that with the 10 days of car travel, from 4 - 8 hours each day, and we AREN'T looking to do much exploratory eating. There's always the next trip, though.

Just wondering - where DO you eat when traveling with your mom? We try to eat low carb generally and find that challenging enough when traveling.

 

[DnA2010]

House prices are even worse where I am. You'll pay around $350k for a one bedroom condo! And if I put what we paid for daycare every month into our mortgage we'd pay it off in two years! As it is, we've got like 15 more to go.

Oh well, I just tell myself we're going to be good at saving for college...

Crazy isn't it! I watch the show Househunters and I can't believe the homes that some people get for 100-200K! I would def be able to travel more if my mortgage alone wasn't like $2500/month!

 

[OhMari]

Crazy isn't it! I watch the show Househunters and I can't believe the homes that some people get for 100-200K! I would def be able to travel more if my mortgage alone wasn't like $2500/month!

Ya, there are homes around me for that price, a brand new home across the street has been sitting for a year. They want $270000. It is only 1700 square feet. You can drive a mile down the road and get a 3500 square foot home for the same price. People want more room for their money. But people also want money for really older homes. You can pick one up for $80,000, stick another $80,000 in it, but you will not get your money back out, it will stay at $80,000.

 

[Dentam]

Here a 1,700 sq ft house would go for over $500,000 - and in my neighborhood it would be over 100 years old. Basically all I could afford to buy here would be a condo under 1,000 sq ft and that would be over $200,000.

 

[momtosam]

Sort of getting back to Dept. Dumpers. My dh is restoring a 1967 Chevy Chevelle. He took a loan out on it, for the car and parts. We finally have it paid off, so I am applying the payment to my VW Car. I plan on having it paid off in one year. I was already paying $1100 a month, when the payment is $430. So my payment will be a little over $1500.
Snowballing does work. I also make an extra $1,000's a month to our mortgage.
I just read a mortgage calculator, if I apply another $420 to our mortgage each month, I can knock off another 5 years.
So next year, I can start hitting our mortgage payments harder.
6 years ago, we were $112,000 in debt with credit cards, student-parent loans, car loans and mortgage.
So it does take work and time.
We are now down to car loan and mortgage.

Ah, DH's car in high school was a '67 Chevelle. Good times!

 

[OhMari]

Ah, DH's car in high school was a '67 Chevelle. Good times!

We have 2. I will take pics tomorrow.

 

[ruadisneyfan2]

Thanks for the info. We are taking a bus tour from our hotel. The total tour is 14 hours. We are picked up from our Vegas hotel around 7:00 am and returned at 9:30pm. No way I could drive those unfamiliar roads on my own. That was a concern of mine and the reason why I hesitated to visit the GC on my own. Found a groupon for a tour company that has great reviews.

Trust me, if you can drive the roads in our area, you can drive out there. It's a breeze compared to 295 or Rt. 70. Dreamy compared to Rt. 130! Rent a car and just bring your GPS or the mobile charger for your phone and use google maps. It's a nice ride and you can stop when you want. Plus save $$$$$

 

[dina444444]

Ya, there are homes around me for that price, a brand new home across the street has been sitting for a year. They want $270000. It is only 1700 square feet. You can drive a mile down the road and get a 3500 square foot home for the same price. People want more room for their money. But people also want money for really older homes. You can pick one up for $80,000, stick another $80,000 in it, but you will not get your money back out, it will stay at $80,000.

A house of that size around where I live would sell for minimum of $500k and that's only if it's a townhouse. The larger ones you wouldn't see on the market in the nicer areas for under $1.5-2 million.

 

[DLgal]

Our rental house is a 1800 sq ft condo. It sold brand new 2 years ago for $785K. The same models on our steeet have recently sold for $925K.

#renters4life

 

[ruadisneyfan2]

Sort of getting back to Dept. Dumpers. My dh is restoring a 1967 Chevy Chevelle. He took a loan out on it, for the car and parts. We finally have it paid off, so I am applying the payment to my VW Car. I plan on having it paid off in one year. I was already paying $1100 a month, when the payment is $430. So my payment will be a little over $1500.
Snowballing does work. I also make an extra $1,000's a month to our mortgage.
I just read a mortgage calculator, if I apply another $420 to our mortgage each month, I can knock off another 5 years.
So next year, I can start hitting our mortgage payments harder.
6 years ago, we were $112,000 in debt with credit cards, student-parent loans, car loans and mortgage.
So it does take work and time.
We are now down to car loan and mortgage.

Amen! I'm a believer!! I loooove the snowball method!
Just today I paid off our Parent Plus Loan that was $15,000 last summer.
The only debt we have left besides our mortgage is a HEL for the addition we put on our home last summer and I cosigned a car loan for ds20. That is down to around $7000. He does need reminders but he is such a saver, he just sends it right over when I tell him to. Maybe I'll have him set a reminder on his cell phone.

 

[ruadisneyfan2]

Our rental house is a 1800 sq ft condo. It sold brand new 2 years ago for $785K. The same models on our steeet have recently sold for $925K.

#renters4life

 

[Ngwira]

Just saved $138 on our flights to vegas by checking Southwest Airlines tonight. Our flight dropped in price and we were promptly refunded.

 

[Ngwira]

Any recommendations for excellent buffets in Vegas?

 

[DawnM]

Since we are bringing up trips.

We are heading out to Arizona and California this summer. My parents are in Arizona and can't travel anymore. We will go visit them, go to the Arizona stuff.....Grand Canyon, etc.....and then head over to CA to see friends and look at houses. We are moving back to CA, but probably not until 2018.

Speaking of house prices......my friend just sent me a link to her neighbor's house, 1200 sq. ft. for $800K and multiple offers within 4 days. Yikes.

We have an area we are going to scope out that is a bit less. We will see. But it will be a LOT.

 

[DisneyMandC]

Our rental house is a 1800 sq ft condo. It sold brand new 2 years ago for $785K. The same models on our steeet have recently sold for $925K.

#renters4life

We paid 245k for 17 acres with a 1200 sq ft house on it. Can't believe some of these house prices!

 

[Miss Whimsy]

ugh, moving is expensive. I wanted to sign up for the Princess Half next week but I don't know if that's an option anymore.

 

[DLgal]

Speaking of house prices......my friend just sent me a link to her neighbor's house, 1200 sq. ft. for $800K and multiple offers within 4 days. Yikes.

We have an area we are going to scope out that is a bit less. We will see. But it will be a LOT.

It's like houses here go to the highest offer. People are so desperate to buy that they often end up paying $25-75K OVER asking price.

It's nuts...