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  1. 01-15-2007, 11:21 AM #1
    AmyBoz
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    Default Mortgage Interest Makes Me Ill!

    So, we just got our mortgage tax statement for 2006. I seriously felt ill looking at it.

    We pay $2500 a month for our mortgage...the actual payment is closer to $2350 and we pay the extra toward principal.

    So, on the tax statement, it shows that this year we paid a total of $6,845.03 in principal this year and $13,937.53 in interest! It absolutely makes my stomach hurt. Ick, yuck, hate it!
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  2. 01-15-2007, 11:38 AM #2
    Darlene
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    OMG! Can't believe both the interest paid & the ammount of your mortgage.
    ~*Darlene*~
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  3. 01-15-2007, 11:49 AM #3
    dolphin
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    That's a whopping lot of interest!

    Our payments are less than half of yours and the interest paid is still unbelievable! I hate interest too!
    "Success on any major scale requires you to accept responsibity."



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  4. 01-15-2007, 12:07 PM #4
    McD
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    We have only paid on our mortgage since August. The amount we pay is supposed to be 1044, but we always pay 1300 with excess to principal.....3,600$ of that went to interest.
    McD
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  5. 01-15-2007, 12:13 PM #5
    staceyy
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    Join the club! Over the life of your mortgage, several hundred thousand will go towards interest unless you sell your home before the end of the loan term, or you apply a heck of a lot to the principal.
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  6. 01-15-2007, 12:38 PM #6
    Michelle
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    It *is* sickening, isn't it? We paid nearly $11K in interest this past year.
    *~*Michelle*~*

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  7. 01-15-2007, 12:43 PM #7
    JustJoy
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    UGH! It makes me sick too!
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  8. 01-15-2007, 12:50 PM #8
    FrugalMomof3
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    Wow that is alot, for us since our refinancing, we paid $800 to pinciple and $5800+ to interest! Thank goodness come 7/2007 we will be putting an additional $100 + a month towards our principle knocking off a couple years and tons of interest!
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  9. 01-15-2007, 12:50 PM #9
    banana
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    It is sickening! I havent received my statement yet.

    married to my honey
    mommy to one handsome teenager
    mommy to 2 furbabies

    no consumer debt, zero, zip nada

    mortgage - 56,140.96 pay off date 11/2017
    car fund 5,000
    heating unit 0
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  10. 01-15-2007, 12:51 PM #10
    Emerald_Mommy
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    I agree - it's sickening. We have a wonderful interest rate and it's still amazing how much $$$ goes to interest.
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  11. 01-15-2007, 01:14 PM #11
    brenda67
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    Wow........your mortgage payment alone is more then my Dh's take home pay a month.. I guess when we own our own home we will know how you feel..
    Wife to Keith
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  12. 01-15-2007, 01:30 PM #12
    Dancing Lotus
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    We can hardly pay our 1.099.00 payment much less and any extra. It kills me how much of my monthly is just interest.
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  13. 01-15-2007, 02:00 PM #13
    banana
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    Just looked it up online. We paid $6,235 towards principal this year and $4,989 towards interest. I am hoping to add some extra to the principal balance each month depending on our bills.

    married to my honey
    mommy to one handsome teenager
    mommy to 2 furbabies

    no consumer debt, zero, zip nada

    mortgage - 56,140.96 pay off date 11/2017
    car fund 5,000
    heating unit 0
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  14. 01-15-2007, 02:43 PM #14
    wanderlusting
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    ACK! I didn't realize that mortgage interest is THAT much!!!! Thanks for posting this! It'll give me more motivation to put every last cent into my house downpayment fund!
    Wife to Air Force DH for 7 years.
    SAHM to twin boys, Samuel and David!
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  15. 01-15-2007, 03:08 PM #15
    YankeeMom
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    I'm still at the mortgage. That's more than 4x ours.

    I'll get to at the taxes in a second lol.

    Isn't only the beginning years (not sure how many) that the interest at the front end of the loan & then a less towards the end?
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