Half and Half

No, this posting is not about the coffee additive. I still take my coffee (and tea) black and sweet.

This posting is about mortgages. In the life of a homeowner there are three important milestones when it comes to the mortgage. The first is the satisfaction that comes when you have been approved for one. There is also euphoria when the last payment has been made. The third one lies somewhere in the middle. It comes when the amounts being applied to the principal and to the interest are the same. After that the majority of the payment will be applied to the principal (and not that bloody interest!) and it's all down hill after that.

Well, for me that middle milestone will be achieved with this month's payment. Yippee!