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Reply to "How much debt you have? Mortgage and student loans included."
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[quote=Anonymous][quote=Anonymous]How do people have such low mortgage balances in the DC area? Are the people responding people who have owned their homes 20+ years? [/quote] No, I’m the PP with 19k above. I bought another sub 500k property with 10% down and sold it after seven years when it had appreciated. I put the proceeds towards the other mortgage. I also do biweekly payments on a 30 year loan. It will be paid off after 15 years. I also threw a small fraction of some bonuses at the loan. I wouldn’t do this today because property values are so high compared to AMI but about ten years ago it wasn’t so high so it worked.[/quote]
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