In addition to our 2011 savings goals, we had a couple of other financial goals that I documented in this January 2011 post.
I'm pleased to report that we have completed goal number three, which was to get our debt below $600,000. In fact, today when I was updating our NetWorthIQ profile, I calculated that our debt is now at $598,247.
Although our mortgage debt may edge up a bit in the near future because we are working to refinance one of our rental properties and rather than paying the closing costs up front we are rolling those costs into the new loan. But it makes sense to refinance since we will be moving from a 6% plus loan to a 4% plus loan, we are keeping the payoff term the same and our monthly costs, even with the closing costs rolled in will be reduced.