With our March prepayment of an extra $415 towards our principal, our mortgage (on our primary home) is now below $265,000. Whoo-hoo!
I like to imagine us being debt free and no longer having a mortgage payment. [As an aside I don't include our investment properties as our personal debt regardless of the fact that it is personal debt.] At our present pace, our mortgage will be paid off in 14 years, which is 7.5 years ahead of schedule, and that is just with an extra $415 a month. If we upped our extra principal prepayment we could have our mortgage paid off in 10 years.
When I start thinking this way, I really get excited about paying down our debt and start seriously contemplating funneling extra money to the debt rather than savings.