D and I are at an interesting crossroad with our mortgage prepayments. Once in a while I will run some amortization tables to see if we are on track or ahead of the game.
Today's tables point out something interestingly tempting.
If we stop doing prepayments on our 2 mortgages, when our 5 yr term ends in Sept/2012 and May 2013, our main house will have owing $35535 and the ski condo will owe $2748.
The remaining ski condo balance will be paid off easily at the time without need for renewal. The main house's amount isn't necessarily large enough to renew. It is about the size of a line of credit in my mind which would be an option.
D's preliminary thoughts are to stop prepayments and save the $23100 yearly I put into the main house yearly instead. He feels now that the numbers have shrunk enough, it is a higher opportunity cost to not save our money.
I haven't made up my mind. However, I have made up next year's spreadsheet and am going to think about it for a while. There are still a few weeks left in 2010.