I am happy to announce that we have begun our 2nd mortgage payment plan. We used $191 from my wife's commission check this month to make an extra payment to the principle. I know, it might not seem like much, but we have only paid down $637.49 in 2nd mortgage principle since we refinanced a year ago. Taken in that context, this extra $191 payment is the equivalent of 4 months of regular monthly payments.
And it doesn't stop there. We plan to make another $1700 payment to principle this month using my extra paycheck. This will get our 2nd mortgage payment plan off to an awesome start for 2008.