While our second mortgage isn’t a balloon one

It is at a lot higher interest rate than our first mortgage and there is less than $10,000 separating the two in balance. So by the time we get to the mortgages later this year I may move the second one up for two reasons:

1) The 3.9% difference in interest—I know DR says not to look at that, but on around $40,000 that is a lot of money to consider (roughly $300 per month)

2) Once the second is gone we can put the full amount against the first, where if we pay off the first before the second because it is the lower of the two we could only put part of that snowball money on the second because we would still have to come up with the money each year for the things escrow normally covers.

If I had a balloon looming I’d definitely add it into the snowball and kill it fast because while $6,000 doesn’t sound like much it could be huge in 2020—life happens.