Home Mortgage (2 Viewers)

[luckbox]

Wife just texted me. House is paid off as of today. Pretty cool.

congrats on that

make sure your mortgage company sends you a satisfaction letter or the actual note/mortgage marked are paid, then go to your county land records and record that paid off note.....you could call your mortgage company and ask them if they record it as paid but dont count on it as they are not going to take the time to do it most cases....so if you do decide to sell or die some day, nobody will be running around looking for the original paid off note in a panic....its not the end of the world but just take the time to do it now, so it is done...

sounds like you have been on the right track for years, keep it up.....(y) :thumbsup:

 

[Brent Swisher]

Congratulations! That is huge accomplishment, we were able to pay our home off about 6 years ago. Of course we then went out and bought 125 acres, so we still have a payment.....

Well done sir, enjoy the financial freedom this will bring you.

 

[12thMan]

we then went out and bought 125 acres

My dream, congratulations to you.

 

[AdamAAAA]

Nice one! Congratulations. It is a lovely feeling. My last apartment we owned outright with no mortgage but then bought a big house (to accommodate pets and possible children)

But what is all this with 15 year mortgages!? Mine on this house has another 24 years to run, and my fixed rate expires next year. However, rumours are the Bank of England are dropping the base rate to 0% which should mean lower mortgage rates for me from next year, although my current one is 1.79% -- brexit wasn't all bad...

Still, 24 years to go then I'll be mortgage free, again...

 

[detroitdad]

Nice one! Congratulations. It is a lovely feeling. My last apartment we owned outright with no mortgage but then bought a big house (to accommodate pets and possible children)

But what is all this with 15 year mortgages!? Mine on this house has another 24 years to run, and my fixed rate expires next year. However, rumours are the Bank of England are dropping the base rate to 0% which should mean lower mortgage rates for me from next year, although my current one is 1.79% -- brexit wasn't all bad...

Still, 24 years to go then I'll be mortgage free, again...

Ours was 30 as well. Paid it off in 16. Extra payments, income tax returns, etc

 

[Chicken Rob]

I bought with a 30 year fixed, but refinanced to 10 years 5 years into the first mortgage. I wish I had the means to buy it with a 10 year mortgage when I started.

 

[mike32]

Just remembered this thread, as of today we no longer have a mortgage either! Paid it off in about 19 years. Other than the credit card we pay in full monthly, I don't owe anybody a damn thing!

 

[ChaosRock]

Just remembered this thread, as of today we no longer have a mortgage either! Paid it off in about 19 years. Other than the credit card we pay in full monthly, I don't owe anybody a damn thing!

Hurray! Well done Mike! You do it right brother, congrats!

 

[Tommy]

Just remembered this thread, as of today we no longer have a mortgage either! Paid it off in about 19 years. Other than the credit card we pay in full monthly, I don't owe anybody a damn thing!

Congrats! What a great feeling? I hope to be there one day. I've been paying a few hundred extra each month on my mortgage.

 

[mike32]

Congrats! What a great feeling? I hope to be there one day. I've been paying a few hundred extra each month on my mortgage.

I paid 1 or 200 extra principal per month for years and that really helps. That plus living a bit below your means is key imo.

 

[Tommy]

I paid 1 or 200 extra principal per month for years and that really helps. That plus living a bit below your means is key imo.

That's about what I started doing 3 years into my 30 year mortgage. After I paid off my truck 2 years ago, I started putting that payment towards the principle too. It's money that I've been doing without for 5 years anyway so I didn't miss it too much.

 

[Poker Zombie]

Just remembered this thread, as of today we no longer have a mortgage either! Paid it off in about 19 years. Other than the credit card we pay in full monthly, I don't owe anybody a damn thing!

Nice bump of a long forgotten thread. Mrs Zombie and I just paid off the house as well. Got the "Paid Off" notice online Monday. Mrs Zombie sent me the text while I was at work, and I "whoo-hoo"ed out loud. Totally unexpected reaction from me. Tonight we celebrate with Ribeyes and champagne.

Our next poker game we put a mortgage payment into the bonus pool.

Like Mike32, we lived well below our means (except when on vacation ) to get here in such a "short" period of time.

 

[detroitdad]

Congratulations Mike.

By the way, lean and I are out celebrating our 29th anniversary.

Doing some midday bar hopping.

 

[AfterTheFact]

 

[krafticus]

I’m jealous. I’ll never pay off my house. :-(

 

[Poker Zombie]

I’m jealous. I’ll never pay off my house. :-(

Patience grasshopper.

Our road was not paved in gold. When Liz and I first met, we lived in an apartment that was so poor, the exterior concrete wall collapsed in the shower, seconds after we stepped out of the tub. Had we still been in the shower we would have either been killed, or at the very least, lost our legs. For months afterwards, we had to go down 2 floors to take a shower in an unheated, vacant apartment without windows. Don't even get me started on what the hallways smelled like, or that the elevator frequently didn't work.

We went from literally zero to middle class-success. If we could do it, anyone can.

 

[krafticus]

Patience grasshopper.

Our road was not paved in gold. When Liz and I first met, we lived in an apartment that was so poor, the exterior concrete wall collapsed in the shower, seconds after we stepped out of the tub. Had we still been in the shower we would have either been killed, or at the very least, lost our legs. For months afterwards, we had to go down 2 floors to take a shower in an unheated, vacant apartment without windows. Don't even get me started on what the hallways smelled like, or that the elevator frequently didn't work.

We went from literally zero to middle class-success. If we could do it, anyone can.

Believe me, it’s complicated... and we’ll never happen until this house is sold. A story for another day on how to ruin ones life

 

[mike32]

Patience grasshopper.

Our road was not paved in gold. When Liz and I first met, we lived in an apartment that was so poor, the exterior concrete wall collapsed in the shower, seconds after we stepped out of the tub. Had we still been in the shower we would have either been killed, or at the very least, lost our legs. For months afterwards, we had to go down 2 floors to take a shower in an unheated, vacant apartment without windows. Don't even get me started on what the hallways smelled like, or that the elevator frequently didn't work.

We went from literally zero to middle class-success. If we could do it, anyone can.

Had “we” still been in the shower....way to go Zombie!

 

[Poker Zombie]

Early dating years... can't beat it (y) :thumbsupy) :thumbsupy) :thumbsupy) :thumbsupy) :thumbsupy) :thumbsup:

 

[detroitdad]

Early dating years... can't beat it (y) :thumbsupy) :thumbsupy) :thumbsupy) :thumbsupy) :thumbsupy) :thumbsup:

Early? your doing something wrong then

 

[Mrs Poker Zombie]

Early dating years... can't beat it (y) :thumbsupy) :thumbsupy) :thumbsupy) :thumbsupy) :thumbsupy) :thumbsup:

Ahem. Early? Are you forgetting our custom two person shower?

 

[allforcharity]

This thread now rated PG-13 for mature themes.

Carry on.

 

[p5woody]

Perfect timing for this thread, our last payment goes out 5/1 and our home will be paid off. We will be completely debt free before we turn 50 this summer.

We do have two kids in college, our son is finishing his Junior year and by daughter is a freshman this year. However, we have already set aside money for college. Our son is just about done and our daughter is getting help from soccer and academic scholarships. My son will have some loans when he graduates, but our daughter should be debt free with some money left over.

 

[Perthmike]

Perfect timing for this thread, our last payment goes out 5/1 and our home will be paid off. We will be completely debt free before we turn 50 this summer.

We do have two kids in college, our son is finishing his Junior year and by daughter is a freshman this year. However, we have already set aside money for college. Our son is just about done and our daughter is getting help from soccer and academic scholarships. My son will have some loans when he graduates, but our daughter should be debt free with some money left over.

Congrats @p5woody. You’ve basically destroyed at life. Your son is very lucky that you’ve set aside money for his college.

I’d love to be able to pull something like that off. Moved in to my first house 3 years ago (took a while to build, which sucked) but had $80k equity on paper as I moved in. I paid $25k off in three years and due to the drop in house prices I’ve basically got $0 equity. Go figure. At least interest rates are low though.

Positive news is that I’m only 30 and was fortunate enough pay for my wedding and honeymoonpaid between my own savings and parental contributions.

Annoyingly, I feel like I’m behind in my life plan. My student loans are paid in full come June, so the plan now is to pay $20k off the mortgage each year for the next 2 or 3 years. It’s

You guys and your 100% home equity shall be my inspiration when I’m wishing I could spend more cash on holidays and chips.

 

[Thomacetti]

First, congrats DD & Mike

Second, threads like these are a real reality check...
Besides that it sucks that be a chipper outside USA, it's really nice to live in Belgium.

No student loans, house market bubble, outrageous medical bills or other financially destructive events.
I'm maybe not the norm but worked hard in school and on the job, now I can profit from that work with a nice salary.
39 years old since yesterday (boooo you all forgot) have 3 awsome kids and a fantastic wifey.

In a few years we will be mortgage free, have healthy savings (now & retirement) and no worries about college funds or medical bills since all schools & care are free.
And we have very good schools & medical care, so it's no compromise....
The only thing that was expensive in my education was my MBA but that bill was paid by my employer.

And ofcourse we also have poor people...but the gap between the two worlds still has a bridge...in the USA and other places not so much

This puts things into perspective next time I whine about shipping cost...

 

[CraigT78]

First, congrats DD & Mike

Second, threads like these are a real reality check...
Besides that it sucks that be a chipper outside USA, it's really nice to live in Belgium.

No student loans, house market bubble, outrageous medical bills or other financially destructive events.
I'm maybe not the norm but worked hard in school and on the job, now I can profit from that work with a nice salary.
39 years old since yesterday (boooo you all forgot) have 3 awsome kids and a fantastic wifey.

In a few years we will be mortgage free, have healthy savings (now & retirement) and no worries about college funds or medical bills since all schools & care are free.
And we have very good schools & medical care, so it's no compromise....
The only thing that was expensive in my education was my MBA but that bill was paid by my employer.

And ofcourse we also have poor people...but the gap between the two worlds still has a bridge...in the USA and other places not so much

This puts things into perspective next time I whine about shipping cost...

Yeah, but, but, your taxes

 

[Poker Zombie]

Everyone pays taxes. We got a kickass military, they get a better standard of living.

 

[davin]

26 years and 440,000 left

 

[Poker Zombie]

26 years and 440,000 left

(n) :thumbsdown: