Mon Apr 29, 2013, 05:04 PM
Shrike47 (6,913 posts)
So this morning we paid off our mortgage. We own the house.
I never really thought we'd get there.
![]()
|
83 replies, 24433 views
![]() |
Author | Time | Post |
![]() |
Shrike47 | Apr 2013 | OP |
spanone | Apr 2013 | #1 | |
dipsydoodle | Apr 2013 | #2 | |
spanone | Apr 2013 | #31 | |
dipsydoodle | Apr 2013 | #37 | |
pepperbear | Apr 2013 | #68 | |
Animal Chin | Apr 2013 | #70 | |
ieoeja | Apr 2013 | #71 | |
spanone | Apr 2013 | #82 | |
malaise | Apr 2013 | #3 | |
The Velveteen Ocelot | Apr 2013 | #4 | |
CrispyQ | Apr 2013 | #56 | |
ret5hd | Apr 2013 | #5 | |
HereSince1628 | Apr 2013 | #6 | |
Shrike47 | Apr 2013 | #7 | |
AtheistCrusader | Apr 2013 | #21 | |
Yavin4 | Apr 2013 | #54 | |
zeemike | Apr 2013 | #23 | |
Hekate | Apr 2013 | #73 | |
PD Turk | Apr 2013 | #8 | |
barbtries | Apr 2013 | #9 | |
LiberalEsto | Apr 2013 | #10 | |
Le Taz Hot | Apr 2013 | #11 | |
femmocrat | Apr 2013 | #12 | |
eissa | Apr 2013 | #13 | |
GoneOffShore | Apr 2013 | #14 | |
SamKnause | Apr 2013 | #15 | |
City Lights | Apr 2013 | #16 | |
mnhtnbb | Apr 2013 | #17 | |
Mira | Apr 2013 | #18 | |
Granny M | Apr 2013 | #19 | |
unionthug777 | Apr 2013 | #20 | |
SwankyXomb | Apr 2013 | #22 | |
nilram | Apr 2013 | #69 | |
Posteritatis | Apr 2013 | #24 | |
skydive forever | Apr 2013 | #25 | |
Marrah_G | Apr 2013 | #26 | |
coljam | Apr 2013 | #27 | |
RKP5637 | Apr 2013 | #28 | |
yonder | Apr 2013 | #29 | |
secondwind | Apr 2013 | #30 | |
mahina | Apr 2013 | #32 | |
BumRushDaShow | Apr 2013 | #33 | |
littlewolf | Apr 2013 | #34 | |
Stretch714 | Apr 2013 | #45 | |
reflection | Apr 2013 | #35 | |
DCBob | Apr 2013 | #36 | |
CountAllVotes | Apr 2013 | #38 | |
RiffRandell | Apr 2013 | #39 | |
ArcticFox | Apr 2013 | #40 | |
Spitfire of ATJ | Apr 2013 | #41 | |
Ruby the Liberal | Apr 2013 | #42 | |
Shrike47 | Apr 2013 | #43 | |
Stretch714 | Apr 2013 | #44 | |
greytdemocrat | Apr 2013 | #46 | |
Auggie | Apr 2013 | #47 | |
Auntie Bush | Apr 2013 | #48 | |
Liberal_in_LA | Apr 2013 | #49 | |
Name removed | Apr 2013 | #50 | |
Jazzgirl | Apr 2013 | #59 | |
gopiscrap | Apr 2013 | #51 | |
DocMac | Apr 2013 | #52 | |
JDPriestly | Apr 2013 | #53 | |
Historic NY | Apr 2013 | #55 | |
CrispyQ | Apr 2013 | #57 | |
Bay Boy | Apr 2013 | #58 | |
ellisonz | Apr 2013 | #60 | |
Phentex | Apr 2013 | #61 | |
Myrina | Apr 2013 | #62 | |
onestepforward | Apr 2013 | #63 | |
Shankapotomus | Apr 2013 | #64 | |
Arugula Latte | Apr 2013 | #65 | |
War Horse | Apr 2013 | #66 | |
nessa | Apr 2013 | #67 | |
Hekate | Apr 2013 | #72 | |
Prophet 451 | Apr 2013 | #74 | |
ErikJ | Apr 2013 | #75 | |
Baitball Blogger | Apr 2013 | #76 | |
Paper Roses | Apr 2013 | #77 | |
Danmel | Apr 2013 | #78 | |
Bertha Venation | Apr 2013 | #79 | |
AnneD | Apr 2013 | #80 | |
Walk away | Apr 2013 | #81 | |
gopiscrap | Sep 2013 | #83 |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:05 PM
spanone (134,451 posts)
1. congrats! did it around 13 yrs ago.
Response to spanone (Reply #1)
Mon Apr 29, 2013, 05:06 PM
dipsydoodle (42,239 posts)
2. Same here
Does feel nice - don't it.
|
Response to dipsydoodle (Reply #2)
Mon Apr 29, 2013, 06:41 PM
spanone (134,451 posts)
31. sure does, until that property tax bill comes around...
![]() |
Response to spanone (Reply #31)
Mon Apr 29, 2013, 06:59 PM
dipsydoodle (42,239 posts)
37. That differs here
my council tax is £1400 a year which is less than the poll tax was early nineties. Please don't ask me to explain how our councils make up that difference.
![]() |
Response to spanone (Reply #31)
Tue Apr 30, 2013, 02:09 PM
pepperbear (5,565 posts)
68. but wasn't that property tax bill coming around when the mortgage was due anyway?
![]() |
Response to pepperbear (Reply #68)
Tue Apr 30, 2013, 02:14 PM
Animal Chin (175 posts)
70. It probably just went to the mortgage company
Which rolled it into the monthly payments.
|
Response to pepperbear (Reply #68)
Tue Apr 30, 2013, 02:29 PM
ieoeja (9,748 posts)
71. Roughly half my mortgage payment went to taxes and insurance.
Still, it did cut my "mortgage" in half when I paid it off. Just one of many costs average Americans have to bear because of the Reagan tax shift from federal income to state and local taxes. |
Response to pepperbear (Reply #68)
Tue Apr 30, 2013, 05:21 PM
spanone (134,451 posts)
82. sure, but it's incorporated into your monthly payments, so you don't feel the pinch the same.
once i paid off my house, i get a yearly bill from the city...one lump sum.
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:08 PM
malaise (261,584 posts)
3. Congrats
Nice feeling
![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:09 PM
The Velveteen Ocelot (111,603 posts)
4. Did that about 18 month ago.
It's a huge relief. My house is small and old and dumpy, but at least it's mine.
|
Response to The Velveteen Ocelot (Reply #4)
Tue Apr 30, 2013, 12:00 PM
CrispyQ (34,968 posts)
56. Your house sounds like my house!
"...small and old and dumpy, but at least it's mine."
![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:11 PM
ret5hd (19,826 posts)
5. It's a damn good feeling, isn't it?
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:14 PM
HereSince1628 (36,063 posts)
6. Well done. Now, can I interest you in a rennovation loan? reverse mortgage? maybe just
some money for that vacation that you never had because of all those house payments?
|
Response to HereSince1628 (Reply #6)
Mon Apr 29, 2013, 05:18 PM
Shrike47 (6,913 posts)
7. Thank you, no. No.
And please stop sending me those blank checks in the mail that I can fill out in a flash and borrow $5,000!
![]() |
Response to Shrike47 (Reply #7)
Mon Apr 29, 2013, 05:57 PM
AtheistCrusader (33,982 posts)
21. I had to harass my bank into not sending those to me.
I can just see some jerk stealing them out of my mailbox...
|
Response to AtheistCrusader (Reply #21)
Tue Apr 30, 2013, 11:41 AM
Yavin4 (34,694 posts)
54. Good move. That happened to me.
After finishing school, a credit card offer came to me in the mail. Someone dumpster dove and got a credit card in my name which they used to buy jewelry.
Took paying an attorney $1,000 to get that debt expunged from my record. |
Response to Shrike47 (Reply #7)
Mon Apr 29, 2013, 06:00 PM
zeemike (18,998 posts)
23. Well then how about a reverse mortgage then?
Just think...they will send you a check every month so that you can fill that house with the junk you always wanted.
surly there must be something... |
Response to Shrike47 (Reply #7)
Tue Apr 30, 2013, 02:37 PM
Hekate (86,346 posts)
73. God, I hate those things
I'm with you all the way. No, no, and no.
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:21 PM
PD Turk (1,289 posts)
8. Congrats!!
Paid off ours a few years back, it's the greatest feeling in the world!!
![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:30 PM
barbtries (28,364 posts)
9. congratulations.
enjoy!
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:31 PM
LiberalEsto (22,845 posts)
10. How wonderful!
Congratulations!
![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:31 PM
Le Taz Hot (22,271 posts)
11. Wow!
Congratulations! I'm not sure if I'll live long enough to see mine paid off but we just keep chugging along at it.
![]() ![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:32 PM
femmocrat (28,394 posts)
12. Congratulations!
I bet you feel like you hit the lottery!
![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:36 PM
eissa (4,220 posts)
13. What a rare achievement these days
Congrats
![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:40 PM
GoneOffShore (17,140 posts)
14. We did that a couple of years ago.
Congratulations!
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:45 PM
SamKnause (12,856 posts)
15. House
Congratulations.
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:47 PM
City Lights (25,171 posts)
16. Congrats!
![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:51 PM
mnhtnbb (30,846 posts)
17. Congrats to you! Great feeling, isn't it?
When we decided to rebuild--after the fire--we were determined to do it without a mortgage.
Boy. It was tough, but we did it. SO glad. Hubby just retired from doing clinical work and it's going to make a HUGE difference to not have a house payment. ![]() ![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:52 PM
Mira (22,359 posts)
18. What an incredibly happy day.
The load off your shoulders is phenomenal. I'm so happy with you!
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:54 PM
Granny M (1,395 posts)
19. Well done!
Wishing you many happy years in your home.
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:55 PM
unionthug777 (740 posts)
20. congrats !!!
best wishes to you !!!
![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 05:59 PM
SwankyXomb (2,030 posts)
22. Expect Bank of America
to foreclose on you any day now.
![]() |
Response to SwankyXomb (Reply #22)
Tue Apr 30, 2013, 02:10 PM
nilram (2,811 posts)
69. haha, just what I was thinking
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:05 PM
Posteritatis (18,807 posts)
24. o/` [victory fanfare!] o/` (nt)
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:09 PM
skydive forever (429 posts)
25. That was the day we went out for a steak dinner
Congrats.
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:10 PM
Marrah_G (28,581 posts)
26. Congrats!
and keep all your paperwork!!!!!!!!
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:11 PM
coljam (188 posts)
27. Been There did that
Congrats......
In my neck of the woods we pay 10,000 in real estate taxes sorry you just cant win |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:21 PM
RKP5637 (66,467 posts)
28. Congratulations!
![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:25 PM
yonder (9,405 posts)
29. congratulations!
It's a great feeling and welcome relief. We paid ours off in 2008. Just in the nick. of. time.
Congrats again! |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:34 PM
secondwind (16,903 posts)
30. very happy for you!
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:42 PM
mahina (16,716 posts)
32. Awesome!
Congratulations, that is great!
I'll get there one day... |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:46 PM
BumRushDaShow (118,271 posts)
33. Happy Dance!!!
![]() ![]() ![]() ![]() ![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:56 PM
littlewolf (3,771 posts)
34. congrats ! expect to do that this year ...
30 year mortgage ... did it in 20 ... one extra payment per year ...
|
Response to littlewolf (Reply #34)
Mon Apr 29, 2013, 07:32 PM
Stretch714 (90 posts)
45. Same way we did it. nt
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:56 PM
reflection (6,286 posts)
35. Congratulations! Right behind you.
Debt = slavery. I don't like debt.
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:57 PM
DCBob (24,689 posts)
36. must be nice... congrats!
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 06:59 PM
CountAllVotes (20,683 posts)
38. Congratulations!!!
Good on you!
I did the same myself as soon as I could. My house was not real expensive nor is it luxurious, but it is MINE and no one can take it away from me as long as I pay the property taxes on it. Insurance is about $450.00 a year. I can handle that! It was a great feeling and I know how you feel! ![]() ![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 07:03 PM
RiffRandell (5,909 posts)
39. That's great!
In August we'll have 7 years to go. It seems like forever, but better than 20 or 30.
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 07:10 PM
ArcticFox (1,249 posts)
40. Be sure to record
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 07:12 PM
Spitfire of ATJ (32,723 posts)
41. Time to paint the front door red!
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 07:14 PM
Ruby the Liberal (26,202 posts)
42. That must be an amazing feeling.
Congrats!
![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 07:21 PM
Shrike47 (6,913 posts)
43. Thanks, everybody.
It's been a long haul but we did pre-pay when we could and that sure helped.
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 07:29 PM
Stretch714 (90 posts)
44. Congrats. My wife and I just sent the payment off last week to do the same.
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 07:33 PM
greytdemocrat (3,297 posts)
46. Fantastic!!!
Well done!
![]() |
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 07:34 PM
Auggie (30,545 posts)
47. Congrats. I'm soooooo jealous.
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 07:43 PM
Auntie Bush (17,528 posts)
48. I'm jealous too. I took out a second mortgage 3 years ago and now I need a third.
I'm in the process of taking out another mortgage because I need emergency work done. Problem is I don't know how I'll be able to handle a larger mortgage payment... but the work has to be done...it isn't an option.
|
Response to Shrike47 (Original post)
Mon Apr 29, 2013, 07:44 PM
Liberal_in_LA (44,397 posts)
49. congrats!!
![]() ![]() ![]() Now take out some equity! Just kidding. ![]() |
Response to Shrike47 (Original post)
Name removed Message auto-removed
Response to Name removed (Reply #50)
Tue Apr 30, 2013, 12:37 PM
Jazzgirl (3,744 posts)
59. Maybe you forgot the sarcasm smilie??!!??
n/t
|
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 11:27 AM
gopiscrap (23,319 posts)
51. CONGRATS!!!
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 11:38 AM
JDPriestly (57,936 posts)
53. Congratulations.
I read the other day here on DU about a couple earning $90,000 per year paying off debts of $50,000. Unless that was for a house, education or medical bills, I wonder who in the world ever loaned $50,000 to a couple earning only $90,000.
It takes a lot of work and discipline to pay off your house, but it is really, really important. Now all that is left is upkeep, taxes and property insurance. You are set. Good luck. Enjoy the rest of your life. Your post made me wonder whether anyone has done a study on who is the most in debt, Republicans or Democrats. The outcome might be surprising. After the 2008 crash, I was amazed to learn that people I thought were poor did just fine. Some I had believed were better off were really in trouble. They had apparently been living on credit. It's quite strange. |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 11:51 AM
Historic NY (37,053 posts)
55. Feels good doesn't it!!
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 12:01 PM
CrispyQ (34,968 posts)
57. Congrats! It's a great feeling!
![]() ![]() ![]() |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 12:10 PM
Bay Boy (1,689 posts)
58. May I suggest that you...
...keep paying your mortgage? What I mean is pay that same amount into savings account of yours and use it for the property taxes, retirement and some splurging.
|
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 01:02 PM
ellisonz (27,460 posts)
60. Big Congrats!
![]() |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 01:04 PM
Phentex (16,275 posts)
61. Congratulations!
![]() |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 01:33 PM
Myrina (12,296 posts)
62. CONGRATS!!!!
What a huge accomplishment!!
![]() ![]() I only have 24 years left on mine. Sigh. |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 01:41 PM
onestepforward (3,691 posts)
63. Congratulations!
![]() ![]() |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 02:00 PM
Shankapotomus (4,840 posts)
64. Congrats
Owning ones own house. What a concept.
Something that should strike us all as a sign something's not right with society when most people don't own their homes outright without a 30 year payment plan. Thousands of years of providing land and shelter for ourselves without so much as needing an "Ok" from anyone and, suddenly, it now just happens to require 30 years of servitude to shelter yourself. Yea, we're not being sold a load of goods. |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 02:01 PM
Arugula Latte (50,566 posts)
65. Envious!
Congrats!
![]() We still have 20 to go ... *sigh* At least we've re-financed to get a good sub-4 percent loan. |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 02:04 PM
War Horse (931 posts)
66. Congrats
Guessing the feeling is 'whew'
![]() |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 02:07 PM
nessa (317 posts)
67. I'm jealous. It's impossible where I live. Property taxes are more than half our monthly payment.
We will never be able to live without a monthly payment, unless we sell and move away.
|
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 02:35 PM
Hekate (86,346 posts)
72. Congratulations! It is a great feeling, isn't it?
We paid ahead for years and managed to save a bundle on the interest, but it was hard work. My husband was determined to cut our 30 year mortgage down to 15, and we managed to do it in 18. It is such a great feeling being out from under the bank.
![]() |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 02:52 PM
Prophet 451 (9,796 posts)
74. Congrats, dude
Break out the champagne.
|
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 03:21 PM
ErikJ (6,335 posts)
75. Its the state's house if you dont pay your Prop. Tax
Which was very common in the Great Depression. Millions lost their homes because they couldnt pay their prop tax as prop tax was about the only way states used for revenue back then.
|
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 03:22 PM
Baitball Blogger (46,122 posts)
76. Congratulations!
We would be close to owning it but we had to refinance to pay for college educations.
I learned the value of staying put, however. We were able to refinance at a time when everybody else was under water. |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 03:28 PM
Paper Roses (7,423 posts)
77. What an exciting day.May I give you some advice?
Several years ago, we paid off our mortgage. Had a great-out-to-dinner celebration. It had been 30 years of monthly payments.
Sometimes things go wrong. We had very little extra funds when the cellar flooded, ruining the furnace, a tree fell on the roof, and several other money costing things went wrong. Smart as we thought we were, we took out a reverse mortgage to cover the costs of a roof, furnace and other things. Worst mistake we ever made. Enjoy your new freedom but if anything happens and you need money for a fix-it. Get a home equity loan. Please do not take out a reverse mortgage. You may not be of an eligible age but please listen. This was the stupidest thing we ever did. I know your good feeling. Enjoy the freedom. |
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 03:32 PM
Danmel (4,776 posts)
78. mazel tov
We are almost there.
|
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 04:10 PM
Bertha Venation (21,484 posts)
79. CONGRATULATIONS!!
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 04:23 PM
AnneD (15,774 posts)
80. Totally awesome.......
A debt free life style is a beautiful thing.
|
Response to Shrike47 (Original post)
Tue Apr 30, 2013, 04:59 PM
Walk away (9,494 posts)
81. Damn! I just paid off my 2nd! Good for you!
![]() |
Response to Shrike47 (Original post)
Sun Sep 29, 2013, 12:45 AM
gopiscrap (23,319 posts)