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Mon Apr 29, 2013, 05:04 PM

So this morning we paid off our mortgage. We own the house.

I never really thought we'd get there.

83 replies, 8593 views

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Reply So this morning we paid off our mortgage. We own the house. (Original 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

1. congrats! did it around 13 yrs ago.

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Response to spanone (Reply #1)

Mon Apr 29, 2013, 05:06 PM

2. Same here

Does feel nice - don't it.

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Response to dipsydoodle (Reply #2)

Mon Apr 29, 2013, 06:41 PM

31. sure does, until that property tax bill comes around...

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Response to spanone (Reply #31)

Mon Apr 29, 2013, 06:59 PM

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.

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Response to spanone (Reply #31)

Tue Apr 30, 2013, 02:09 PM

68. but wasn't that property tax bill coming around when the mortgage was due anyway?

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Response to pepperbear (Reply #68)

Tue Apr 30, 2013, 02:14 PM

70. It probably just went to the mortgage company

Which rolled it into the monthly payments.

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Response to pepperbear (Reply #68)

Tue Apr 30, 2013, 02:29 PM

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.


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Response to pepperbear (Reply #68)

Tue Apr 30, 2013, 05:21 PM

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.

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:08 PM

3. Congrats

Nice feeling

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:09 PM

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.

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Response to The Velveteen Ocelot (Reply #4)

Tue Apr 30, 2013, 12:00 PM

56. Your house sounds like my house!

"...small and old and dumpy, but at least it's mine."



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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:11 PM

5. It's a damn good feeling, isn't it?

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:14 PM

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?

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Response to HereSince1628 (Reply #6)

Mon Apr 29, 2013, 05:18 PM

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!

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Response to Shrike47 (Reply #7)

Mon Apr 29, 2013, 05:57 PM

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...

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Response to AtheistCrusader (Reply #21)

Tue Apr 30, 2013, 11:41 AM

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.

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Response to Shrike47 (Reply #7)

Mon Apr 29, 2013, 06:00 PM

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...

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Response to Shrike47 (Reply #7)

Tue Apr 30, 2013, 02:37 PM

73. God, I hate those things

I'm with you all the way. No, no, and no.

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:21 PM

8. Congrats!!

Paid off ours a few years back, it's the greatest feeling in the world!!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:30 PM

9. congratulations.

enjoy!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:31 PM

10. How wonderful!

Congratulations!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:31 PM

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.

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:32 PM

12. Congratulations!

I bet you feel like you hit the lottery!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:36 PM

13. What a rare achievement these days

Congrats Hope I can say the same one day!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:40 PM

14. We did that a couple of years ago.

Congratulations!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:45 PM

15. House

Congratulations.

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:47 PM

16. Congrats!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:51 PM

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.

for you!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:52 PM

18. What an incredibly happy day.

The load off your shoulders is phenomenal. I'm so happy with you!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:54 PM

19. Well done!

Wishing you many happy years in your home.

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:55 PM

20. congrats !!!

best wishes to you !!!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 05:59 PM

22. Expect Bank of America

to foreclose on you any day now.

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Response to SwankyXomb (Reply #22)

Tue Apr 30, 2013, 02:10 PM

69. haha, just what I was thinking

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:05 PM

24. o/` [victory fanfare!] o/` (nt)

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:09 PM

25. That was the day we went out for a steak dinner

Congrats.

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:10 PM

26. Congrats!

and keep all your paperwork!!!!!!!!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:11 PM

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

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:21 PM

28. Congratulations!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:25 PM

29. congratulations!

It's a great feeling and welcome relief. We paid ours off in 2008. Just in the nick. of. time.
Congrats again!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:34 PM

30. very happy for you!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:42 PM

32. Awesome!

Congratulations, that is great!

I'll get there one day...

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:46 PM

33. Happy Dance!!!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:56 PM

34. congrats ! expect to do that this year ...

30 year mortgage ... did it in 20 ... one extra payment per year ...

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Response to littlewolf (Reply #34)

Mon Apr 29, 2013, 07:32 PM

45. Same way we did it. nt

 

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:56 PM

35. Congratulations! Right behind you.

Debt = slavery. I don't like debt.

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:57 PM

36. must be nice... congrats!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 06:59 PM

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!



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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 07:03 PM

39. That's great!

In August we'll have 7 years to go. It seems like forever, but better than 20 or 30.

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 07:10 PM

40. Be sure to record

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 07:12 PM

41. Time to paint the front door red!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 07:14 PM

42. That must be an amazing feeling.

Congrats!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 07:21 PM

43. Thanks, everybody.

It's been a long haul but we did pre-pay when we could and that sure helped.

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 07:29 PM

44. Congrats. My wife and I just sent the payment off last week to do the same.

 

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 07:33 PM

46. Fantastic!!!

Well done!

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 07:34 PM

47. Congrats. I'm soooooo jealous.

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 07:43 PM

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.

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Response to Shrike47 (Original post)

Mon Apr 29, 2013, 07:44 PM

49. congrats!!



Now take out some equity!


Just kidding.

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Response to Shrike47 (Original post)


Response to Name removed (Reply #50)

Tue Apr 30, 2013, 12:37 PM

59. Maybe you forgot the sarcasm smilie??!!??

n/t

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 11:27 AM

51. CONGRATS!!!

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 11:30 AM

52. Well done!

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 11:38 AM

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.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 11:51 AM

55. Feels good doesn't it!!

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 12:01 PM

57. Congrats! It's a great feeling!



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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 12:10 PM

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.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 01:02 PM

60. Big Congrats!

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 01:04 PM

61. Congratulations!

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 01:33 PM

62. CONGRATS!!!!

What a huge accomplishment!!

I only have 24 years left on mine. Sigh.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 01:41 PM

63. Congratulations!

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 02:00 PM

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.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 02:01 PM

65. Envious!

Congrats!

We still have 20 to go ... *sigh* At least we've re-financed to get a good sub-4 percent loan.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 02:04 PM

66. Congrats

Guessing the feeling is 'whew'

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 02:07 PM

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.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 02:35 PM

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.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 02:52 PM

74. Congrats, dude

Break out the champagne.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 03:21 PM

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.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 03:22 PM

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.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 03:28 PM

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.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 03:32 PM

78. mazel tov

We are almost there.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 04:10 PM

79. CONGRATULATIONS!!

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 04:23 PM

80. Totally awesome.......

A debt free life style is a beautiful thing.

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Response to Shrike47 (Original post)

Tue Apr 30, 2013, 04:59 PM

81. Damn! I just paid off my 2nd! Good for you!

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Response to Shrike47 (Original post)

Sun Sep 29, 2013, 12:45 AM

83. congrats!!!

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