# General Discussion

Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums# So this morning we paid off our mortgage. We own the house.

I never really thought we'd get there.

**83 replies**= new reply since forum marked as read

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#### spanone

(136,229 posts)#### dipsydoodle

(42,239 posts)Does feel nice - don't it.

#### spanone

(136,229 posts)#### dipsydoodle

(42,239 posts)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.

#### pepperbear

(5,648 posts)#### Animal Chin

(175 posts)Which rolled it into the monthly payments.

#### ieoeja

(9,748 posts)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.

#### spanone

(136,229 posts)once i paid off my house, i get a yearly bill from the city...one lump sum.

#### malaise

(270,695 posts)Nice feeling

#### The Velveteen Ocelot

(116,598 posts)It's a huge relief. My house is small and old and dumpy, but at least it's mine.

#### CrispyQ

(36,792 posts)"...small and old and dumpy, but at least it's mine."

#### ret5hd

(20,712 posts)#### HereSince1628

(36,063 posts)some money for that vacation that you never had because of all those house payments?

#### Shrike47

(6,913 posts)And please stop sending me those blank checks in the mail that I can fill out in a flash and borrow $5,000!

#### AtheistCrusader

(33,982 posts)I can just see some jerk stealing them out of my mailbox...

#### Yavin4

(35,524 posts)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.

#### zeemike

(18,998 posts)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...

#### Hekate

(91,659 posts)I'm with you all the way. No, no, and no.

#### PD Turk

(1,289 posts)Paid off ours a few years back, it's the greatest feeling in the world!!

#### barbtries

(28,873 posts)enjoy!

#### LiberalEsto

(22,845 posts)Congratulations!

#### Le Taz Hot

(22,271 posts)Congratulations! I'm not sure if I'll live long enough to see mine paid off but we just keep chugging along at it.

#### femmocrat

(28,394 posts)I bet you feel like you hit the lottery!

#### eissa

(4,238 posts)Congrats Hope I can say the same one day!

#### GoneOffShore

(17,356 posts)Congratulations!

#### SamKnause

(13,194 posts)Congratulations.

#### City Lights

(25,171 posts)#### mnhtnbb

(31,512 posts)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!

#### Mira

(22,384 posts)The load off your shoulders is phenomenal. I'm so happy with you!

#### Granny M

(1,395 posts)Wishing you many happy years in your home.

#### unionthug777

(740 posts)best wishes to you !!!

#### SwankyXomb

(2,030 posts)to foreclose on you any day now.

#### nilram

(2,899 posts)#### Posteritatis

(18,807 posts)#### skydive forever

(449 posts)Congrats.

#### Marrah_G

(28,581 posts)and keep all your paperwork!!!!!!!!

#### coljam

(188 posts)Congrats......

In my neck of the woods we pay 10,000 in real estate taxes sorry you just cant win

#### RKP5637

(67,112 posts)#### yonder

(9,719 posts)It's a great feeling and welcome relief. We paid ours off in 2008. Just in the nick. of. time.

Congrats again!

#### secondwind

(16,903 posts)#### mahina

(17,932 posts)Congratulations, that is great!

I'll get there one day...

#### BumRushDaShow

(131,787 posts)#### littlewolf

(3,813 posts)30 year mortgage ... did it in 20 ... one extra payment per year ...

#### Stretch714

(90 posts)#### reflection

(6,286 posts)Debt = slavery. I don't like debt.

#### DCBob

(24,689 posts)#### CountAllVotes

(20,897 posts)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!

#### RiffRandell

(5,909 posts)In August we'll have 7 years to go. It seems like forever, but better than 20 or 30.

#### ArcticFox

(1,249 posts)#### Spitfire of ATJ

(32,723 posts)#### Ruby the Liberal

(26,220 posts)Congrats!

#### Shrike47

(6,913 posts)It's been a long haul but we did pre-pay when we could and that sure helped.

#### Stretch714

(90 posts)#### greytdemocrat

(3,299 posts)Well done!

#### Auggie

(31,335 posts)#### Auntie Bush

(17,528 posts)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.

#### Liberal_in_LA

(44,397 posts)Now take out some equity!

Just kidding.

Response to Shrike47 (Original post)

Name removed Message auto-removed

#### Jazzgirl

(3,744 posts)n/t

#### gopiscrap

(23,821 posts)#### DocMac

(1,628 posts)#### JDPriestly

(57,936 posts)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.

#### Historic NY

(37,497 posts)#### CrispyQ

(36,792 posts)#### Bay Boy

(1,689 posts)...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.

#### ellisonz

(27,711 posts)#### Phentex

(16,338 posts)#### Myrina

(12,296 posts)What a huge accomplishment!!

I only have 24 years left on mine. Sigh.

#### onestepforward

(3,691 posts)#### Shankapotomus

(4,840 posts)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.

#### Arugula Latte

(50,566 posts)Congrats!

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

#### War Horse

(931 posts)Guessing the feeling is 'whew'

#### nessa

(317 posts)We will never be able to live without a monthly payment, unless we sell and move away.

#### Hekate

(91,659 posts)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.

#### Prophet 451

(9,796 posts)Break out the champagne.

#### ErikJ

(6,335 posts)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.

#### Baitball Blogger

(46,953 posts)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.

#### Paper Roses

(7,485 posts)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.

#### Danmel

(4,974 posts)We are almost there.

#### Bertha Venation

(21,484 posts)#### AnneD

(15,774 posts)A debt free life style is a beautiful thing.