Last Mortgage Payment!!

[bobs66440]

I just wired the last payment!!   

It's been a LONG time but it's finally paid off!!

Now...what parts do I need??? 

[BananaDan]

Parts?  I think it's time to add a car to your stable!   

[Silver R/T]

lucky you

[Big Sugar]

WoW I'm definatly envious Bob, I've still got a couple of few years left on mine.
Time to rework that suspension and go full hotchkis. Or maybe a big stereo so you can relive your youth !

Congrats Bob
Take the wife out for a nice DATE.
That'll be a good start.


Ron

[twodko]

That is huge Bro! Congratulations. These days this is especially wonderful news, you deserve it. Now about adding to your car stable.........we'll want pictures ya know.

[471_Magnum]

I hate you.

[greenpigs]

I got 25 years too go

Congrats on that, shelter is priority #1 IMO.

[chargermike]

congrats. thats really cool

[Hissing Cobra]

Congrats!  I'm working hard to do this same thing and I have 7.5 years left. I'll be 50 by then and hopefully I'll be able to squirrel the following 20 years worth of money into my retirement, in addition to what I'm putting into my 401K at this very moment. I'd better live long enough to see this happen!

[NHCharger]

Sweeet. It's a great feeling to own your house free and clear, except for the property tax payments. I've been mortgage free for ten years now. It's a great excuse to own multiple Mopars

[mikesbbody]

You Lucky Son of a..... Gun! 

[bobs66440]

Thanks guys, I thought the day would never come. Of course I'm old now and I hope I live long enough to enjoy it!  

Time to rework that suspension and go full hotchkis.

You know Ron, that would be a great idea...except if I made it handle good with those flat-top slippery buckets, I wouldn't be able to stay in the seat!  

[PocketThunder]

Sweeet. It's a great feeling to own your house free and clear, except for the property tax payments. I've been mortgage free for ten years now. It's a great excuse to own multiple Mopars

My friend in college said that once his parents paid off thier house the current monthly tax bill is now more than the original mortage was!   Holy Crap...

Got 27 more years to go myself. 

[Big Sugar]

Thanks guys, I thought the day would never come. Of course I'm old now and I hope I live long enough to enjoy it!  

Time to rework that suspension and go full hotchkis.

You know Ron, that would be a great idea...except if I made it handle good with those flat-top slippery buckets, I wouldn't be able to stay in the seat!  

Seat Belts Bob, Put your money into Seat belts Bob.        LOL...


Carlisle ?

Cookies?

Maple ?


Ron

[oldgold69]

welcome to the club   you sleep alot better with more money in your pocket

[bull]

Congrats!

We have something like 20 years left on our loan but we have the paperwork filled out to drop it to a 15-year for something like $82/month more. What kind of pisses me off though is that the people in danger of losing their homes are able to refinance and get ARMs that start at 2% and top out at 4% while I'll be sitting at 4.75% for the next 15 years. Why don't they reward the people who keep steady jobs and pay their mortgage on time every time? Obviously these banks can afford to loan people money at 3-4% interest so why not reward the loyal customers with the same deal they give those in default?

[mikesbbody]

Bull, I don't know the exact details but I saw on maybe 60 minutes? about People (Rich People) who bought Homes (Million $ plus homes) and since they had gone down in value so much they were defaulting payments (not paying yet the Bank allowed them to stay) not quite sure how that works?

[bull]

Bull, I don't know the exact details but I saw on maybe 60 minutes? about People (Rich People) who bought Homes (Million $ plus homes) and since they had gone down in value so much they were defaulting payments (not paying yet the Bank allowed them to stay) not quite sure how that works?

Yea, it's the same type of thinking that bailed out all these deadwood corporations with money we don't have. Reward the poor choices and gluttony with low interest refinancing. I honestly believe that if the market had decided who was going to live or die financially that we would be better off in the long run.

[bobs66440]

Congrats!

We have something like 20 years left on our loan but we have the paperwork filled out to drop it to a 15-year for something like $82/month more.

Thanks! That's what we did. When we built the house our rate was something like 9.375%. After a few years the rates went down and we decided to refinance. We refinanced at 6.625%, changed to bi-weekly payments instead of monthly, added $50/4 weeks to the payment and it cut 15 years off the mortgage! With closing costs around $2000.00! Going to bi-weekly payments alone knocked 8 years off! Amazing!

[bobs66440]

Thanks guys, I thought the day would never come. Of course I'm old now and I hope I live long enough to enjoy it!  

Time to rework that suspension and go full hotchkis.

You know Ron, that would be a great idea...except if I made it handle good with those flat-top slippery buckets, I wouldn't be able to stay in the seat!  

Seat Belts Bob, Put your money into Seat belts Bob.        LOL...


Carlisle ?

Cookies?

Maple ?


Ron

Or duct tape 

Can't wait for those cookies!

[RallyeMike]

Man, that's got to feel good. Congrats. Did you actually ride it all they way to the last payment or jump on it and knock it out when the balance was getting low?

[bobs66440]

Man, that's got to feel good. Congrats. Did you actually ride it all they way to the last payment or jump on it and knock it out when the balance was getting low?

We just let it ride to the last payment...the interest is minimal as it gets lower so we didn't sweat it much. I may now use the cash to knock down those car payments though...

[hemi68charger]

That's awesome !!!!!   

[ITSA426]

There's a lot to be said for debt free living!

[RECHRGD]

I've been debt free for several years now and there's (almost) no better feeling.  Now I've got to figure out how not to pay taxes like General Electric...

[ITSA426]

You can avoid a lot of taxes by giving away as much as you can to legitimate charity.

On another point, I just read that most of the $1,000,000 and up homes sold in this area were bought with cash at closing.

[moparstuart]

I kept my first house we bought , as rental property after we moved to a bigger house.  I only have two more payments and its payed off  .  My primary residents is on a 15 year note that will be done in 7 years . So by the time i'm 50 both will be paid off free and clean . Thats a big part of my retirement plan . 

[chargerboy69]

Great.    That is a huge achievement.

I am hoping to have our house paid off by the end of the year. That is as long as the economy does not totally fall flat.

[John_Kunkel]

I know the feeling, I wrote "that check" in September of '87.

[mikesbbody]

I don't even look at my Mortgage statements too depressing  but a big    to all who have paid there's off!

[69_500]

I kept my first house we bought , as rental property after we moved to a bigger house.  I only have two more payments and its payed off  .  My primary residents is on a 15 year note that will be done in 7 years . So by the time i'm 50 both will be paid off free and clean . Thats a big part of my retirement plan . 

Stuart that sounds just about like us only we have more time on both payments. Still owe for 6 years on the first house which we are renting out currently, and then we have 15 years on the one we just bought. Which will put us in the same boat of having them paid off before 50.

[BrianShaughnessy]

Congrats!

   I got another year or so of payments left.    Frankly I'm not exactly sure... I try not to look.    I know my mortgage interest isn't jack to write off anymore.... but of course the property taxes have gone up in the meantime to make up for it.

[Charger_Fan]

Man, I would sure love to have mine paid off today. I've got 12 years to go on mine, if I stay here. I'm tempted to sell this place when & if the market ever comes back, then buy a smaller place with the cash from this one, ending up with no mortgage. We'll see.

Congrats on paying off yours!

[Tilar]

Congradulations. That's a good feeling!

My grandmother passed away December of 09 and I just bought her house in FEbruary. I just made my first payment March 28th. I took out a 20 year note but I put a big chunk of money down on it and should be able to pay it off in 10 years or less.    I'd rather make payments on two homes than one car payment.