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Started By
Message
re: Paid off my house today.
Posted on 6/17/22 at 7:42 pm to EA6B
Posted on 6/17/22 at 7:42 pm to EA6B
quote:You’ll be surprised how cheap the market can be if 5% CDs come back.
Starting right now is when you should be buying, stocks are currently at bargain basement prices, load up with every spare dollar, then hopefully in Jan 2025 they will skyrocket in value.
0
Posted on 6/17/22 at 7:47 pm to BabyTac
Well now the gobment going to tax you for not having a payment
Posted on 6/17/22 at 7:52 pm to EA6B
I understand the simple concept of buy low. But yall are assuming it won't go lower with a dementia tard in charge backed up by a dumb whore and drunk Nancy who is going through the DT's every day
Posted on 6/17/22 at 7:54 pm to BabyTac
How much is your property tax? In case you think you “own” your home…….
Posted on 6/17/22 at 7:57 pm to BabyTac
Paid off mine last August. Haven't been able to save like I'd like to because I've been buying these sweet dips.
Posted on 6/17/22 at 7:57 pm to BabyTac
The simple truth is, it's like owning an old car, you really never finish paying for it. You just send smaller increments of pay to Lowes, Home Depot, etc.
Posted on 6/17/22 at 7:58 pm to BabyTac
Paid mine off 2 weeks ago. Going to either build a lake house or manufactured home in a couple of years and hopefully retire a couple of years after that.
Posted on 6/17/22 at 7:58 pm to Bestbank Tiger
I respectfully disagree. Now I wouldn’t be borrowing more now at these interest rates. However when interest rates were essentially non existent, you take a long term strategy to it. But the biggest asset is not being tapped for potential growth. I do respect and appreciate the flexibility outright ownership provides and I am not recommending doing a cash out for 85%. Lastly, given the few details provided none of us should draw a conclusion on best individual outcome.
Posted on 6/17/22 at 8:05 pm to Epic Cajun
Would be kinda tough in the last 6 months
Posted on 6/17/22 at 8:38 pm to BabyTac
The mortgage company will eventually send you the promissory note marked paid, and likely a letter indicating the debt is paid. Take that to the clerk of court and get your mortgage cancelled. Otherwise, you may lose the papers, or die, and it will be a hassle when you or heirs want to sell the property. Just knock it out.
Some note that their credit score went down when they paid off a mortgage. Reminds me of when my dad, not wealthy but thrifty, got in a squabble with some company and they said if he didn’t pay them it would hurt his credit score. He said, “Who gives a shite? I don’t need credit.”
Some note that their credit score went down when they paid off a mortgage. Reminds me of when my dad, not wealthy but thrifty, got in a squabble with some company and they said if he didn’t pay them it would hurt his credit score. He said, “Who gives a shite? I don’t need credit.”
Posted on 6/17/22 at 8:40 pm to GetCocky11
quote:
Just being free of debt is a wonderful thing in itself.
Posted on 6/17/22 at 8:42 pm to cubsfan5150
quote:
cubsfan5150
quote:you’re the hero the OT needs
Oddly a quick search through your post history
Posted on 6/17/22 at 8:46 pm to BabyTac
Bruh. Now is the time to remortgage the house and put down all the equity/capitol into either or Bitcoin.
Posted on 6/17/22 at 8:48 pm to Crow Pie
quote:If your close to retirement you aint looking 30 years down the road. Your looking at taking that monthly payment and going on vacation to that bucket list spot!!
Dollar would go a lot further in the market over a 30 year period.
Posted on 6/17/22 at 8:52 pm to BabyTac
Congrats. I bet it’s a good feeling, hope to join you in a couple years
Posted on 6/17/22 at 9:11 pm to BabyTac
This thread needs music. The sweet sounds of the saxophone on Baker Street sounds appropriate.
Baker Street
Baker Street
Posted on 6/17/22 at 9:14 pm to BabyTac
It was a great feeling until the combined ins./tax made it another monthly house note.
Posted on 6/17/22 at 9:17 pm to SuperSaint
Somebody has to call people out on their bullshite SS... BTW, how's that $850 a sq ft house treating you?
Posted on 6/17/22 at 9:22 pm to BabyTac
quote:
Pretty bad arse feeling. Zero debt. Sorry for the brag, but on cloud 9.
Some say it’s not the most financially savvy thing considering my interest rate was 3.5%, but what would I have invested that money in during these times?
Pretty big feeling of comfort and security for my family if anything happened to me.
You can't compare mortgage rates to potential rates of return investing. Not directly. Paying down that 3.5% is a GUARANTEED return. And what price do you put on peace of mind?
I paid mine off in 2007 at about age 35. I'll never forget the day. I've had a car loan or two since but tend to pay those off early too. At the moment we are completely debt free and it feels great.
It's not as life changing as you might think. You go on to worry about other financial things--kids college, weddings, retirement, etc etc etc.
This post was edited on 6/18/22 at 10:48 am
Posted on 6/17/22 at 9:24 pm to MizunoDude
quote:
How much is your property tax? In case you think you “own” your home…….
You pay that whether you have a mortgage or not. I don't see your point.
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