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Paid my house off today

Discussion in 'Off Topic Threads' started by smsnyder, Mar 10, 2011.

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  1. smsnyder

    smsnyder Well-Known Member

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    15 years ahead of time. Can i walk away from the mortgage now? Now what? LOL
     
  2. smsnyder

    smsnyder Well-Known Member

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    Just joking about this house. I wish
     
  3. smsnyder

    smsnyder Well-Known Member

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    Made double and triple payments on principal. Now i can do some real trapshooting. LOL
     
  4. dmarbell

    dmarbell Active Member

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    Not sure what your age is. The only way to make this economically beneficial now is to invest what you would have paid on your mortgage. If you waste if on trap guns, it will not have been worth it!

    Congratulations on a fine financial accomplishment.

    Danny
     
  5. smsnyder

    smsnyder Well-Known Member

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    Good advice dmarbell. Old fart age 60
     
  6. oletymer

    oletymer Member

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    That is exactly how to do it. My wife and I took out a 15 year mortgage and paid it off in 8 years. We have since paid cash for the last two homes. All the interest most people pay now goes into living the good life.
     
  7. smsnyder

    smsnyder Well-Known Member

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    Interest sucks on a home mortage. They rip your eyes out. You end up paying double or triple for the house if you go the full note route.
     
  8. capvan

    capvan Active Member

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    I'm 64, married and no debt. House, cars, all paid for. Absolutely NO credit card debt. Retired, wife still works so I can shoot. Ok, she shoots as well.

    Don't need a lot coming in if you don't have a lot going out.

    cap
     
  9. powderburn

    powderburn Member

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    Anderson, IN
    Way to Go!
    I, and Dave Ramsey are proud of you! Cash is king. We are about to double our payments now too. All othe debts are gone. Then its bo=uilding wealth time! -powderburn
     
  10. BrowningPotato

    BrowningPotato TS Member

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    Unfortunately, no one ever OWNS their property outright. Miss a couple property tax payments and guess what, they take it. Does that sound like ownership? Our forefathers would be disgusted.
     
  11. smsnyder

    smsnyder Well-Known Member

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    It still cost me $350 a month to live in house that is paid off..School and property taxes suck.
     
  12. timberfaller

    timberfaller Well-Known Member

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    What happens if you can't make your tax payment?

    Congrats on your accomplishment! Really!

    I talked with some time back, Why didn't he just buy a place instead of renting?

    His reply was, "Why buy something you will never own" You can pay off a house deed, but if you fail on paying property taxes, the government will come and take it!

    We shouldn't be paying taxes on what we are suppose to own anyway in my way of thinking! Its call Free American

    Less taxes = smaller government!
     
  13. smsnyder

    smsnyder Well-Known Member

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    Some states have no property taxes. Im not sure about school taxes.
     
  14. BrowningPotato

    BrowningPotato TS Member

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    And how is it legal to tax the same entity, property, year after year? Let me pay one flat tax and be done with it!

    If you wanted to quit work and simply grow your own food and provide for your family by yourself, you could not do it these day without an income to pay the government. How free are we really?
     
  15. grntitan

    grntitan Well-Known Member

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    Have 6 years left myself. Took out 30 year note in 1999 and then refinanced when rates were great. If it goes as planned will be paid in full in 4. It has been hard but i long for the day i can say its all mine. Then we'll move and start over. LOL
     
  16. trapshooterjoe7

    trapshooterjoe7 Member

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    Earl, thats a good feeling to be debt free!!!!
     
  17. otnot

    otnot Active Member

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    Read the chain of title very carefully. A friend of mine just paid his house off and did not receive a clear title just the promissory note.
     
  18. g7777777

    g7777777 TS Supporters TS Supporters

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    congratulations

    A clear title is a title determination usually and does not come with paying off your mortgage-

    Regards from Iowa

    Gene
     
  19. smsnyder

    smsnyder Well-Known Member

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    What is a chain of title? Why would you get a promissary note when mortgage is paid off? Thanks
     
  20. JAE KX5

    JAE KX5 TS Member

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    Good for you. I paid mine off about eight years ago. My wife of 22 years left me in October and now I have to buy her half of the house. I did not want to go back in debt at 62 years old but it is what it is. Jeff
     
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