Just wrote a $29k check

[Hardly Satisfied]

That’s so awesome, Congratulations

 

[havasujeeper]

I have 4 months left on my 3% loan. I'm dreading it since she now wants to get another house.

 

[rrrr]

I have 4 months left on my 3% loan. I'm dreading it since she now wants to get another house.

Just do some calculations on what the payment will be for a 7% loan on the new house every month, and share it with your wife. Then ask her what she's willing to do without.

It might dampen her desires a bit.

 

[angiebaby]

Look…nobody ever said I was smart with my money

Apparently you are if you have your home paid off at 51

 

[Mini Kat]

Sad part this will keep coming

I feel you kid taxes arent fun afv taxdaymp4

I feel you kid taxes arent fun afv taxdaymp4

scoopzapp.com

 

[monkeyswrench]

The past few years I've come to realize I have made two good decisions in my life. (Helps make up for a few of the others maybe?) One was the girl I married, the other was paying off our home. At the time, both were big decisions. Sometimes the full effects of actions aren't noticed for some time. Closing the door on this chapter may open other doors immediately, and also down the road.

 

[lavey jr]

That’s the least they can do? I wonder how many scams are going on there?

Wasn’t a debate weather the government does enough for veterans. Just stating it is possible to have a house and legally not pay property taxes for some people.

 

[Your ad here]

Just do some calculations on what the payment will be for a 7% loan on the new house every month, and share it with your wife. Then ask her what she's willing to do without.

It might dampen her desires a bit.

You a funny guy.

 

[CarolynandBob]

When we retired in 2016 and sold our house in Ca in 2019 that was the end of mortgages for us.

One of the smartest things we did is set up our new house to rent to snow birds. Now they pay for our property tax and insurance on that house but also our expenses at out winter place.

 

[wash11]

Such an awesome post. This has been our goal for years- we're down to just 4 years now. Does it make the most financial sense? Don't care. The amount of money we all spend on the regular to feel good (vacations, new vehicles with warranties, Coors Light etc.) won't compare to the daily feeling of owning all my shit outright.

 

[Waterjunky]

I'm very mixed on the strategies being talked about here. I want my primary home paid off. There is a huge chunk of stability in that. I have had too many friends lives "change" and end up in a real jam. in some cases losing houses others just very, very tough times. No mortgage goes a long ways to prevent this. On the other hand, I will probably constantly leverage my duplex and its value. Yes my rates are very reasonable on both. The Duplex will probably get leveraged to buy another unit or two. It will probably provide some or all of the down payment for the next one. It will also help cover the nut to start on the next one. This means I have to pull nothing out of my pocket directly. Rinse and repeat.

Best of both worlds?

 

[Ladsm]

Such an awesome post. This has been our goal for years- we're down to just 4 years now. Does it make the most financial sense? Don't care. The amount of money we all spend on the regular to feel good (vacations, new vehicles with warranties, Coors Light etc.) won't compare to the daily feeling of owning all my shit outright.

I remember when you came rolling into Glamis with the new Red lifted super duty, apartment size toyhauler and a motorcycle dealership of rides inside. Your story of starting over got me on my current path to run my cars till they cant roll any longer, buy good used and live cheap. You dropped off a Weekend Warrior chair at my house in Ontario on horse property, pool guest house out back and a monster mortgage to match. My current little house on a small lot with a pool and a launch ramp to the river at the end of my street and a car payment size mortgage is a way better lifestyle.

 

[Eliminator21vdrive]

Congratulations!!

I did mine four months ago (almost same check) best feeling in the world!

Odd that the title is a unremarkable document lol.

I would have thought it would have some frills.

 

[wash11]

I remember when you came rolling into Glamis with the new Red lifted super duty, apartment size toyhauler and a motorcycle dealership of rides inside. Your story of starting over got me on my current path to run my cars till they cant roll any longer, buy good used and live cheap. You dropped off a Weekend Warrior chair at my house in Ontario on horse property, pool guest house out back and a monster mortgage to match. My current little house on a small lot with a pool and a launch ramp to the river at the end of my street and a car payment size mortgage is a way better lifestyle.

It’s been quite a ride for both of us old friend!

 

[McKay]

We paid off our home in 09 or 10'. best thing ever. We had a rate at about 2.6% if I remember correctly. Yes the math does not make sense to do it but there is somehting about being debt free. It changed our whole mind set on spending. How fast you can generate wealth is nuts once you get that behind you.

 

[bonesfab]

Is this true? I’m assuming you pay it to the principle?

I don't think it shaves that much time off but it does help. And yes to principle. The quicker you pay the principle down the less interest you will pay.

 

[c_land]

We paid off our home in 09 or 10'. best thing ever. We had a rate at about 2.6% if I remember correctly. Yes the math does not make sense to do it but there is somehting about being debt free. It changed our whole mind set on spending. How fast you can generate wealth is nuts once you get that behind you.

I have the same thoughts. We bought our house cash end of last year.

You can stack some serious $ when your housing expense is limited to utilities, taxes, and insurance. Not to mention the negotiating power that you have when you can just drop off a cashiers check at the escrow office. I think we ended up close to $100,000 under asking.

 

[bonesfab]

I have about three years left on my now rental. The one I am living in will be either reifed or sell some shit and pay it off around the same time.

 

[wzuber]

Some states freeze property tax when you turn 65. Atleast it’s something

Tennessee does this if you REQUEST IT, otherwise they just let it roll. Solid program over there.

 

[wzuber]

Just a reminder to folks still in the first half of their mortgage. . . . Add 10-15% to your payment every single month, or make one extra payment a year. You can pay off a 30 year note in 18. Now that's a good feeling.

So long as that extra %, payment etc. is sent with the explicit instructions to apply that payment directly to and only to the mortgage principle.

 

[CLdrinker]

Tennessee does this if you REQUEST IT, otherwise they just let it roll. Solid program over there.

So does AL

 

[rrrr]

You a funny guy.

Whaddya mean funny? Funny how?

 

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Whaddya mean funny? Funny how?

Trying to explain finances to a woman. When you do find one that understands finances she gonna have a pee pee.