Paid Off the Mortgage Today!!

[Turk]

Got tired of the HUGE payment, Wife was super stressed about it being so high, so I said ENOUGH!!

Did a "big amount" Wire Transfer today and it's done.

Talk about de-stressed & feeling free......

WOO-HOO!!!

 

[Quattro Pete]

Sounds good.

We made a significant one-time principal-only payment on ours earlier this year, but still more to go.

 

[SLCraig]

Amazing. Was just thinking about that today.
I only have 24 more years on mine

When it gets down to the point I can pay it off with one huge lump sum payment, I will, for sure.

Debt sucks, the only one I am OK with is a mortgage payment.

 

[Turk]

To give you a hint -- Payoff was closer to 6 figures than not...

 

[simple_gifts]

Just discussing this with my friend Terry about an hour ago. Got about 24 months to go...

Congrats.

 

[JTK]

Good for you Turk!

28yrs left on mine, I'm 42, 4 kids, 11,9,7,2. YAY!!

 

[1999nick]

When I get my mortgage paid off, I will still have to set aside about $600 per month for taxes and insurance.

 

[OVERKILL]

Congratulations bud!!

 

[Oldmoparguy1]

Way to go! Feels good, doesn't it?

Married 46 years this June, owned 3 homes, paid each off early. Paid off the Current house in 2003...

Wayne

 

[John_K]

I did that 7 years ago, WOW what a feeling! Congrats.

John

 

[fdcg27]

We were able to do this way back in 1996.
It's like gaining a substantial raise, or even a second income.
Good for you!

 

[eljefino]

Well done.

My net worth is about zero, ie if I cashed in my 401k and savings I'd have the house nut taken care of. So not yet.

 

[Turk]

Originally Posted By: Oldmoparguy1
Way to go! Feels good, doesn't it?

Married 46 years this June, owned 3 homes, paid each off early. Paid off the Current house in 2003...

Wayne


Nice...

Sure was a lot of money as I mentioned earlier, but it was just sitting there making nothing...

YES - what a feeling!! Tops it off is a VERY happy wife...

 

[oldhp]

CONGRATS!!!!!!!!!!!! I framed my last payoff check!!!
Feels like a ton off my back!!!

 

[Pop_Rivit]

Congratulations. It's a fantastic feeling to be out from under the thumb of the payment grind-a feeling far too many folks will never know.

 

[OtisBlkR1]

Awesome ! i have 13 years and change left on that 15 year re-fi i did. I couldnt cash in my 401 K and pay off my house, atleast not yet.. If i just make the monthly payment my house will be paid off 7 years before my mandatory (forced) retiremnet. still, 7 years before you retire your house is Done ! I like teh sound of that.

 

[CarbonSteel]

Originally Posted By: OtisBlkR1
Awesome ! i have 13 years and change left on that 15 year re-fi i did. I couldnt cash in my 401 K and pay off my house, atleast not yet.. If i just make the monthly payment my house will be paid off 7 years before my mandatory (forced) retiremnet. still, 7 years before you retire your house is Done ! I like teh sound of that.

I read somewhere that you can make the total of 13 payments per year even if done in 12 payments (13 "regular" payments /12 = new monthly payment) you can pay a 30 year mortgage off in 22 years. I would assume (if true and to a lesser degree) that you could do the same with a 15 and pay it off about 4 years early.

Anyone know if this is actually true?

PS - Congratulations Turk; we have about 12 to go on ours

 

[Billy_D]

Congratulations!!

 

[morris]

GREAT FOR YOU. i paid off a house once. its a great feeling. take some of the money you would have paid to house payments. and save for the next house. or go out and buy a new mustang. LOL LOL

 

[JHZR2]

My goal is mortgage free by 35 so we can buy a house at the beach. We will see - a little one means my inner responsibility says to fully fund college for all kids first.

Congrats!! I hope to follow in your footsteps.