Has anyone paid off their mortgage?

BWHAHAHAHAHAHAHAHAHAHAHA

no

You own nothing, look at your deed, you are a lesee tenant.

Good luck refinancing without a job.

i got my mortgage 13 yrs ago it was a 70,000 loan , ive payed 700 a month for 13 years approx that about 154 155 months at 700 so ive paid 108,000 and i still owe 55000 kinda a scam really

Costa Rica living in an enclosed expat compound community with security guards 24/7 . No thanks.

After I sent the final payoff amount, the mortgage company said they would send notice of clear title to my county Recorder of Deeds. I was expecting to get something in the mail but never did. Finally I thought to go to the Deeds website and I am listed there as having clear title, but if I want a printed copy I have to go there and get it.

That makes no sense. You are paying property tax if you have a mortgage or not. They just include the taxes in your payments.

His problem is living in Chicago.

No.. with mortgage rates at 2.25% while real inflation rates are much higher, it makes more sense to put no money down and make minimum payments.

They front load the interest. You don’t start paying more principle than interest until about halfway into the loan.

Got two ranches free and clear.
Everything else is paid for, like vehicles.

Feels great!

This is an interesting argument. I think cash is always better though. I think compounding interest rates aren’t there to help you out. They are going make money on you. You can always say you can invest that money elsewhere but you can also lose that money. If you pay your house off you can invest the money you save and have the peace of mind that if your income drops your monthly expenses are much easier to manage. Plus I would imagine if you do ever want a loan or whatever if you have a good amount of assets and low debt to income it will save you money if you ever really have to get a loan.

Paid off. But we live in Texas where there's no property tax for combat disabled veterans. So our situation is the exception.

Not yet.

Hopefully within the next 3-5 years.

Probably could have done so by now, but I treated myself to a few perks and experiences along the way.

Didn't need the pool or hot tub.

But they've been enjoyed thoroughly and were worth every cent!

I paid cash for my place when I retired. I sold a more expensive property in a high value city area, and moved to a rural community, and got a smaller house on a couple of acres. I love living in the woods with really low property taxes, about $200 a month.

Rents and mortgages in town average about $1,800 a month, so there's no going back for me.

Most mortgages are $1000-$2000 per month.

Most property taxes are $100 - $400 per month.


If he's paying $1000+ a month for property taxes then he's not living a normal-average home. More like living in a luxury estate.

It feels good. Still have to plan on $500 a month for property tax and insurance.

.

Yep.....my renters paid off my mortgages......been mortgage free and it feels great.....

My neighbor's property taxes are added onto his mortgage payment, so he's not able to make a annual property tax payment, and save 2 1/2% on his property taxes.

I always pay in a lump sum once a year, to save money. I also do it with my insurances.

...yeah, but you’re gonna die, like literally any day, now.

Try that in New York or CT. Some people are paying 20k a year for taxes and insurance.

Serves them right. Don’t they know they could move- nevermind, I don’t want anymore neighbors...

I'm at $262 a month ($3150 annual) for taxes and insurance for a 1700 sq. ft. on about 3 acres.

One of my brothers sold his 2800 sq. ft. place on 20 acres and moved into a retirement place where you don't own the house, and pay $2,500 a month maintenance fees, plus a $250,000 buy-in. Granted he's a millionaire, but it still sounds like a stupid thing to do.

Same story here. We paid off our mortgage too, also live in a suburb of Chicago, and are paying more in property taxes than we did when the mortgage, insurance AND the property taxes were all combined in our mortgage payment.

If I knew then what I know now, I would have paid it off, sold it and got the hell outta Illinois.

I'm retiring in October, and will have about 30 months of mortgage payments remaining.

It is liberating. Now that money can be spent on renovations.

Taxes stay the same. Still have to pay for home owners insurance.

It is liberating.

Less then ten years 300,000

Worth the pay off

Made some sacrifices,

never paid for a phone (free lower model phone) and kept cheap cell service. That alone is more then Ten thousand Over ten years

36 month Lease new car( pay off after 3rd year) and paid cash for cheap vehicle. That alone is 10k -20k from interest saved not borrowing from bank.

clothes on sale another 10k

No animals probably a few grand over ten years

Food was the only exception, but never went crazy and ate expensive meals. Groceries and a few dinner outs. So probably saved some money.

One vacation over seas, free plane and hotel from credit card rewards. Compared to regular folks, probably saved Atleast 10k over ten years. Trips to grandmas near lake was other vacations.

New house kept from spending money on upgrades

Cheap ass furniture, our decorations do not look like a commercial furniture display. Probably Atleast 10k saved over ten years

You can find ways to save, many reasons Americans are in debt. And ultimately lose home or pay on it for 30-50 years.

Good luck

Wether you pay the house off or not

You always have property taxes

Are you guys saying since you had property tax and insurance added into your house payment. Escrow account it is called.

You never realized how high the property tax was?

Of course property taxes are high unless you live in a rural area with low property taxes. 500$ every year in some counties.

In some cities 500$ -1000$ every month.

I guess most people don’t understand that? No wonder

This always freaks my husband out We own three houses..but there are no titles.. when you pay cash they are just recorded with the county deeds office.. seems like you should have something..lol..nope

Bull. There are many areas in USA the taxes are more than the principal and interest.

The fuck you say!!!

You must live in dreamland or a total dump.