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Is your house paid off? #15810673 02/19/21
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centershot Offline OP
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Curious how many still have a mortgage? If not how old were you when you paid it off? I'm 53 and thinking in the next 5 years I want our house paid off. Still owe 70K on a $350K property but with no other debt I should be able to do it. Don't want to be 70 (or even 60) and still have a mortgage. How about you?


A true sportsman counts his achievements in proportion to the effort involved and fairness of the sport. - S. Pope
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Re: Is your house paid off? [Re: centershot] #15810675 02/19/21
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5sdad Offline
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Been clear for years.


Not a real member - just an ordinary guy who appreciates being able to hang around and say something once in awhile.

Happily Trapped In the Past (Thanks, Joe)

Not only a less than minimally educated person, but stupid and out of touch as well.
Re: Is your house paid off? [Re: centershot] #15810681 02/19/21
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jdunham Offline
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No, but should be by the time I am 55 in 3 years.


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~Molɔ̀ːn Labé Skýla~
Re: Is your house paid off? [Re: centershot] #15810682 02/19/21
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hookeye Offline
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Job loss and divorce.
Yeah, i got one.
Am livin cheap though.

Hopefully pay off before 65.

Give it to my disabled kid.

Last edited by hookeye; 02/19/21.
Re: Is your house paid off? [Re: centershot] #15810689 02/19/21
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gsganzer Offline
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I was 50 when mine was paid off. I think anyone's goal should certainly have it paid off before retirement.

IC-A

Re: Is your house paid off? [Re: centershot] #15810699 02/19/21
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rong Offline
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About 2 yrs to go on this one.

Re: Is your house paid off? [Re: centershot] #15810700 02/19/21
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leesway2 Offline
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Paid mine off Jan 2012 when I retired at 49.

Re: Is your house paid off? [Re: centershot] #15810701 02/19/21
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rost495 Offline
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Never had a house note. Started small, With cash and upgraded and profited, etc... remodels all done by saving cash etc. Don't much believe in payments if we can avoid them. instead we wait.


We can keep Larry Root and all his idiotic blabber and user names on here, but we can't get Ralph back..... Whiskey Tango Foxtrot, over....
Re: Is your house paid off? [Re: centershot] #15810709 02/19/21
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EthanEdwards Offline
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59. Two paid off. Been that way since 2005.


MAGAA!
Re: Is your house paid off? [Re: centershot] #15810712 02/19/21
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deflave Offline
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No idea.

Never asked.


Originally Posted by CowboyTim
Yes, I voted for Biden
IC-B

Re: Is your house paid off? [Re: centershot] #15810714 02/19/21
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mrchongo Online Content
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Have a mtg, but am growing cash in an “offset” savings account. When the accumulating cash equals the declining mtg balance, BAM! I’ll pay it off. Sure, I could just put the extra cash against the debt and save some mtg interest expense, but I just don’t think now is a good time to lose that liquidity. YMMV.


Article 16, Vermont Constitution - “That the people have a right to bear arms for the defence of themselves and the State--and as standing armies in time of peace are dangerous to liberty, they ought not to be kept up...”
Re: Is your house paid off? [Re: centershot] #15810717 02/19/21
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krp Offline
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Paid the last one off in 14 years, been totally debt free for 12 years, I'm 63.

Kent

Re: Is your house paid off? [Re: centershot] #15810718 02/19/21
Joined: Jan 2009
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OrangeOkie Offline
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Originally Posted by centershot
Curious how many still have a mortgage? If not how old were you when you paid it off? I'm 53 and thinking in the next 5 years I want our house paid off. Still owe 70K on a $350K property but with no other debt I should be able to do it. Don't want to be 70 (or even 60) and still have a mortgage. How about you?


I can relate to your thinking. About 10 years ago I set a goal to payoff the mortgage in five years. It was our last debt to pay off. Five years later, we paid off the mortgage. Two years later I retired. Great peace of mind for me seeing that the little wifey will have no worries about shelter, should I pass suddenly. I think you are on the right tract. If I could recommend anything that has worked for me it would be to stay on a strict payment timeline that ensures you are 100% debt free before you retire.


"All that the South has ever desired was that the Union, as established by our forefathers, should be preserved, and that the government, as originally organized, should be administered in purity and truth." – Robert E. Lee
Re: Is your house paid off? [Re: centershot] #15810724 02/19/21
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mirage243 Online Content
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Yep


I was young and bashful back then.
Today,...I'd just knock on her door,..hand her the crab dope, and say, "Rub summa this on ya booger. I'll be back day after tomorrow".
-Bristoe
Re: Is your house paid off? [Re: centershot] #15810730 02/19/21
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dukxdog Offline
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Yes. Totally debt free and well stocked with ammo.


Gun Owners of America & NRA Life Member
https://www.facebook.com/BirdDogBunkhouse57442/
"that shotgun is like a lightening quick well balanced saber...."A swordsman chooses his weapon with care" most certainly applies here...." battue
Re: Is your house paid off? [Re: mrchongo] #15810737 02/19/21
Joined: Jan 2009
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OrangeOkie Offline
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Originally Posted by mrchongo
Have a mtg, but am growing cash in an “offset” savings account. When the accumulating cash equals the declining mtg balance, BAM! I’ll pay it off. Sure, I could just put the extra cash against the debt and save some mtg interest expense, but I just don’t think now is a good time to lose that liquidity. YMMV.


That'll work!


"All that the South has ever desired was that the Union, as established by our forefathers, should be preserved, and that the government, as originally organized, should be administered in purity and truth." – Robert E. Lee
Re: Is your house paid off? [Re: rost495] #15810744 02/19/21
Joined: Jan 2009
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OrangeOkie Offline
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Originally Posted by rost495
Never had a house note. Started small, With cash and upgraded and profited, etc... remodels all done by saving cash etc. Don't much believe in payments if we can avoid them. instead we wait.


Best way to do it!


"All that the South has ever desired was that the Union, as established by our forefathers, should be preserved, and that the government, as originally organized, should be administered in purity and truth." – Robert E. Lee
Re: Is your house paid off? [Re: centershot] #15810752 02/19/21
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KFWA Online Content
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at the moment I have the cash to pay it off in various accounts but I'm scared to empty out my savings, so I probably have maybe 2 more years.

I have the itch to move but I don't want to move in a sellers market as odd as that sounds, since I wouldn't have to sell my home,at least not right away I want to wait until there are a bunch of houses on the market then buy.

Last edited by KFWA; 02/19/21.
Re: Is your house paid off? [Re: centershot] #15810762 02/19/21
Joined: May 2006
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night_owl Offline
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I think a mortgage at today's interest rates is a hedge against inflation.



abusus non tollit usum
Re: Is your house paid off? [Re: centershot] #15810765 02/19/21
Joined: Dec 2017
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Jim1611 Online Content
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Dave Ramsey says it best. "The paid-off home mortgage has taken the place of the BMW as the status symbol of choice."

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