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Mortgage Payoff

November 25th, 2008 at 05:51 pm

FINALLY the mortgage is paid! 10 years early, thanks to a re-payment of a loan. I had always paid additional principle since the first payment and had about 5- 1/2 years left. Nice to take a breath from it!

Since Jan '08, car is paid for also. My monthly expense is now down to $900 - $1,000 because of utilities fluxuation.

Now to focus on the 'little' bills/debts. My goal for '09 is to eliminate these since I can now add the former mortgage payment to these.

14 Responses to “Mortgage Payoff”

  1. disneysteve Says:

    Wow! That's great. Congratulations.

    I'm looking forward to paying off a home equity loan shortly and I'm happy about that. Paying off the mortgage is still probably 15 years away, though it may be shorter if I start throwing some extra money toward it.

  2. PauletteGoddard Says:

    Oooh lovely! Bet that feels great!

  3. Frugal Momma Says:

    Congratulations that is great news!

  4. KellyB Says:

    Wow, fantastic! Congratulations! Can you post more details on exactly how much/how you did it 10 years early?

  5. Petunia Says:

    Good work!

  6. Ima saver Says:

    Congratulations. In the old days they would have had a mortgage burning party! I bought my husband a t shirt with a picture of our house on it, and the words, 'IT'S PAID FOR" when I paid off our house.

  7. creditcardfree Says:

    Congratulations!! That is a wonderful milestone to have reached.

  8. Myrtle Says:

    That is just wonderful!!!! I am so happy for you. You deserve a nice pat on the back!

  9. tripods68 Says:

    Congratulations! We won't know that feeling in 25 more years. Well done.

  10. NJDebbie Says:

    Wow...good for you!

  11. clubneary Says:

    Great job! I can imagine what I HUGE relief that is!

  12. monkeymama Says:

    Yay!

  13. thkgranny Says:

    Thanks to everyone for your kind comments! It is a relief and I wish the same for all of you!

    KellyB - for the first 10 years, my company would pay you for 6 sick days in Dec. if you had 18 sick days built up. I would take that full amount and put it down on the principle with the February payment. Every month I added $50 to our payment which went directly towards principle. The last five years I have upped that to $60. The loan repayment received made the final chunk attainable!
    Now to pay off the Home Equity loan and some medical bills!

  14. Koppur Says:

    Congrats!!!

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