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Paid off our mortgage!

Started by TKehl, April 19, 2017, 08:54:10 AM

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maple flats

Congratulations, great job when so young.
We've paid off several mortgages over the years. I think our first was when I was about 45-46. After that we started buying houses to rent and made the down payment by re-mortgaging our home. Those were then paid off in 5-7 years as well at the rental houses being paid off in 10-12 years. We did that about 5 times, sometimes with home equity loans for the down payment. Then we got older, and after selling 2 rentals we had, we bought our current home ( a duplex, 20 yrs old and it prime area, super condition) for cash. The tenant's rent pays the taxes and over half of the other routine expenses, with no mortgage, no vehicle or other debts either.
Having no mortgage helps one sleep more soundly at night for sure.
logging small time for years but just learning how,  2012 36 HP Mahindra tractor, 3point log arch, 8000# class excavator, lifts 2500# and sets logs on mill precisely where needed, Woodland Mills HM130Max , maple syrup a hobby that consumes my time. looking to learn blacksmithing.

Ljohnsaw

I've been doing over 2x+ payments on my house.  Money got a little tight last year when pouring a lot of concrete at the cabin build so I had to drop back for a few months.  I just re-assesed my mortgage worksheet.  I figured that if I bump up another $60 (on top of the 2x), I will make my final payment next January instead of February.  My original plan was to be done this September when I started hitting it hard 7 years ago.

Then it will just be another 2.5 years to pay off the cabin loan...
John Sawicky

Just North-East of Sacramento...

SkyTrak 9038, Ford 545D FEL, Davis Little Monster backhoe, Case 16+4 Trencher, Home Built 42" capacity/36" cut Bandmill up to 54' long - using it all to build a timber frame cabin.

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