Today, I woke up....in a paid off house.

[mousefan73]

Yesterday, we paid our mortgage off. Today, we woke up for the first time in a house that we paid off.

We had bagels for breakfast and it was pretty uneventful. We haven’t told anyone, and don’t plan to, but all day if I caught my DH’s eye, we just had a little smile. We were with lots of relatives today.

I know from a previous post that tons of you have paid off your mortgages already. I don’t know how I thought I’d feel..... I guess excited. Happy. Relieved.

Did you feel any different?

Congrats! Now you can save for the new furnance and roof! It is a nice feeling. And a sense of financial security.

 

[mousefan73]

Yes, we have a super busy weekend with family in town for Easter. I’m sure they thought we were sleeping in but we went over to the bank early in the morning and paid it off. Then we met up with family later in the morning. It’s just going to be one of those secrets we keep to ourselves. I wouldn’t feel right telling our family. I know people used to have mortgage burning celebrations but that’s not really anything we’d do.

Something like this I have kept quiet. My mom knows and maybe a few others. IMO when you have others struggling bragging by throwing a party about this can be insensitive.

 

[Meriweather]

Congratulations!!
Feels so good not to have that bill to pay every month.
It was great for us, but I don't think there was any celebration or anything. Just another day.

 

[Marchand63]

Something like this I have kept quiet. My mom knows and maybe a few others. IMO when you have others struggling bragging by throwing a party about this can be insensitive.

Why would it be a brag? It is a great event in a lifetime to pay off your house. It's not like look at me I did something noone has ever done.

We had a get together and everyone there celebrated with us no matter their financial level. Not being able to celebrate an event in your life because it might hurt someone's feeling seems sad. If they are your friends they would be happy for you. Would you not invite a friend to a housewarming if they only had an apartment?

My DM just passed last month doesn't mean I can't celebrate the birth of a friend's child or their birthday because I am grieving.

 

[Skellingtonj]

Congratulations!

 

[ronandannette]

Why would it be a brag? It is a great event in a lifetime to pay off your house. It's not like look at me I did something noone has ever done.

We had a get together and everyone there celebrated with us no matter their financial level. Not being able to celebrate an event in your life because it might hurt someone's feeling seems sad. If they are your friends they would be happy for you. Would you not invite a friend to a housewarming if they only had an apartment?

My DM just passed last month doesn't mean I can't celebrate the birth of a friend's child or their birthday because I am grieving.

I agree with this. I doubt we'd throw ourselves a party but we'd gladly attend if we were invited to one and celebrate the heck out of it!

P.S. Condolences on your loss @Marchand63 and I hope you are able to treasure your sweet memories as you move forward. We lost a very close friend a month ago and all of us are very concerned for his wife; she's isolating quite extremely. He wouldn't have wanted that.

 

[rickybobby]

So sorry for you. No more writing off the interest paid yearly.

 

[Marchand63]

I agree with this. I doubt we'd throw ourselves a party but we'd gladly attend if we were invited to one and celebrate the heck out of it!

P.S. Condolences on your loss @Marchand63 and I hope you are able to treasure your sweet memories as you move forward. We lost a very close friend a month ago and all of us are very concerned for his wife; she's isolating quite extremely. He wouldn't have wanted that.

Thank you she was 92 with dementia so it is a grief with relief scenario

 

[ronandannette]

Thank you she was 92 with dementia so it is a grief with relief scenario

Been there - exactly, except our DM languished until she was 99. Grace and peace to you.

 

[ronandannette]

So sorry for you. No more writing off the interest paid yearly.

Man, do I wish we had that deduction in Canada. We're still in the relatively early stages of our mortgage and paying a butt-ton of interest; knocking $20,000 or so right off the top of my taxable income would almost make tax time fun!!

 

[barkley]

So sorry for you. No more writing off the interest paid yearly.

they can dry their tears with all the envelopes and postcards they will get offering them new loans (I swear, I think once the bank removes their lien it triggers an unending avalanche of new credit offers).

 

[Marchand63]

Just realized I didn't say - CONGRATULATIONS!!!!!!!!!!!!!!!!!

 

[traces7]

Congratulations! We'll have ours paid off this year too! We have 2 more payments left! I keep counting them down! Didn't know if we should do something special to celebrate or not, haven't decided yet. I just can't imagine how it will feel! Exciting though! Most of that money will probably go toward DD's college tuition. But I will be happy to help her, so she doesn't have to go into debt so much.

 

[AnnaS]

Congratulations!! It's a great feeling. We did not tell anyone when we paid off ours many years ago. It made a big difference having three kids in private schools and college coming up. It was one less headache to worry about too when hubby got sick a few yeas later.

Enjoy the little peace of mind.

 

[John VN]

Congratulations

 

[paisleys]

we initially thought it would take us much longer than it did b/c we couldn't afford to put much more towards the principle but then I started playing around with online mortgage calculators and saw the number of months just a hundred or so a month reduced the life of the loan so we started with whatever extra money we could afford (maybe $100 or so), then it became like a game-seeing where we could find money to throw at the principle. if we underspent what we had budgeted for a vacation or Christmas it got thrown at principle, if there was money left over at the end of the month after everything was paid for (including what we continued to put into savings)-it got thrown at it, if we got even a $25 a month raise in income it got thrown at it. it helped that our mortgage was set up at the same credit union as our bank accounts so we could go online at any time and make a payment transfer from any of our accounts. every little bit helps so don't feel like you have to wait until you can double your payments.

Congratulations Grumpy's gal!
Love this thread! I always throw an extra $500 a month towards our principal, but haven't used a mortgage calculator to see the effect yet--heading right there now after reading the above. This is going to be my new goal.
ps We did just paid off the new car we bought last June and it was exciting. Can't imagine the mortgage!

 

[dclpluto]

So sorry for you. No more writing off the interest paid yearly.

If your house is about paid off you probably don’t have enough in interest to make it worth while to do the long form anyway. I would rather have my house paid off instead of paying that interest.

 

[dclpluto]

Congrats

 

[mom2rb]

Congratulations! On Thursday, I paid off everything but the house. I even went and paid off the cell phones. I am refinancing the house and the HELOC into one loan, at a better rate next week. After that every dime that is not going to college for the kids is going into the house.

I can’t wait to be where you are now!

 

[rickybobby]

If your house is about paid off you probably don’t have enough in interest to make it worth while to do the long form anyway. I would rather have my house paid off instead of paying that interest.

It was a joke.