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No more mortgage!
Old 01-21-2010, 09:24 PM   #1
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No more mortgage!

Wire transferred the final payment on our mortgage, yahooooo Don't even care if it makes sense to pay it off or not, but it feels great! 36 month countdown to ER.
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Old 01-21-2010, 09:30 PM   #2
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Congratulations Lightspeed!
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Old 01-21-2010, 09:37 PM   #3
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Great!!! It is so wonderful to set a goal and see it through.

I remember how I felt on the day when I payed off my mortgage - - VERY HAPPY! Incidently I paid mine off about three years before I retired, too.
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Old 01-21-2010, 09:53 PM   #4
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Congrats! I paid mine off in early 2008. I sold stock to do it so it was fortuitous if unintentional market timing.
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Old 01-21-2010, 09:58 PM   #5
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it does feel good, doesnt it, very liberating. congrats
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Old 01-21-2010, 10:02 PM   #6
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Congrats! I'm excited because I recently came up with a plan for paying ours off by the time we hope to FIRE - can't imagine how great it must feel to actually do it!
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Old 01-21-2010, 10:02 PM   #7
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Thanks, all. And my son just made me a paper chain with 36 links, one to pick off each month until ER. Kind of like being a kid and counting down the days to Christmas!
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Old 01-21-2010, 10:49 PM   #8
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Excellent news! Nothing like the feeling of losing that ball and chain...
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Old 01-21-2010, 11:05 PM   #9
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I'll never forget when we made our last payment! Congratulations on a huge milestone!
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Old 01-21-2010, 11:05 PM   #10
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Well...here's another member that paid the mortgage off without our opinion...

Congratulations lightspeed!
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Old 01-22-2010, 02:17 AM   #11
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Congratulations and enjoy. Don't forget you have to pay your property taxes and insurance yourself.
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Old 01-22-2010, 06:46 AM   #12
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Congratulations Lightspeed I know that it feels very liberating.

Now you can enjoy the ritual destruction of a paper link on the 1st of every month instead of sending that mortgage payment.

You have 3 years to plan what you'll do once that last link is destroyed
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Old 01-22-2010, 06:53 AM   #13
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Congrats! It does feel good to have that burden lifted, doesn't it!
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Old 01-22-2010, 07:33 AM   #14
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Way to go. We did ours last June and felt great (and still does)!!
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Old 01-22-2010, 07:53 AM   #15
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I love these threads.

Congrats!
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Old 01-22-2010, 08:10 AM   #16
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Congrats. It definitely is a good feeling. I would not have taken early retirement without having ours paid off.
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Old 01-22-2010, 08:18 AM   #17
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Congrats! I paid mine off in 1998 via electronic payment. Removing this monthly payment enabled me to semi-retire in 2001 and that led to my fully retiring in 2008.

One other thing paying off the mortgage did was to simplify my state income taxes because I did not itemize my deductions there for a while. [I still itemized on my federal return, and I will be itemizing once again on my state return now that I have retired.]
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Old 01-22-2010, 08:47 AM   #18
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It is very a liberating feeling. "Don't owe nobody nuthin'".
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Old 01-22-2010, 08:55 AM   #19
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In two years I will be feeling the same joy... can't wait.

Becoming mortgage free is one of the main pillars of my FIRE plan...
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Old 01-22-2010, 09:41 AM   #20
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Congratulations!!
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