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01-21-2010, 08:24 PM
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#1
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Recycles dryer sheets
Join Date: May 2007
Posts: 135
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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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01-21-2010, 08:30 PM
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#2
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Administrator
Join Date: Apr 2006
Posts: 23,039
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Congratulations Lightspeed!
__________________
Living an analog life in the Digital Age.
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01-21-2010, 08:37 PM
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#3
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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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.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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01-21-2010, 08:53 PM
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#4
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Full time employment: Posting here.
Join Date: Oct 2007
Location: New York
Posts: 898
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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.
__________________
Money's just something you need in case you don't die tomorrow.
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01-21-2010, 08:58 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 1,012
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it does feel good, doesnt it, very liberating. congrats
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01-21-2010, 09:02 PM
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#6
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Full time employment: Posting here.
Join Date: Jan 2007
Posts: 582
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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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01-21-2010, 09:02 PM
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#7
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Recycles dryer sheets
Join Date: May 2007
Posts: 135
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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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01-21-2010, 09:49 PM
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#8
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gone traveling
Join Date: May 2008
Posts: 3,864
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Excellent news! Nothing like the feeling of losing that ball and chain...
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01-21-2010, 10:05 PM
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#9
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Full time employment: Posting here.
Join Date: Mar 2007
Location: Anchorage
Posts: 731
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I'll never forget when we made our last payment! Congratulations on a huge milestone!
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01-21-2010, 10:05 PM
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#10
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,296
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Well...here's another member that paid the mortgage off without our opinion... 
Congratulations lightspeed!
__________________
There's no need to complicate, our time is short..
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01-22-2010, 01:17 AM
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#11
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Moderator Emeritus
Join Date: Dec 2005
Posts: 10,125
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Congratulations and enjoy. Don't forget you have to pay your property taxes and insurance yourself.
__________________
Angels danced on the day that you were born.
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01-22-2010, 05:46 AM
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#12
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,128
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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
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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01-22-2010, 05:53 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Location: Pittsburgh, PA suburbs
Posts: 1,796
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Congrats! It does feel good to have that burden lifted, doesn't it!
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01-22-2010, 06:33 AM
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#14
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Recycles dryer sheets
Join Date: Jan 2010
Posts: 190
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Way to go. We did ours last June and felt great (and still does)!!
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01-22-2010, 06:53 AM
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#15
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Full time employment: Posting here.
Join Date: Feb 2008
Posts: 920
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I love these threads.
Congrats!
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01-22-2010, 07:10 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Jan 2005
Posts: 3,532
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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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01-22-2010, 07:18 AM
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#17
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2009
Posts: 6,695
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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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01-22-2010, 07:47 AM
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#18
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,340
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It is very a liberating feeling. "Don't owe nobody nuthin'".
__________________
When I was a kid I wanted to be older. This is not what I expected.
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01-22-2010, 07:55 AM
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#19
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Recycles dryer sheets
Join Date: Aug 2009
Location: Vancouver/Gulf Islands/Baja
Posts: 479
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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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01-22-2010, 08:41 AM
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#20
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Recycles dryer sheets
Join Date: Sep 2007
Location: Chicago
Posts: 221
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Congratulations!!
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