No more mortgage!

[lightspeed]

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.

 

[Gumby]

Congratulations Lightspeed!

 

[W2R]

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.

 

[Maurice]

Congrats! I paid mine off in early 2008. I sold stock to do it so it was fortuitous if unintentional market timing.

 

[jdw_fire]

it does feel good, doesnt it, very liberating. congrats

 

[WM]

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!

 

[lightspeed]

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!

 

[Westernskies]

Excellent news! Nothing like the feeling of losing that ball and chain...

 

[toofrugalformycat]

I'll never forget when we made our last payment! Congratulations on a huge milestone!

 

[bbbamI]

Well...here's another member that paid the mortgage off without our opinion...

Congratulations lightspeed!

 

[bssc]

Congratulations and enjoy. Don't forget you have to pay your property taxes and insurance yourself.

 

[Alan]

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

 

[WhoDaresWins]

Congrats! It does feel good to have that burden lifted, doesn't it!

 

[jwkde]

Way to go. We did ours last June and felt great (and still does)!!

 

[tuixiu]

I love these threads.

Congrats!

 

[Dreamer]

Congrats. It definitely is a good feeling. I would not have taken early retirement without having ours paid off.

 

[scrabbler1]

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.]

 

[Walt34]

It is very a liberating feeling. "Don't owe nobody nuthin'".

 

[Sea Kayaker]

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...

 

[seabourne]

Congratulations!!

 

[lightspeed]

Congratulations Lightspeed ....You have 3 years to plan what you'll do once that last link is destroyed

oh, yeah, I've already started on the list!

 

[brewer12345]

Working on this myself and still thinking through the mechanics of doing it. I just sold some highly appreciated bonds that wll reduce the balance. My intention is to have the whole mortgage paid off by the time to interest rate resets in 12/2014. The question is when and how I exactly do this, since once I send a lump sum in it is gone and not available any more. I think I will pay down the balance to the point that my (larger than required) payments will kill off the rest of the balance by the target date, but am still mulling all of this over.

 

[Dawg52]

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.

Dave won't be happy until you take the next step.

 

[Corporateburnout]

Congratulations.

3 more payments for us.........maybe less if the annual bonus check we receive in Feb is better than expected.

 

[In-control]

Congratulations - I paid mine off a couple of years ago - it is huge constraint off of your ability to retire. Be prepared for banks etc. not understanding how to deal with a person w/o debt.

Now my SO and I can't wait to sell the big house and rent an apartment and be free!

Cheers