That's fantastic!! 6.5 years, wow!

Whoop!

Congratulations.

Wonderful news, brother !!!

Be sure to ask Warhorse about RVs...

We have a travel trailer.

If i were able, kinda like the Winnebago Revel

If the RV's a-rockin', don't come a-knockin'...

My mortgage was back in the day of about 8 1/2 percent. Talk about an expensive loan! Fortunately I finished it probably 20 years ago but what a relief. Congratulations on yours!!

The Dave Ramsey show would love to hear this on air. Pretty awsome lady.

When wife and I built our house, we went with a 15-year mortgage instead of the standard 20- or 30- versions. We paid it off in October 2008, just when the Stock Market crashed due to the prime loan mortgage crap of Fannie Mae and Freddie Mac.

Since then, we’ve been putting aside the same amount of the monthly mortgage payments into a savings account which we’ve used for house repairs, improvements, and vacation requirements. This might not be a bad idea to have as it’ll give you some freedom and peace of mind should emergencies arise.

Congratulations !!! Now use some of that and invest for both of your futures !!! God Bless

What a great story. What a great wife!

Congrats! We paid off our mortgage on Wednesday. Feels great!

Yep, it's a very liberating feeling when your Castle is really yours! We bought our current home when I was 38 and went with the 15 yr loan because after crunching the figures we saved over 80k that way and the payments were only a $150. more a month. I had to talk the wife into it as we were stretched for a few years to make those higher payments because we were putting our two girls through private schools. But it was well worth the strain.

That is awesome news she definitely is a keeper. 6.5 years is an amazing payoff time period.

We did something similar. We were closing in on retirement and spent the last 3 working years concentrating all our extra money on reducing debt. Shortly before we pulled the plug on our jobs, we succeeded on retiring all of our debt and have remained debt free ever since.

The feeling of financial freedom is overwhelming........

Congratulations!

WHEW! I'm so happy for you (and to know you didn't screw something up). Us guys have to stick together!

Damn I thought for sure you were going to get another child. Congrats on the extra cash flow now. Your wife did good and you never knew it was happening

Ms. Bytes and I decided to pay our mortgage off for our Christmas present. It was pretty fun dropping the check off at our local Chase branch. It was the second most fun thing her and I have done together. Congrats to you and your family DF!

Yeah, I got one of those a couple decades ago.

Have to set the stage: I was entertaining leaving IBM for various reasons, wife and I had been talking about it for some time.

Came home from work one day and the Mrs proceeded to inform me that she had paid off the mortgage on the house. Seems she figured that if we/I left IBM we could not afford the house payment, so she used our "reserve account" money to pay off the mortgage. That her plan was to put those mortgage payments we no longer had back into that account, instead of to the bank.

Not a bad plan. It worked, and I stayed with IBM until I retired.

Those are the "bombs" that we really, really like to have dropped on us.

quote:

Originally posted by Copefree:
6.5 years .. damn!

I was just thinking last week about how nice it would be to pay our house off in 15 years. We are only 1.5 years into a 30 year note.

I’d have to throw an additional $975 or so at it each month to accomplish it. But how nice would that be?!?

Congrats.

You might check with your mortgage holder to see about paying more each month. Don't know of any banks, etc, who can prevent it. Make sure that extra money goes toward the principle balance, and the lender does not use some funny accounting to try to defeat the idea of paying it off sooner! Paying it off sooner costs them money.

We were doing that when Mrs. Elk paid off the balance, from our "emergency" account.

That's fantastic! There is no better feeling than being out of debt.