I paid off my house

[storm rider]

I made the final payment recently and took care of my mortgage.I have been hitting it with good sized yearly over payments for several years and I also had my monthly payments doubled up for quite some time.I also adjusted the ammortisation period after I got CMHC out of the picture when my interest rate dropped.All told it took me 11 years and it is nice to get that monkey off my back

SR

 

[timbits2014]

Are u going to celebrate with banging a escort?

 

[vancity_cowboy]

congrats stormy - you've acheived a rare honour...

too few people count all their mortgage payments when they are quoting the price they pay for their house. it often amounts to 3 to 4 times (or more) the principle purchase price

:thumb:

 

[Nicole40DDD]

Congrats.

 

[Harmony-bc]

Wow !! That's huge. Most people live beyond their means and live on credit. Congratulations !!!

 

[mimi]

Congrats!!! I remember the feeling well...I was 27 when I owned everything 'clear title'. I felt like life was stretching out before me with no burdens and endless possibilities. Then, the endless possibilities seemed to require a certain amount of cash, like big down payments on business ventures that were sure to be wildly successful; and, where to get that kind of money? Out of your property, for sure!

One piece of advice: keep the title clear no matter what temptations lie ahead

 

[PlayfulAlex]

Congratulations, Storm Rider, that's a great accomplishment! I wonder if any new first time buyers will be able to make that claim in 11 years time!

 

[storm rider]

Congrats!!! I remember the feeling well...I was 27 when I owned everything 'clear title'. I felt like life was stretching out before me with no burdens and endless possibilities. Then, the endless possibilities seemed to require a certain amount of cash, like big down payments on business ventures that were sure to be wildly successful; and, where to get that kind of money? Out of your property, for sure!

One piece of advice: keep the title clear no matter what temptations lie ahead

That is advice that is as sound as the granite in the Canadian Sheild and I thank you for it but I had allready set my mind on NEVER taking equity out of the house via a HELOC through my bank or with a sleazy company like Arron Acceptance or the like.The only way I take equity out is if I sell the place which is highly doubtfull.

Truth be told when I bought the place I was told I "could not afford it" and got stuck with a 3 year high ratio mortgage.For a guy who "could not afford it" over 25 years and got it paid off in 11 I am of the opinion that the person who decided I "could not afford it" should not have a job as that person sure dont know jack shit.

SR