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Home > Mortgage paid off!! Totally debt-free!

Mortgage paid off!! Totally debt-free!

August 27th, 2019 at 01:55 pm

I posted this on the boards but thought I'd share here, too.

We just paid off our mortgage. For the first time in our adult lives, we are completely debt-free.

The financial impact of not having that payment anymore will take a month or so to really kick in, but our scheduled P&I was about $700 and I've been paying an extra $1,000/month or more so it really frees up $1,700/month.

The plan right now is to mostly add it to savings. We may start seriously talking about increasing our presence in Florida somehow. DW and I haven't discussed it in great detail but I'm thinking we might think about doing a "snow bird rental" for a month or two during the winter. She could spend time down there and I could travel back and forth arranging my time off to get down as much as I can without using up too much PTO. We'll see. If not this winter, probably next winter. It might be a bit late to plan it for this year.

So that's our big news.

14 Responses to “Mortgage paid off!! Totally debt-free!”

  1. rob62521 Says:

    Congratulations! You will wonder how in the world you did it, but it is so freeing not to have to worry about a mortgage!

  2. Dido Says:

    Mazel tov! What a nice feeling that must be! Enjoy!

  3. creditcardfree Says:

    Congratulations!! That is big news.

  4. beawealthywarrior Says:

    Awesome and congrats!! There's nothing like owning your home free and clear Smile

  5. disneysteve Says:

    Of course, thanks to taxes and other costs, our home will still be our largest single monthly expense by far but at least it won't be as large as it was before.

  6. Jenn Says:

    That must be a wonderful feeling. Congratulations!

  7. mumof2 Says:

    Awesome...congrats...what an exciting thing to be completely debt free...you must be so proud of all that you have achieved

  8. Shiela Says:

    That's great. Well done!

  9. CB in the City Says:

    That's wonderful!

  10. Petunia 100 Says:

    That's wonderful, Steve. Congrats on accomplishing this goal. Smile

  11. crazyliblady Says:

    Congratulations! That is awesome! I recommend a celebration. Big Grin

  12. GoodLiving Says:

    Fantastic! Congrats!

  13. fireandi Says:

    Congratulations! That is wonderful news. $1700/mo extra is substantial. Good for you. It's motivating to read about this.

  14. FrugalTexan75 Says:

    Great news!

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