# Woo-Hoo!



## DAKSY (Nov 29, 2012)

I just wrote the FINAL (read: PAYOFF) check to the Bank of America for the mortgage on our house. Doesn't make us any richer, but at least we can afford to pay our $8K yearly tax bill (for a couple of years, anyway). Just thought I'd share...


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## WhitePine (Nov 29, 2012)

$8K?  

Ouch. Congrats on the payoff, though. We did the same thing. No debts feels very good.


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## firefighterjake (Nov 29, 2012)

I think I've got another 2 years.


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## Jack Straw (Nov 29, 2012)

Way to go Daksy that and super moderator, you are having a hell of year! I also have 2 years to go. My taxes are only $4500


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## webbie (Nov 29, 2012)

Congrats! Paid off the house and then all the kids college....now I don't know what to do with my money! All of a sudden more is coming in than going out!


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## DAKSY (Nov 29, 2012)

webbie said:


> Congrats! Paid off the house and then all the kids college....now I don't know what to do with my money! All of a sudden more is coming in than going out!


 
Geez. I can only HOPE to live long enough for that to happen...


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## webbie (Nov 29, 2012)

DAKSY said:


> Geez. I can only HOPE to live long enough for that to happen...


 
Yeah, the problem is that once the money starts flowing, your testostorone STOPS flowing......so hang gliding and mountain climbing is out of the picture. I can spend some money sailing...


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## velvetfoot (Nov 29, 2012)

It's not like we get a lot for our taxes, right?


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## Jack Straw (Nov 29, 2012)

It looks like a big nooooo for the Powerball for any of us around here


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## DAKSY (Nov 29, 2012)

webbie said:


> Yeah, the problem is that once the money starts flowing, your testostorone STOPS flowing......so hang gliding and mountain climbing is out of the picture. I can spend some money sailing...


 
There's STILL my Ultra. With the idiots in their cages on the same roads, I get plenty of Adrenaline bursts. That kinda works like "Replacement Testosterone Therapy"...


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## DAKSY (Nov 29, 2012)

velvetfoot said:


> It's not like we get a lot for our taxes, right?


 
You would know, neighbor. Plowed roads & a street light where my street intersects Burden Lake Rd.  
No trash pickup. Sewer is taxed & the grinder pump is powered by MY electrical panel. I guess I could go up to the High School & see if I could jog around the track without keeling over...


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## jharkin (Nov 29, 2012)

Wow congrats daks! We just did a refi here, only 30 years to go


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## DAKSY (Nov 29, 2012)

jharkin said:


> Wow congrats daks! We just did a refi here, only 30 years to go


 
Yow. 30 years. Well, I bought the house 27 years ago & it took THREE refinances to get the mortgage down to an acceptable rate. 1985 the Interest Rate was 11.5% for a 30-year loan I paid two years at about $750 a month & the principle went down $200. Refied once at 9.3% in 93 (20 years) & then another at 4.75% in 99 (15 years)...All done.


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## corey21 (Nov 29, 2012)

Congrats.


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## jharkin (Nov 29, 2012)

DAKSY said:


> Yow. 30 years. Well, I bought the house 27 years ago & it took THREE refinances to get the mortgage down to an acceptable rate. 1985 the Interest Rate was 11.5% for a 30-year loan I paid two years at about $750 a month & the principle went down $200. Refied once at 9.3% in 93 (20 years) & then another at 4.75% in 99 (15 years)...All done.


 
Don't feel bad for me we only bought the house 3 years ago. The rates for a 15 year were not low enough to make that doable, but going to a new 30 cut our rate from 4.75 to 3.5% AND let us drop the PMI and escrows. All told its saving us more per month than Ive gotten in raises the last few years 

Figure that once the kids are in school and my wife goes back to work we will start paying extra into the monthly and aim to shavea few years off it.


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## firebroad (Nov 29, 2012)

Yippie-I-Ay!!  Wunderful, Daksy.  Now, don't be going out and get some mid-life crisis vehicle just cuz you don't have a mortgage.


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## PapaDave (Nov 29, 2012)

Great news Daksy.
Now, all that's needed is to move to get rid of the tax bill.


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## BrotherBart (Nov 29, 2012)

With any luck this barn will be paid off in January. Congrats Daks.


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## yooperdave (Nov 29, 2012)

Great!  I have about 4-5 years (max) left on the cottage.  I always try to makae the monthly and add a little extra to be applied to the principal at that point.  Makes quite a difference that way.  I hear you about the jump start for the heart from the motorists while on the bike.  Around here, it seems that deer are more of a problem, though.  Although I've had my share of bad driver encounters also.  Ride safe.


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## pen (Nov 29, 2012)

Congrats dak!

pen


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## Adios Pantalones (Nov 30, 2012)

So cool! We're trying to knock ours down ASAP.


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## eclecticcottage (Nov 30, 2012)

Congrats!  I can't wait to do that.

We're close to paying off the Old House, but a few years out on the Cottage (took a home equity on the Old House to buy it along with savings).  Once we get the Cottage fixed up we're going to go through the Old House and fix all the stuff we never finished while living there and rent it out.  THEN we should be able to pay off that mortgage and the home equity in 2-3 years since we bought that place cheap and we'll just apply most of the rent and the $$ we save from not paying utility bills right to the principle on the loans while continuing to pay the regular payments.  We paid into the principle on the Old House many times over the past 15 years since we bought it, so we'll pay off well before the 30 years on that loan are up.

We're lucky with taxes, both places are small (about 850 and 700 sq feet) w/o central heat so we're not assessed too high-I think the Old House runs about $1,900 a year and the Cottage about $2,200.


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## Gary_602z (Nov 30, 2012)

House has been paid off for about 4 years, my ratted and rusted out truck for over 6 years. The Dragon Lady has a small car payment and a little bit yet on her kitchen remodel.  Man am I glad that I don't have any payments at my age (56). Kids are gone wife has a good job with Bennies (35 years at same place),and my hours are down to  60 hours a week!  Golden years my ass!

Gary


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## Flatbedford (Nov 30, 2012)

Congrats. We'll also be starting a new 30 year refi soon. We're 9 years into the first 30, but the lower rate will be worth it. We can pay off in the same time and spend less money.


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## woodgeek (Dec 1, 2012)

DAKSY, you give me hope.

Bought in 2005, second refi was last year into a 15 yr product....14 years to go.  Getting (slightly) itchy to do another 15 yr refi....current quotes are 2.375%  But they could go lower yet....


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## Tramontana (Dec 1, 2012)

Congratulations!  It must feel good to have that bit of independence.

Cheers!


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## Backwoods Savage (Dec 1, 2012)

DAKSY said:


> I just wrote the FINAL (read: PAYOFF) check to the Bank of America for the mortgage on our house. Doesn't make us any richer, but at least we can afford to pay our $8K yearly tax bill (for a couple of years, anyway). Just thought I'd share...


 
And to think that we received our tax bill yesterday and were complaining that we have to pay $800 this year... As for the mortgage, we have not paid a mortgage now for about 34 years. Believe me, it is sweet!


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## Melissa220 (Dec 1, 2012)

Congrats. Got to be a wonderful feeling.  I had 10 years to go and then the divorce.....Now under a 30 year weight with 15 years to retirement.  Bad math there!


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## Eatonpcat (Dec 5, 2012)

Good for you guys...Now I have to get back to work so I can pay mine!


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## Curly (Dec 5, 2012)

Congrats Daksy. I'd probably retire if mine were paid off but I have another 11 to go. Refied from a 30 to a 15. I wanted to refi again to drop the rate but it wasn't worth it considering points and other fees. It's better to just apply more money to principle every month. For all of you that are considering a refi, go to this site and download the free calculator. I've used it many times to see what my payments could be or how soon I can pay off my loan by sending extra $. It's pretty cool.

http://www.hsh.com/hbcalc.html


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