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How Many Homeowners Have Paid Off Their Mortgages?
Five Thirty Eight ^ | 12/11/2014 | Mona Chalabi

Posted on 12/11/2014 7:21:10 PM PST by SeekAndFind

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To: Ken H

heck, I am sure AC and water are a killer too :)


21 posted on 12/11/2014 7:42:18 PM PST by TexasFreeper2009 (Obama lied .. the economy died.)
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To: SeekAndFind

Around 1980, Daddy sold timber off his land, specifying that only pines be cut, leaving all the hardwood. I was a little surprised how much he got considering the land was mostly hardwood.

It was three times what he originally paid for the land and house.


22 posted on 12/11/2014 7:44:54 PM PST by yarddog (Romans 8:38-39, For I am persuaded.)
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To: SeekAndFind
I had my Massachusetts house paid off a couple years ago. Then I had to go ahead and sell it and move to southern Connecticut!

Now I'm back with a mortgage and living in an area that has some of the highest cost of living in the country. The equivalent of a $500,000 home where I came from is over a million dollars here.

I will say this though, Fairfield County is a much nicer place to live than Massachusetts. Pretty much zero crime, better restaurants and friendly people.

Traffic...about the same.

23 posted on 12/11/2014 7:45:14 PM PST by SamAdams76
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To: AlaskaErik

Exactly! Good Ret. planning Alaska.


24 posted on 12/11/2014 7:45:59 PM PST by bobby.223 (Retired up in the snowy mountains of the American Redoubt and it's a great life!)
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To: JRandomFreeper

Tell me about it. I’m mortgage free too, but my property taxes have effectively taken the place of my mortgage.


25 posted on 12/11/2014 7:47:39 PM PST by rbg81
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To: SeekAndFind

House and all three cars paid off.

Just have this stupid student loan that wasn’t worth the money, and wifes medical expenses as debt now.


26 posted on 12/11/2014 7:56:56 PM PST by Domandred (Fdisk, format, and reinstall the entire .gov system.)
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To: SeekAndFind

A lot of the rental homes don’t have a mortgage on them either. They are not including that in their calculations.


27 posted on 12/11/2014 8:02:10 PM PST by Lorianne (fed pork, bailouts, gone taxmoney)
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To: Soul of the South

In my county, there are 75% of the populous that have home values off 50 to 70% since the 2007 peak. Out in the country, rural areas, all we ever saw was about a 20% drop. Year after year those living on acreage are carrying twice the load then those in the tightly packed developments do.
Just damn. Same living space can be $3000 a year vs. $1100.

This is Pasco County, Florida, 33523


28 posted on 12/11/2014 8:11:13 PM PST by George from New England (escaped CT in 2006, now living north of Tampa)
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To: SeekAndFind

8 more payments. Taxes and Insurance average @ $150.00 a month. House has doubled in price during 15 year loan-Texas Hill Country. Be 59, retired, very, very soon.


29 posted on 12/11/2014 8:12:04 PM PST by corbe (mystified)
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To: SeekAndFind

No mortgage here.


30 posted on 12/11/2014 8:13:32 PM PST by kjam22 (my music video "If My People" at https://www.youtube.com/watch?v=74b20RjILy4)
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To: SeekAndFind
We had our home paid off in NINE years because we worked for Saudi ARAMCO for five years. We bought the home after being there for only TWO years; we stayed there a total of five years but had enough money to pay off the mortgage early.

I remember SO WELL that l-a-s-t payment after only nine years. We savored it!

31 posted on 12/11/2014 8:25:04 PM PST by cloudmountain
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To: lightman
Free and clear since March but taxes & insurance are about $600.00/month.

Paid off about 6 years ago. My taxes and insurance are the same as yours and that is what I find most troubling. We are rural and have local police service and the bare minimum of snow removal. Our fire and ambulance is volunteer, private trash and we are on well and septic. Road hasn't been repaved in over 16 years. That is it for service, however school taxes are the big taking.

The taking is the ever increasing school taxes now at over $420 per month. We at one time had a decent school, but the SATs and every other metric has been rapidly declining over the past 4 years.

Public education is not sustainable, nor is it functional. Everyone could benefit from school choice, including an aggressive home schooling promotion.
32 posted on 12/11/2014 8:47:20 PM PST by PA Engineer (Liberate America from the Occupation Media.)
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To: SeekAndFind

Paid off years back - sure makes retirement cheaper and lots more enjoyable....


33 posted on 12/11/2014 8:53:59 PM PST by Intolerant in NJ
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To: SeekAndFind
Big choking home mortgage on big house in nice area.

5 kids now all gone. Just getting ready to sell it and capture some equity.

but own several other residential, commercial and industrial properties free and clear. owe some on other properties but all cash flow very well

Always used the house to borrow against and sold / traded investments to to pay off others.

Moving to an investment farm property with natural springs, good soil and an old private cemetery....the end

34 posted on 12/11/2014 8:55:16 PM PST by jcon40
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To: SeekAndFind

Our home is owned free and clear of any mortgage debt. But the sum of county property taxes and homeowners fire insurance premiums run about $300 a month. Nothing is free.


35 posted on 12/11/2014 8:59:29 PM PST by HotHunt
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To: HotHunt

You only pay $3600.00 per year in property taxes?

Lucky you.

.


36 posted on 12/11/2014 9:05:41 PM PST by Mears
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To: SeekAndFind

Paid off the house, paid off the ranch that has two more houses, still have to pay taxes to the real owner.

.


37 posted on 12/11/2014 9:09:54 PM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: SamAdams76
Welcome to CT, Sam!

Paid off my 30-year mortgage in 20 years-to-the-day on August 15 this year in Redding, CT.

Agree with you about the locale! House has doubled in value since we moved in here in 1994.

FReegards!

 photo million-vet-march.jpg

38 posted on 12/11/2014 9:17:54 PM PST by Agamemnon (Darwinism is the glue that holds liberalism together)
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To: JRandomFreeper

Dittos!


39 posted on 12/11/2014 9:18:29 PM PST by upchuck (Ferguson: Put your hands down and go to work!)
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To: AlaskaErik

Same here. It was a good feeling that I was able to pay cash for my house. No mortgage, period. It was a reward for years of living below my means and makes for a pleasant retirement.


40 posted on 12/11/2014 9:24:00 PM PST by sparklite2
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