FYI #37
What’s a mortgage?
We bought a house we could afford. Yeah, it needed some work (still does) but it’s paid for, the vehicles are paid for, no credit card debt....
Even with reduced interest rates, when you pay off a mortgage, you’re still paying the bank money to borrow theirs and you’re still paying more for the house than it’s worth, in interest payments.
If mr. mm ever loses his job, we don’t have to worry about missing the payments.