Posted on 12/04/2015 11:29:58 AM PST by afraidfortherepublic
A 30-year-old man who has paid off his mortgage in three years has drawn not the admiration but the ire of the Internet.
Sean Cooper, a financial writer and pension analyst, worked three jobs and lived the life of a cheapskate for years while paying down the $255,000 mortgage on his $425,000 bungalow in Toronto, Canada.
Cooper was emotionally scarred after seeing his single mom almost lose their childhood home after she became unemployed in the aftermath of the dotcom crash in the early 2000s.
'I didn't want to be in that situation. I saw how tough it was on her,' he told CBC News.
Cooper had managed to save up $170,000 by working a long list of student jobs while in college and living at home (he claims he paid his mom $600 a month in rent).
Not too long after graduating, he put the downpayment down on the three-bedroom bungalow with basement apartment.
Determined not to be burdened with a mortgage like his mom, he worked his full time daytime job of being a pension analyst, and at nights he burned the midnight oil writing for financial outlets.
But that wasn't all. The staunch vegetarian also took a $13-an-hour job in the meat section of a local supermarket.
'It wasn't the most glamorous job but it helped me pay off my mortgage, so I can't complain,' he told CBC.
(Excerpt) Read more at dailymail.co.uk ...
Jealousy.
:))
That sounded like something I might have said.
Remember, the borrower is slave to the lender. The more debt you have, the more you are a slave...
Wow— good for him. I didn’t even have a house at age 30. Dave Ramsey would be proud. Let the negative losers be losers as their biggest issue resides between their ears and in their chests.
We all make choice and I admire his setting a plan and sticking to it. I was doing other things at his age, like building a family and working two jobs. I was married with children at that point in my life. It's all about balance.
My BIL age 59 should have been so wise. Their home on Long Island was purchased in 98 at 125/k but the dum dum kept piling up credit card debt and then rolling it over to the refinance of the home twice. it got so bad they had to foreclose on the house-— what a waste. I gave him the Dave Ramsey ‘Total Money Makeover’ book back around 2006. Pains me that they didnt wise up and fix those problems. They could have had a nice build up of equity instead. Oh well....being stupid has its consequences.
Nevertheless, kudoes to him for cutting the rope around his neck.
I’ve listened to Dave Ramsey for a long time. I came into a little money about ten years ago and combined with some other funds, I paid off my 30-year mortgage in thirteen years. What a wonderful feeling that was!
And you know, I still had some mathematically challenged co-workers wondering why I’d give up that loan interest tax deduction. Sheeesh!
“The more debt you have, the more you are a slave...”
Doesn’t look like a 400,00+ house to me. Is Toronto an expensive place to live? I paid cash for my house 25 years ago, and mine looks a lot nicer. In a great small town neighborhood too. When I looked at how much interest I’d have to pay, well, that made my decision.
Again, I think what he did is admirable. I just wouldn’t post pictures of myself burning my mortgage slip, etc.
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It is human nature. I paid off my 15 year mortgage back in 2003, after only having it for 9 years. I did not post pictures but I did absolutely have to mention it on F.R.
I see some of it on F.R., people bragging about their home schooled kids. I’ll probably get flak for that last remark..................It is human nature.
Again, I think what he did is admirable. I just wouldn’t post pictures of myself burning my mortgage slip, etc.
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It is human nature. I paid off my 15 year mortgage back in 2003, after only having it for 9 years. I did not post pictures but I did absolutely have to mention it on F.R.
I see some of it on F.R., people bragging about their home schooled kids. I’ll probably get flak for that last remark..................It is human nature.
Toronto is an INSANELY expensive housing market.
A lot of these House Hunter shows for HGTV are shot there.
It’s astounding how little $800K will buy you in that market.
Those who love dependent servitude would hate what he represents. Same as they hate deists, off-the-plantation blacks and non-feminist women.
Yeah, the big boys are terrified some crabs are going to jump out of the pot.
Most Canadian real estate is overpriced due to the Chinese money coming in.
So what is everyone's else excuse?
There used to be a website called “Mansion or Crackhouse?”
It was a game that flashed up random photos of properties.
They were all in Vancouver, and were either homes that had recently sold for at least $1 million Canadian, or crackhouses that had been raided by the police.
I swear, it was virtually impossible to tell the difference.
Jealousy is a green-eyed monster.
DANG!
He also rode a bike everywhere, and you know how they hold up traffic.
Boo hoo.
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