Paid off the mortgage this summer

iVillage Member
Registered: 03-31-2003
Paid off the mortgage this summer
2
Wed, 09-22-2004 - 7:54am
This *should* be a bigger deal than it is, but it's hard to feel celebratory because most of the $ we used to do it came from DH's mom's estate (she passed away unexpectedly last Oct).

Still, I'm sure she would be so pleased that we did not pi$$ her lifetime savings away. We needed to take a very small personal bank loan at a very low interest rate to completely pay the mortgage company off...so the roof over our head will cost $250/mo for just the next couple of years. Can't beat that with a stick. No more stupid PMI to the mortgage company either, hooray! The townhouses in our neighborhood are selling for 2x what we paid for ours 6 years ago, so if we sell, we would be able to pay off the tiny bank loan and still pocket about 160k. More than enough to buy our dream house in the country.

That's the good news; I will be back on the regular board soon to share how I have 'spent' (in every sense of the word) my summer off.

BK








Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Wed, 09-22-2004 - 10:57am
sorry to hear about your MIL passing.

however, congrats on using the money wisely and paying off the mortgage.

MYM

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Thu, 09-23-2004 - 8:52am

Wow.

All my best,
Danni