TheSamba.com :: View topic

Thu Jan 31, 2008 7:54 pm

I was wondering if any of you guys owns their house? Please stay on topic.

Thu Jan 31, 2008 8:00 pm

with or without a mortgage?

Thu Jan 31, 2008 8:00 pm

Major Woody wrote: I was wondering if any of you guys owns their house? Please stay on topic. My name is on the deed, but the mortgage company owns that. :cry:

Thu Jan 31, 2008 8:01 pm

I do..... errr Well I will, I have 6 years left to pay then it is mine, all mine..

Clonebug

Thu Jan 31, 2008 8:04 pm

Yes... paid off a 15 year mortgage in 11 years .

Thu Jan 31, 2008 8:12 pm

Yes. Coming up on two years of way too long a mortgage that I've had my little hovel they kindly let me think is my own.

Who knows when I'll be forced to default, but for now....

neal

Thu Jan 31, 2008 8:13 pm

Glenn wrote: Yes... paid off a 15 year mortgage in 11 years .

Damn. You should be proud of yourself. That takes discipline.

Thu Jan 31, 2008 8:16 pm

wife and I just bought 1.5 acres in beautiful Holmes County, Ohio! will start building next year. The owner of the contracting firm I work for is cutting me a huge deal, which I will forever be in his debt for (no bank involved...hey, its amish country...what can I say). I can't wait to start!

Thu Jan 31, 2008 8:21 pm

24 years and it is all mine.

I don't plan on paying it off any sooner, at the interest rate it is financed at it is better to put my extra in the "market" and keep the tax deduction.

Thu Jan 31, 2008 8:23 pm

I own 3/4 of it & the bank owns the other 1/4.
Guess I'm good until California falls into the ocean.

Thu Jan 31, 2008 8:24 pm

7 more years and its all mine. all mine.

Thu Jan 31, 2008 8:25 pm

Rowroy wrote: Glenn wrote: Yes... paid off a 15 year mortgage in 11 years .

Damn. You should be proud of yourself. That takes discipline.
I drive a 34 year old car.

Seriously... I knew that i'd get no help from anyone to pay for college for my two kids. Too poor to just write a check and too rich to qualify for grants. 8 more payments and my daughter is done, but my son starts this fall, so I still have 4 years to go.

Thu Jan 31, 2008 8:25 pm

yes..happy to have bought my house last year at age 24..forget renting...probably the best decision I have ever made....

Thu Jan 31, 2008 8:26 pm

pdaoust wrote: 24 years and it is all mine.

I don't plan on paying it off any sooner, at the interest rate it is financed at it is better to put my extra in the "market" and keep the tax deduction.

Speaking of interest rates, we own (actually the bank owns) several pieces of unimproved lake-front property and are in the process of refinancing ALL of it due to the dropping interest rate.

We will be able to save $350/month (total) in interest alone.

Thu Jan 31, 2008 8:27 pm

I own approximately 75% of mine.

Thu Jan 31, 2008 8:27 pm

29 more years on a 30 year fixed. No sub prime for me!

Thu Jan 31, 2008 8:33 pm

7 more payments @ 500/mo.
But, BFD.
It's only worth about $150,000 in Smallville, Iowa.
:cry:

Thu Jan 31, 2008 8:35 pm

2 weeks ago I just finished paying off a 40 acre parcel I have just outside of Boise, ID. Current market value is $650K+. Once we sell it, we pay off our house and start traveling.

Thu Jan 31, 2008 8:39 pm

I own these two pieces of crap.

Thu Jan 31, 2008 8:49 pm

vw7266 wrote: yes..happy to have bought my house last year at age 24..forget renting...probably the best decision I have ever made....

a lot of people share that theory, but with today's rates, its better to rent (if rent is reasonable) for as long as possible and save money for a large down payment. the money you save in interest is unbelievable. if I borrowed 150,000 today, I would pay nearly 380,000 over the course of the mortgage! :shock: