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Mortgage Burning

donk

Cyburbian
Messages
6,970
Points
30
All right everyone, I know that this is symbolically a "big deal" but I am unsure how to celebrate.

Today is the last day that the "man" (bank) has any say or dibs on my house. Tomorrow I own the "castle" outright. I wish it would sell, but that is another story.

Anyone else here ever had a mortgage burning? How should I celebrate this "accomplishment"?

Does anyone want a house in the middle of nowhere?

Special Note: I know that most of you pay more in a year in either rent or mortage than I paid for my house, but everyone seems impressed that a mortgage actually got paid off in one term.
 

nerudite

Cyburbian
Messages
6,544
Points
30
I wish I knew how to celebrate that! It is only a distant dream for me...

Congrats though! I say celebrate in any way that makes you feel happy!
 

Tranplanner

maudit anglais
Messages
7,917
Points
36
donk said:
Anyone else here ever had a mortgage burning? How should I celebrate this "accomplishment"?
Lucky b*****d!

I say BBQ at Tranplanner's house - maybe my mortgage will get the hint and pay itself off or something.

You get to bring all the food/drink ;-)
 

JNL

Cyburbian
Messages
2,449
Points
25
donk said:
Anyone else here ever had a mortgage burning? How should I celebrate this "accomplishment"?
Buy yourself a pressie! :)

I remember paying off my student loan. Don't think I did anything in particular to celebrate, just felt happy to be free of it. But that was not as big a deal as being freehold on a house! Enjoy :)
 

michaelskis

Cyburbian
Messages
20,174
Points
51
Well I still owe almost $28,000 for college, and $7,000 for my car... other than that. I have no debt. (but then agian, I don't own a hose yet. Right now I am just happy to be in my apartment.

If I were you, I would have a party in your back yard! I would put it in a tin bucket, with gas soaked wood scraps. The light it up!
 

Chet

Cyburbian Emeritus
Messages
10,623
Points
34
A novel idea....

Dont burn it. Eat it. I suggest a nice banana mortgage smootie:

4 cups skim milk
2 bananas, peeled
1 mortgage, shredded

Place indgredients in blender on "fappe" until fully liquified.

Drink and enjoy, knowing yoiu are likely the first not only to eat his mortgage, but to deficate it too. :-c
 

donk

Cyburbian
Messages
6,970
Points
30
kms said:
Don't burn it near anything flammable, like the house. :-D
Actually, burning it in the house and having the house catch fire would be the best thing that could happen to me. It is worth more as a pile of ashes than as a house. (Replacement construction value) Don't tell the insurance company I said this. ;)

Insurance tripled when I moved out and had to declare it a "vacant property".

I will probably save the festivities for the lae fest, the more the merrier.
 

kms

Cyburbian
Messages
6,424
Points
40
Having your house burn as a result of the mortgage burning would make an amusing news story. Someone here would certainly post the link.
 

Habanero

Cyburbian
Messages
3,241
Points
27
You can celebrate by paying mine off too! I'm about to get sick.. in about 12 hours I will be signing on my first mortgage. I couldn't imagine paying it off in one term, but damn, if I did I think I'd start my doing a jig with a mug of beer in each hand and then proceed to drink myself silly in said paid off house.
 

boiker

Cyburbian
Messages
3,889
Points
26
my new mortagage, first payment due today (or within the lovely 15 day grace period), is burning me. Congrats on the payoff donk.
 

Plannerbabs

Cyburbian
Messages
1,037
Points
23
Wow, congrats. We're five years in on ours, can't imagine paying it off so quickly. That, and the fact that there's no landlord to call when the stove goes on the fritz for the 50th time, make me wish we were still renting.
If it doesn't sell, you could always do what realtors do here and stick a big "For Sale--Commercial Property" sign in the front yard. Strange, we have much more commercial property than our GIS would indicate.... B-)
 

Gedunker

Moderating
Staff member
Moderator
Messages
11,487
Points
41
Definitely calls for a loud party. Wake the neighbors!

We recently refinanced to 4.5%/15 yr fixed from a 6-7/8%/30 yr fixed. My costs went up $80.00 month, but I'm saving $60,000 in interest. I'll pay it off just in time for the college tuition bills to come due 8-!
 

SGB

Cyburbian
Messages
3,388
Points
26
local codes

Better make sure if your municipality prohibits outdoor burning, first.

Remember - no celebration is worth the local court appearance, fines and embarassment of having a conviction listed in the local newspaper.

;)
 

Habanero

Cyburbian
Messages
3,241
Points
27
SGB said:
Better make sure if your municipality prohibits outdoor burning, first.

Remember - no celebration is worth the local court appearance, fines and embarassment of having a conviction listed in the local newspaper.

;)
Uh, a good party is worth it! :p
 

GeogPlanner

Cyburbian
Messages
1,433
Points
25
Habanero said:
Uh, a good party is worth it! :p

ditto...it's not a party until the local fuzz shows up...and it's not a good party until the troopers pull up behind them!
 

JNA

Cyburbian Plus
Messages
25,800
Points
61
Better then just the police is to have the Fire Dept and EMS (at least 1st alarm assignment) show up. (serious)
then when they see whats going on; give up and join the party. :-0 ;-) :-\ :p
 

Mastiff

Gunfighter
Messages
7,181
Points
30
Mortgage companies are slimy, too.

I was paying $75 a month for mortgage insurance... and paying a 6.35% rate, just to get in my new place here.

But, since I have a credit union, I got a "home equity loan", with NO appraisal, and a total closing cost of $300, and refinanced at 4.99%

Now, I'll pay off in 15 years instead of 30 years. And the total monthly payment went up a grand total of $51 dollars. Yeah, I can live with that... Now I can actually own the place when I retire.
 
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