# Just paid off my mortgage! **URL:** \ **Category:** Miscellaneous and Personal Stuff I Must Share\ **Created:** [December 20, 2018, 10:04pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449 "2018-12-20T22:04:19Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![StGermain](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/stgermain/32/2868_2.png) [@StGermain](https://boards.straightdope.com/u/StGermain)\ **Post date:** [December 20, 2018, 10:04pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/1 "2018-12-20T22:04:19Z")
Finally, after 15 years, my [farm](http://i79.photobucket.com/albums/j127/StG61/Southwest_zps7fa8cf14.jpg)is paid off. I just bought a new (used) car, but I’ll pay that off in a trice. I have a rental property, but the rent is approximately half of that mortgage (the other have is paying for the car). Soon, besides the rental property, I’ll be debt free. Now if my 401K hadn’t last 15% of it’s value this month, I’d be doing great. StG ---
**Author:** ![teela\_brown](https://avatars.discourse-cdn.com/v4/letter/t/d9b06d/32.png) [@teela\_brown](https://boards.straightdope.com/u/teela_brown)\ **Post date:** [December 20, 2018, 10:10pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/2 "2018-12-20T22:10:17Z")
What a cute house! Are mortgage burning parties still a thing? ---
**Author:** ![Tim\_R.Mortiss](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/tim_r.mortiss/32/142_2.png) [@Tim\_R.Mortiss](https://boards.straightdope.com/u/Tim_R.Mortiss)\ **Post date:** [December 20, 2018, 10:12pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/3 "2018-12-20T22:12:09Z")
Congratulations! ---
**Author:** ![FairyChatMom](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/fairychatmom/32/21906_2.png) [@FairyChatMom](https://boards.straightdope.com/u/FairyChatMom)\ **Post date:** [December 20, 2018, 10:14pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/4 "2018-12-20T22:14:01Z")
Congrats! We’ve got 12 more years on ours, and that’s after refinancing to knock a few years off. Our mortgage company seems to think we should refinance it for another 30 years and use the equity for FUN! Not gonna happen. ---
**Author:** ![Nawth\_Chucka](https://avatars.discourse-cdn.com/v4/letter/n/c57346/32.png) [@Nawth\_Chucka](https://boards.straightdope.com/u/Nawth_Chucka)\ **Post date:** [December 20, 2018, 10:24pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/5 "2018-12-20T22:24:39Z")
Congratulations! Your farm is lovely and it’s great to see hard work pay off. ---
**Author:** ![Beckdawrek](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/beckdawrek/32/3647_2.png) [@Beckdawrek](https://boards.straightdope.com/u/Beckdawrek)\ **Post date:** [December 20, 2018, 10:27pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/6 "2018-12-20T22:27:33Z")
Let’s party!!! ---
**Author:** ![lisiate](https://avatars.discourse-cdn.com/v4/letter/l/f05b48/32.png) [@lisiate](https://boards.straightdope.com/u/lisiate)\ **Post date:** [December 20, 2018, 10:32pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/7 "2018-12-20T22:32:51Z")
Nice work. We’ve got 7 years to go if nothing changes. ---
**Author:** ![Yllaria](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/yllaria/32/3452_2.png) [@Yllaria](https://boards.straightdope.com/u/Yllaria)\ **Post date:** [December 20, 2018, 10:35pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/8 "2018-12-20T22:35:58Z")
Sweet! Congratulations! That must feel good. ---
**Author:** ![Tim\_T-Bonham.net](https://avatars.discourse-cdn.com/v4/letter/t/46a35a/32.png) [@Tim\_T-Bonham.net](https://boards.straightdope.com/u/Tim_T-Bonham.net)\ **Post date:** [December 20, 2018, 11:25pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/9 "2018-12-20T23:25:19Z")
> [@StGermain](#): > > Now if my 401K hadn’t last 15% of it’s value this month, I’d be doing great. Unless you are just about to retire, with no other income, don’t worry about this. It’ll come back up again. Do not obsess about this, and start watching it obsessively – you’ll tend to start panic selling (at low points) and mess up the power of long-term investing. My suggestion is to only look at the valuation of your investments as many times annually as your age in decades. So if you’re in your 40’s, check your investment value 4 times a year. P.S. That house is nice, but why do you have it painted like a barn? Red paint is for barns. Houses are white with green or blue shutters. (But I think we had this discussion here before, and couldn’t convince you.) ---
**Author:** ![StGermain](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/stgermain/32/2868_2.png) [@StGermain](https://boards.straightdope.com/u/StGermain)\ **Post date:** [December 20, 2018, 11:35pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/10 "2018-12-20T23:35:31Z")
> [@Tim\_T-Bonham.net](#): > > Unless you are just about to retire, with no other income, don’t worry about this. It’ll come back up again. Do not obsess about this, and start watching it obsessively – you’ll tend to start panic selling (at low points) and mess up the power of long-term investing. > > My suggestion is to only look at the valuation of your investments as many times annually as your age in decades. So if you’re in your 40’s, check your investment value 4 times a year. > > P.S. That house is nice, but why do you have it painted like a barn? > Red paint is for barns. Houses are white with green or blue shutters. > ( **But I think we had this discussion here before, and couldn’t convince you.** ) About 6 years ago, when I was trying to decide what color to paint it you tried to convince me. But I’ll stick with my red and white. StG ---
**Author:** ![Beckdawrek](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/beckdawrek/32/3647_2.png) [@Beckdawrek](https://boards.straightdope.com/u/Beckdawrek)\ **Post date:** [December 20, 2018, 11:38pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/11 "2018-12-20T23:38:03Z")
Looks good to me. I really like the red. ---
**Author:** ![HMS\_Irruncible](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hms_irruncible/32/7394_2.png) [@HMS\_Irruncible](https://boards.straightdope.com/u/HMS_Irruncible)\ **Post date:** [December 20, 2018, 11:40pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/12 "2018-12-20T23:40:41Z")
Don’t know you but congrats on escaping the debt machine. The house is a charmer. ---
**Author:** ![elbows](https://avatars.discourse-cdn.com/v4/letter/e/b3f665/32.png) [@elbows](https://boards.straightdope.com/u/elbows)\ **Post date:** [December 21, 2018, 12:16am UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/13 "2018-12-21T00:16:57Z")
Congrats! Well done! Your farm is adorable and the red looks a perfect choice! ---
**Author:** ![CalMeacham](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/calmeacham/32/35_2.png) [@CalMeacham](https://boards.straightdope.com/u/CalMeacham)\ **Post date:** [December 21, 2018, 1:38am UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/14 "2018-12-21T01:38:17Z")
Congratulations! We just paid off our mortgage this year, too. But it’s just a house, not a whole farm! ---
**Author:** ![StGermain](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/stgermain/32/2868_2.png) [@StGermain](https://boards.straightdope.com/u/StGermain)\ **Post date:** [December 21, 2018, 1:55am UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/15 "2018-12-21T01:55:59Z")
> [@CalMeacham](#): > > Congratulations! We just paid off our mortgage this year, too. But it’s just a house, not a whole farm! You might say I bought the farm. StG ---
**Author:** ![Baker](https://avatars.discourse-cdn.com/v4/letter/b/bb73d2/32.png) [@Baker](https://boards.straightdope.com/u/Baker)\ **Post date:** [December 21, 2018, 2:52am UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/16 "2018-12-21T02:52:11Z")
When I paid off the mortgage on my house I framed the hard copy with a red stamp PAID IN FULL. ---
**Author:** ![Sunny\_Daze](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sunny_daze/32/438_2.png) [@Sunny\_Daze](https://boards.straightdope.com/u/Sunny_Daze)\ **Post date:** [December 21, 2018, 4:02am UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/17 "2018-12-21T04:02:17Z")
Congratulations. 😃 ---
**Author:** ![Chefguy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chefguy/32/138_2.png) [@Chefguy](https://boards.straightdope.com/u/Chefguy)\ **Post date:** [December 21, 2018, 4:24am UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/18 "2018-12-21T04:24:54Z")
Feels good to be out of debt, dunnit? ---
**Author:** ![StGermain](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/stgermain/32/2868_2.png) [@StGermain](https://boards.straightdope.com/u/StGermain)\ **Post date:** [December 21, 2018, 4:40am UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/19 "2018-12-21T04:40:13Z")
**Chefguy** - I’ll let you know when it happens. Although the rental property hardly counts as debt, because it’s generating a good profit. My goal is to put 1 in retirement or savings for every dollar in pay I take home. Right now I'm at about .60 for every dollar. StG ---
**Author:** ![wguy123](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/wguy123/32/3161_2.png) [@wguy123](https://boards.straightdope.com/u/wguy123)\ **Post date:** [December 21, 2018, 3:21pm UTC](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449/20 "2018-12-21T15:21:42Z")
Congrats! It feels great to pay off your house. We paid fairly aggressively and paid ours off in 13 years. We’ve now been debt free for several years and have so much cash on hand, we can almost buy a rental house outright. We should’ve bought one two years ago before the prices skyrocketed again but we weren’t ready. Now, they are starting to fall so we are hoping they fall more when they all come on the market in the spring. [Next page](https://boards.straightdope.com/t/just-paid-off-my-mortgage/826449.md?page=2)