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It's Official-Our Mortgage Is Paid Off!!!


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2020 Sep 29, 8:11pm   611 views  21 comments

by ohomen171   ➕follow (2)   💰tip   ignore  

#mortgagepayoff From: "noreply@mortgagefamily.com" <noreply@mortgagefamily.com >
Date: September 29, 2020 at 12:14:05 PM PDT
To: "etor38@hotmail.com" <etor38@hotmail.com >
Subject: Congratulations! The account is paid in full


Dear Customer(s),




Why We Are
Sending This Letter
Congratulations! Your account is paid in full. While this is a significant milestone, there are still a few important actions that need to happen over the next few weeks. If there is a positive balance in the escrow account, or if the payoff resulted in an overpayment, we will send a refund check to the mailing address on file. Though we strive to complete refunds quickly, please allow 20 business days to receive the refund.

Comments 1 - 21 of 21        Search these comments

1   ForcedTQ   2020 Sep 29, 8:21pm  

Congrats Ohomen! That has to be an awesome feeling! My wife and I are eagerly awaiting the payoff of our home note, even though it’s years in the future.
2   just_passing_through   2020 Sep 29, 8:23pm  

Too bad rioters will soon come over the hill and burn it to the ground! If not, Pacifica is full of salty grimy people anyway and that's before the homeless situation got out of control.
3   B.A.C.A.H.   2020 Sep 29, 8:27pm  

Congratulations!

Too bad about the Property Tax bill.
4   FortwayeAsFuckJoeBiden   2020 Sep 29, 8:48pm  

Congrats. Now shoot the assessor to lower property tax bill
5   🎂 Tenpoundbass   2020 Sep 29, 9:06pm  

I tried to pay off our Mortgage in July, i called the bank to tell them to take my Estrow and pay off my loan, and I'll pay the difference. The guy tried to give me line of crap about how I would end up still owing them money.
I Hung up on him and called a local branch manager, and she was able to explain it could be a few dollars, 60 or so, or as much as a few hundred.
The guy at the corporate mortgage number to call about pay off inquiry made it sound like I would still owe thousands.
And with the added BS involved And the crazy hoops it was going to require to accomplish doing that, I just told my wife to send in half, then that would leave us with about 2 payments.

But the delay has ran us to September when our tax and insurance comes due. So our Escrow that i was trying to get back, has now been spent on Insurance I planned on canceling.

Hopefully I'll still have a decent Escrow left.
6   Dholliday126   2020 Sep 29, 9:16pm  

Ah man I'm still 20 years off....good job my man.
7   BayArea   2020 Sep 29, 10:53pm  

I used to say congrats

Now I’m not sure if payoff is the right way to go.
8   Ceffer   2020 Sep 29, 11:04pm  

Time to take out a second and buy a Hummer!
9   Waitup   2020 Sep 30, 1:45am  

Awesome. Great feeling. I paid mine off 3 years ago. I wish the annual tax would go away too.
10   🎂 Tenpoundbass   2020 Sep 30, 6:41am  

BayArea says
Now I’m not sure if payoff is the right way to go.


Giving yourself a rent payment every month, isn't the way to go?
11   Shaman   2020 Sep 30, 6:46am  

Fortwaynemobile says
Congrats. Now shoot the assessor to lower property tax bill


If they paid off their mortgage that fast, i think they can afford to pay their fucking taxes to fund all the Lefty policies they love so much.
12   🎂 Tenpoundbass   2020 Sep 30, 6:52am  

Dholliday126 says
Ah man I'm still 20 years off....good job my man.


I was 25 years off, then decided to start doubling up my mortgage payment and slamming it down, 5 years ago.
Now we'll be paid off 20 years early.

IT doesn't take much and it doesn't take long. Our Mortgage is low enough we could double it, and end paying what many people are paying on their mortgage.
It was the deciding factor, that made me determined to do it. With the constant Insurance raising rates, I figured if $4K for insurance was a lot now, then I wasn't going to be happy when insurance got to be $10K a year. I was paying about $1200 mortgage payment when we first took out the mortgage, but when it got to almost $1500 I decided to send in $3K a month. As that's a typical Mortgage or Rent these days. .

Best thing I ever did, I can't think of anything that would make paying off your mortgage a bad idea, the exact opposite. Unless you're rich, and you are going to end up flipping the house anyway, but for most modest home owners, that has the house for shelter, and it will probably be in the family and passed down. Pay the fucker off pronto.

Besides I always thought I would like to work in Computer programming until I die. I'm getting fed up with Millennials, Butch Dyke angry managers, and the Corporate landscape in general It's a constant struggle just to show up at work and not tell everyone to fuck off as I make a grand exit.

I'm going to want to take advantage of the opportunities that are going to happen when we bounce back 100% from Covid and countless opportunities are going to be available with all of the voids, so many closed companies left. Not having any mortgage debt will go along way in realizing that dream.
13   FortwayeAsFuckJoeBiden   2020 Sep 30, 7:57am  

Now you gonna get a whole lot of materials for helocs and RMs. Don’t do it, it’s bad for you.
14   🎂 Tenpoundbass   2020 Sep 30, 8:10am  

Fortwaynemobile says
Now you gonna get a whole lot of materials for helocs and RMs. Don’t do it, it’s bad for you.


I paid it off so I'll never have to pay a bank again to keep it.

I figure my income now is as good as money in the bank, and if I save a nest egg as aggressive as we paid down our loan.
5 years to save up 150K vs borrowing 150K and being on the hook to the bank for years. I'm going to go with the save for 5 years option.
15   Patrick   2020 Sep 30, 8:33am  

I've never had any debt, except for some student loans my wife paid off back when we were dating. That's how I knew she was the one.

Now far ahead of where I would have been had I bought a house, but I admit that's partly luck, a couple of good stock picks among mostly average ones.
16   rocketjoe79   2020 Sep 30, 11:03am  

I'll never have my house paid off. We'll sell it and cash out first.

I walked away from my last underwater mortgage. Still got a loan right away. Credit ratings really don't mean shit.
17   socal2   2020 Sep 30, 12:41pm  

We just refinanced and got a 30 year for 2.62% down from 3.75%.

We were already 9 years into our 30 so we will pay extra to keep our 20 year plan - which shaves a year and $90,000 over the life of the loan. Even paying the extra, we are still saving over $300 a month and have the luxury and security of paying as low at $2,000/month ($750/month savings) if I ever got into a financial pinch and needed to pay the minimum.

I was paying much more than that to rent a 2 bedroom shit-box 10 years ago!
18   FortwayeAsFuckJoeBiden   2020 Sep 30, 3:25pm  

Tenpoundbass says
Fortwaynemobile says
Now you gonna get a whole lot of materials for helocs and RMs. Don’t do it, it’s bad for you.


I paid it off so I'll never have to pay a bank again to keep it.

I figure my income now is as good as money in the bank, and if I save a nest egg as aggressive as we paid down our loan.
5 years to save up 150K vs borrowing 150K and being on the hook to the bank for years. I'm going to go with the save for 5 years option.


You did better than my liberal minded neighbor who took heloc out at 3% to have it as savings at the bank earning 0.1%. Some peoples financial decisions are mind boggling.
19   Patrick   2020 Sep 30, 5:27pm  

socal2 says
We just refinanced and got a 30 year for 2.62%


The nice implication is that inflation will be low for the next 30 years. If it's not, your lender screwed himself.

Or maybe the lender doesn't care since the Fed will print to bail him out anyway.
20   ignoreme   2020 Sep 30, 7:24pm  

rocketjoe79 says
I'll never have my house paid off. We'll sell it and cash out first.


I want to have it paid off before retirement. Cutting a big expense like that will reduce the amount I need to pull from 401k and will keep my income under certain limits for tax goodness.
21   crazydesi   2020 Sep 30, 7:32pm  

>>We just refinanced and got a 30 year for 2.62%
Can you share the lender details

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