To everyone here at GA. Thanks for the encouragement.
🏡 Local WIN 🏘️
For the past couple of years I have been working on paying off my mortgage and being debt free. My wife and I both wanted to do this. It was not always easy but we keep plugging away. Today was my last mortgage payment. We now own our house free and clear. We have no other debt.
For anyone reading this that is still on the path to being debt free. Don't give up. Is it hard at times but no matter what anybody tells you it is worth it.
No one knows what the future holds (Until the real President is back in office). We are very concerned that inflation is going to get really bad. Hopefully not having debt will make it easier to deal with rising prices.
Anyway once again. Thanks everybody.
Im split on paying off my mortgage. I’ve got a low fixed rate 30 and I’m 6 years in, I figure the bank may collapse before I finish paying it off. Congrats though!
I was concerned about that myself. If you have a mortgage and a savings/checking account at a bank and the bank fails you lose your savings (assuming no bailout) but are still required to pay your mortgage.
Pay your mortgage to who? They’ll be gone. I don’t have checking/savings with the same bank as my mortgage either soooo, if they fail I think I’m off the hook.
The assets would be sold to someone else. A mortgage is an asset to the bank.
Sold to another bank… that fails before my mortgage is up in 24 years? I think I can wait this out longer than these fraudulent banks can
If you’re locked in for 30 years your best strategy, in my opinion, is just to pay your minimum required payment and just watch the dollar devalue itself. If you have extra money invest in real assets that will hold value as the currency goes down.