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Post in 'The Inglenook' started by DAKSY, Nov 29, 2012.

  1. DAKSY

    DAKSY Patriot Guard Rider Staff Member

    Joined:
    Dec 2, 2008
    Messages:
    5,379
    Loc:
    Averill Park, NY, on Burden Lake II...
    I just wrote the FINAL (read: PAYOFF) check to the Bank of America for the mortgage on our house. Doesn't make us any richer, but at least we can afford to pay our $8K yearly tax bill (for a couple of years, anyway). Just thought I'd share...:)

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  2. WhitePine

    WhitePine Feeling the Heat

    Joined:
    Sep 18, 2010
    Messages:
    497
    $8K? :eek:

    Ouch. Congrats on the payoff, though. We did the same thing. No debts feels very good.
  3. firefighterjake

    firefighterjake Minister of Fire

    Joined:
    Jul 22, 2008
    Messages:
    15,628
    Loc:
    Unity/Bangor, Maine
    I think I've got another 2 years.
  4. Jack Straw

    Jack Straw Minister of Fire

    Joined:
    Dec 22, 2008
    Messages:
    2,161
    Loc:
    Schoharie County, N Y
    Way to go Daksy that and super moderator, you are having a hell of year! I also have 2 years to go. My taxes are only $4500
  5. webbie

    webbie Seasoned Moderator Staff Member

    Joined:
    Nov 17, 2005
    Messages:
    12,099
    Loc:
    Western Mass.
    Congrats! Paid off the house and then all the kids college....now I don't know what to do with my money! All of a sudden more is coming in than going out!
  6. DAKSY

    DAKSY Patriot Guard Rider Staff Member

    Joined:
    Dec 2, 2008
    Messages:
    5,379
    Loc:
    Averill Park, NY, on Burden Lake II...
    Geez. I can only HOPE to live long enough for that to happen...
  7. webbie

    webbie Seasoned Moderator Staff Member

    Joined:
    Nov 17, 2005
    Messages:
    12,099
    Loc:
    Western Mass.
    Yeah, the problem is that once the money starts flowing, your testostorone STOPS flowing......so hang gliding and mountain climbing is out of the picture. I can spend some money sailing...
    ;)
    Curly likes this.
  8. velvetfoot

    velvetfoot Minister of Fire

    Joined:
    Dec 5, 2005
    Messages:
    6,947
    Loc:
    Sand Lake, NY
    It's not like we get a lot for our taxes, right?
  9. Jack Straw

    Jack Straw Minister of Fire

    Joined:
    Dec 22, 2008
    Messages:
    2,161
    Loc:
    Schoharie County, N Y
    It looks like a big nooooo for the Powerball for any of us around here
  10. DAKSY

    DAKSY Patriot Guard Rider Staff Member

    Joined:
    Dec 2, 2008
    Messages:
    5,379
    Loc:
    Averill Park, NY, on Burden Lake II...
    There's STILL my Ultra. With the idiots in their cages on the same roads, I get plenty of Adrenaline bursts. That kinda works like "Replacement Testosterone Therapy"...
    Curly and PapaDave like this.
  11. DAKSY

    DAKSY Patriot Guard Rider Staff Member

    Joined:
    Dec 2, 2008
    Messages:
    5,379
    Loc:
    Averill Park, NY, on Burden Lake II...
    You would know, neighbor. Plowed roads & a street light where my street intersects Burden Lake Rd.
    No trash pickup. Sewer is taxed & the grinder pump is powered by MY electrical panel. I guess I could go up to the High School & see if I could jog around the track without keeling over...
  12. jharkin

    jharkin Minister of Fire

    Joined:
    Oct 21, 2009
    Messages:
    3,329
    Loc:
    Holliston, MA USA
    Wow congrats daks! We just did a refi here, only 30 years to go :(
  13. DAKSY

    DAKSY Patriot Guard Rider Staff Member

    Joined:
    Dec 2, 2008
    Messages:
    5,379
    Loc:
    Averill Park, NY, on Burden Lake II...
    Yow. 30 years. Well, I bought the house 27 years ago & it took THREE refinances to get the mortgage down to an acceptable rate. 1985 the Interest Rate was 11.5% for a 30-year loan!!! I paid two years at about $750 a month & the principle went down $200. Refied once at 9.3% in 93 (20 years) & then another at 4.75% in 99 (15 years)...All done.
  14. corey21

    corey21 Minister of Fire

    Joined:
    Oct 28, 2010
    Messages:
    2,241
    Loc:
    Soutwest VA
    Congrats.
  15. jharkin

    jharkin Minister of Fire

    Joined:
    Oct 21, 2009
    Messages:
    3,329
    Loc:
    Holliston, MA USA
    Don't feel bad for me we only bought the house 3 years ago. The rates for a 15 year were not low enough to make that doable, but going to a new 30 cut our rate from 4.75 to 3.5% AND let us drop the PMI and escrows. All told its saving us more per month than Ive gotten in raises the last few years :)

    Figure that once the kids are in school and my wife goes back to work we will start paying extra into the monthly and aim to shavea few years off it.
  16. firebroad

    firebroad Minister of Fire

    Joined:
    Nov 18, 2011
    Messages:
    1,526
    Loc:
    Carroll County, MD
    Yippie-I-Ay!! Wunderful, Daksy. Now, don't be going out and get some mid-life crisis vehicle just cuz you don't have a mortgage.;)
  17. PapaDave

    PapaDave Minister of Fire

    Joined:
    Feb 23, 2008
    Messages:
    5,740
    Loc:
    Northern MI - in the mitten
    Great news Daksy.
    Now, all that's needed is to move to get rid of the tax bill.;)
    firebroad likes this.
  18. BrotherBart

    BrotherBart Hearth.com LLC Mid-Atlantic Division Staff Member

    Joined:
    Nov 18, 2005
    Messages:
    29,034
    Loc:
    Northern Virginia
    With any luck this barn will be paid off in January. Congrats Daks.
  19. yooperdave

    yooperdave Minister of Fire

    Joined:
    Oct 26, 2010
    Messages:
    1,127
    Loc:
    Michigan's U.P.
    Great! I have about 4-5 years (max) left on the cottage. I always try to makae the monthly and add a little extra to be applied to the principal at that point. Makes quite a difference that way. I hear you about the jump start for the heart from the motorists while on the bike. Around here, it seems that deer are more of a problem, though. Although I've had my share of bad driver encounters also. Ride safe.
  20. pen

    pen There are some who call me...mod. Staff Member

    Joined:
    Aug 2, 2007
    Messages:
    7,108
    Loc:
    N.E. Penna
    Congrats dak!

    pen
  21. Adios Pantalones

    Adios Pantalones Minister of Fire

    Joined:
    May 20, 2008
    Messages:
    6,443
    Loc:
    S.NH- Mass's smoking section
    So cool! We're trying to knock ours down ASAP.
  22. eclecticcottage

    eclecticcottage Minister of Fire

    Joined:
    Dec 7, 2011
    Messages:
    1,716
    Loc:
    WNY
    Congrats! I can't wait to do that.

    We're close to paying off the Old House, but a few years out on the Cottage (took a home equity on the Old House to buy it along with savings). Once we get the Cottage fixed up we're going to go through the Old House and fix all the stuff we never finished while living there and rent it out. THEN we should be able to pay off that mortgage and the home equity in 2-3 years since we bought that place cheap and we'll just apply most of the rent and the $$ we save from not paying utility bills right to the principle on the loans while continuing to pay the regular payments. We paid into the principle on the Old House many times over the past 15 years since we bought it, so we'll pay off well before the 30 years on that loan are up.

    We're lucky with taxes, both places are small (about 850 and 700 sq feet) w/o central heat so we're not assessed too high-I think the Old House runs about $1,900 a year and the Cottage about $2,200.
  23. Gary_602z

    Gary_602z Minister of Fire

    Joined:
    Oct 30, 2009
    Messages:
    930
    Loc:
    Lake Odessa,MI
    House has been paid off for about 4 years, my ratted and rusted out truck for over 6 years. The Dragon Lady has a small car payment and a little bit yet on her kitchen remodel. Man am I glad that I don't have any payments at my age (56). Kids are gone wife has a good job with Bennies (35 years at same place),and my hours are down to 60 hours a week! Golden years my ass!

    Gary
  24. Flatbedford

    Flatbedford Minister of Fire

    Joined:
    Mar 17, 2009
    Messages:
    5,235
    Loc:
    Croton-on-Hudson, suburbs of NYC
    Congrats. We'll also be starting a new 30 year refi soon. We're 9 years into the first 30, but the lower rate will be worth it. We can pay off in the same time and spend less money.
    DAKSY likes this.
  25. woodgeek

    woodgeek Minister of Fire

    Joined:
    Jan 27, 2008
    Messages:
    2,851
    Loc:
    SE PA
    DAKSY, you give me hope.

    Bought in 2005, second refi was last year into a 15 yr product....14 years to go. Getting (slightly) itchy to do another 15 yr refi....current quotes are 2.375% But they could go lower yet....

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