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Thread: It's Mine!

  1. #1

    Default It's Mine!

    Personal finance milestone.

    Just sent in the final mortgage payment. Now I am completely debt free. Paid it off early- 30 year mortgage done in less than 15. I could have done a 15 year but payments would have been tighter on the budget which would have been a problem if any financial crisis arose (which it did when my company went on strike for five months- I was able to keep up with my payments during the whole time) and pay extra when I was able to. My costs of living are now incredibly cheap. Including property taxes and homeowners fees (condo) I can now live on less than $1000 a month if I have to. Prices of similar units are still about 50% higher than what I paid too. This is part of my retirement plan- keep the expenses as low as possible and you can live comfortably on less money. Same effect as having large amounts of savings (wouldn't call my savings huge but I have adequate money there too for now and can put more money there now too).
    I work for the Jewish National Democratic Council. They pay me $100,000 a year plus $100 a post. That is why almost all of my posts are on Israel and how great a country it is. Check my post history to verify this. My other goal is to shut down not just this site but the entire internet. I am more powerful than the NSA. I am a former British citizen currently working for MOSSAD. Or maybe it is the KGB/ FSB. I voted for Obama at least seventeen times.



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  3. #2

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    Congratulations! (me: envious)
    tu ne cede malis, sed contra audentior ito · fiat justitia, ruat caelum · sic semper tyrannis
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    Frédéric Bastiat (1801-1850)
    • "When law and morality are in contradiction to each other, the citizen finds himself in the cruel alternative of either losing his moral sense, or of losing his respect for the law."
      - The Law (p. 54)
    • "Government is that great fiction, through which everybody endeavors to live at the expense of everybody else."
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  4. #3

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    Congrats! Plant a garden and you'll bring that 1k figure down a bit, I'd imagine. Save some money up for a really efficient fireplace (if you don't have one) and you'll be even better off.
    Those who want liberty must organize as effectively as those who want tyranny. -- Iyad el Baghdadi

  5. #4

    Default

    I am lucky enough to live in a moderate climate where I don't have to worry much about heating or cooling- a mile from the California coast. There is radiant heat in the ceiling which I have never used (never officiallly hits 32 degrees even in winter- "cold" weather means wearing long pants instead of shorts- not at all like Colorado winters where I grew up where yes I did walk two miles to school in two feet of snow and below zero temperatures) and in summer fans are enough to keep cool on most days. My utility bill runs about $35 a month year round. Work and the grocery store are easy walking distance so I don't need or have a car (no gas, insurance payments).
    Last edited by Zippyjuan; 11-15-2012 at 10:14 PM.
    I work for the Jewish National Democratic Council. They pay me $100,000 a year plus $100 a post. That is why almost all of my posts are on Israel and how great a country it is. Check my post history to verify this. My other goal is to shut down not just this site but the entire internet. I am more powerful than the NSA. I am a former British citizen currently working for MOSSAD. Or maybe it is the KGB/ FSB. I voted for Obama at least seventeen times.

  6. #5

    Default

    Congrats Zippyjuan. Now as long as California doesn't tumble into the sea or the government turn all out totalitarian and confiscate it you're lookin' good.

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  7. #6
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    Default

    Congrats Zippy. Just make sure you pay your dreaded property tax--or they'll show you how fast the property is theirs!
    *Legal Disclaimer: While I am a keen researcher and want nothing more than to help people, I am not a doctor and more importantly, I am not your doctor. Any article I post that contains general information about medical conditions, treatments and remedies is to bring awareness. The information is not advice, and should not be treated as such. You should never delay seeking medical advice, or discontinue any medical treatment because of information in an article I have posted. The only advice I would give is to continue to research further and use discernment with all advice.

  8. #7

    Default

    Very cool - congrats, I paid it off last year... before you say "its mine" remember that failure to pay property tax can land you in jail and homeless... so technically its the states, they just will rent it to you for the price of the property tax....

  9. #8

    Default

    Quote Originally Posted by Origanalist View Post
    Congrats Zippyjuan. Now as long as California doesn't tumble into the sea or the government turn all out totalitarian and confiscate it you're lookin' good.

    Was that sarcasm? lol
    For the Republic! For the Cause!
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    http://www.youtube.com/watch?v=YaxIPPMR3fI#t=186

  10. #9

    Default

    Congrats!
    But if you are paying property taxes, its not yours. Its the Kings property.
    Stop paying him his tax/rent, and he'll send his shire reeve to remove you.
    Congrats!
    Samuel 8
    10 Samuel told all the words of the Lord to the people who were asking him for a king.11 He said, “This is what the king who will reign over you will claim as his rights: He will take your sons and make them serve with his chariots and horses, and they will run in front of his chariots.12 Some he will assign to be commanders of thousands and commanders of fifties, and others to plow his ground and reap his harvest, and still others to make weapons of war and equipment for his chariots.13 He will take your daughters to be perfumers and cooks and bakers.14 He will take the best of your fields and vineyards and olive groves and give them to his attendants.15 He will take a tenth of your grain and of your vintage and give it to his officials and attendants.16 Your male and female servants and the best of your cattle[c] and donkeys he will take for his own use.17 He will take a tenth of your flocks, and you yourselves will become his slaves.18 When that day comes, you will cry out for relief from the king you have chosen, but the Lord will not answer you in that day.”

  11. #10

    Default

    Congrats man!

    Now sell it to a sucker and move down here to Texas. There's plenty of room.

  12. #11

    Default

    Well done!

    I am on a 15 year and more than half of each payment goes toward principle. I love it. Can't wait to be paid off.
    U.S. Air Force Veteran
    @cleaner4d4

    I am a libertarian. I am advocating everyone enjoy maximum freedom on both personal and economic issues as long as they do not bring violence unto others.

  13. #12

    Default

    Hurrah! You've mentioned you were doing that several times over the years, and it's awesome you were able to stay focused on your goal. I know the world is full of shiny things....

    So congratulations!
    .
    "Every great new thought was opposed. Every great new invention was denounced. The first motor was considered foolish. The airplane was considered impossible. The power loom was considered vicious. Anesthesia was considered sinful. But the men of unborrowed vision went ahead. They fought, they suffered and they paid. But they won."
    - Ayn Rand, The Fountainhead
    ..
    .

    I blog at Red State Eclectic, and I tweet here,.

  14. #13

    Default

    Jealous, totally. Yay, zippy!
    Quote Originally Posted by Ron Paul
    The government is incapable of doing what it's supposed to do. A job like the provision of security is something best left to private institutions.
    My music/art page is here"government is the enemy of liberty"-RP
    1 John 5:19: We know that we are children of God, and that the whole world is under the control of Satan.
    Quote Originally Posted by oyarde
    Govt hates you . You are only someone to toil and serve them as they take what you earn and squander it on shit you would not.
    Quote Originally Posted by Anti Federalist View Post
    This whole board is a thoughtcrime in progress.

  15. #14

    Default

    Still paying taxes on it? Nope, it's not yours.

    Congrats on no longer paying the bank though.

  16. #15

    Default

    Good work, man.
    It doesn't end with this election cycle. Commit to long term change, and you won't see all the GOP state convention shenanigans as the end of the Ron Paul Revolution--but as the end of the neocon control of the GOP, (and the beginning of the Ron Paul Revolution). Hang in there for another year or so, and you'll start to see some absolutely amazing results for all of our efforts. ~Ninja Homer

  17. #16

  18. #17

    Default

    Quote Originally Posted by Zippyjuan View Post
    Personal finance milestone.
    (which it did when my company went on strike for five months- I was able to keep up with my payments during the whole time)
    Did your company go on strike or did your union go on strike. Sorry I could not resist. Congratulations Zippyjuan.
    Last edited by Henry Rogue; 11-16-2012 at 07:45 PM.
    "When goods do not cross borders, soldiers will." Frederic Bastiat


    Peace.

  19. #18
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    Default

    "It's Mine!" lol
    Quiz: Test Your "Income" Tax IQ!

    Short Income Tax Video

    The Income Tax Is An Excise, And Excise Taxes Are Privilege Taxes

    The Federalist Papers, No. 15:

    Except as to the rule of apportionment, the United States have an indefinite discretion to make requisitions for men and money; but they have no authority to raise either by regulations extending to the individual citizens of America.

  20. #19

    Default

    Quote Originally Posted by Danke View Post
    "It's Mine!" lol
    Low Value Post. Malksum is coming for you.
    Quote Originally Posted by Ron Paul
    The government is incapable of doing what it's supposed to do. A job like the provision of security is something best left to private institutions.
    My music/art page is here"government is the enemy of liberty"-RP
    1 John 5:19: We know that we are children of God, and that the whole world is under the control of Satan.
    Quote Originally Posted by oyarde
    Govt hates you . You are only someone to toil and serve them as they take what you earn and squander it on shit you would not.
    Quote Originally Posted by Anti Federalist View Post
    This whole board is a thoughtcrime in progress.

  21. #20

    Default

    You didn't build that!
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  22. #21

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    It's only yours if you have enough guns to defend it--good luck!
    Those who want liberty must organize as effectively as those who want tyranny. -- Iyad el Baghdadi

  23. #22

  24. #23

    Default

    Quote Originally Posted by Zippyjuan View Post
    I am lucky enough to live in a moderate climate where I don't have to worry much about heating or cooling- a mile from the California coast. There is radiant heat in the ceiling which I have never used (never officiallly hits 32 degrees even in winter- "cold" weather means wearing long pants instead of shorts- not at all like Colorado winters where I grew up where yes I did walk two miles to school in two feet of snow and below zero temperatures) and in summer fans are enough to keep cool on most days. My utility bill runs about $35 a month year round. Work and the grocery store are easy walking distance so I don't need or have a car (no gas, insurance payments).
    definitely a good place to host your FEMA party.

  25. #24

    Default

    This is freaking awesome. I hope to be in your shoes one day. I can only imagine what it would be like to have a paid off home and the ability to survive on very few expenses. You are very right about the ability of lessening your expenses = higher savings. Good luck man.

  26. #25

    Default

    Congrats! We're in a similar situation. We paid cash for a fixer-upper this summer. We'll be putting the final touches on it over the next month and moving in right before Christmas. 1 1/2 rent payments to go here at the apartment in the meantime and then we'll be living rent/mortgage free. It's an extremely liberated feeling, but the guys are right, $1640 in property taxes every year will be a harsh reminder that we're only renting it from the government.

  27. #26

    Default

    Congrats! I hope you are buying physical with some of the extra cash in your pockets now.

  28. #27

    Default

    Quote Originally Posted by Henry Rogue View Post
    Did your company go on strike or did your union go on strike. Sorry I could not resist. Congratulations Zippyjuan.
    We were locked out so you could say it was the company.

    As for property taxes, even renters pay that- it is in the rent cost but a renter gets nothing to show for the money they spend on rent while a buyer does.
    (half of my property taxes are due next month).
    Thanks everybody!
    I work for the Jewish National Democratic Council. They pay me $100,000 a year plus $100 a post. That is why almost all of my posts are on Israel and how great a country it is. Check my post history to verify this. My other goal is to shut down not just this site but the entire internet. I am more powerful than the NSA. I am a former British citizen currently working for MOSSAD. Or maybe it is the KGB/ FSB. I voted for Obama at least seventeen times.

  29. #28

    Default

    With interest rates at record lows, I would refinance it and by physical with the cash. You can get a 30 year fixed at 3% and the loan is even assumable by an approved buyer. After calculating true inflation the 3% loan is negligible. Just keep your balance at 78% Loan To Value to avoid PMI. If you ever get hard pressed to make a payment just sell some of the physical. The last thing in the world I would do is pay off a 3% home mortgage. Cheap money. Your loan balance will never increase but the value of your dollar is sure to decline. You will pay that loan back with devalued dollars.

  30. #29

    Default

    Quote Originally Posted by Zippyjuan View Post

    As for property taxes, even renters pay that-
    Exactly, almost no one owns anything.

  31. #30

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    Quote Originally Posted by cubical View Post
    Exactly, almost no one owns anything.
    not when there's rent control or low demand.

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