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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 think we never get the candidate we exactly want unless you're the candidate." Rand Paul.

    "If everyone is thinking alike, then somebody isn't thinking." - George S. Patton

    I am Zippy and I approve of this post. But you don't have to.



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  3. #2

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    Congratulations! (me: envious)
    Liberty has meaning only if we still believe in it when terrible things happen and a false government security blanket beckons. - Ron Paul

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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

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    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 11:14 PM.
    "I think we never get the candidate we exactly want unless you're the candidate." Rand Paul.

    "If everyone is thinking alike, then somebody isn't thinking." - George S. Patton

    I am Zippy and I approve of this post. But you don't have to.

  6. #5

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    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.

    Quote Originally Posted by nikcers View Post
    You know how when you are extremely hungry everything tastes better, well I am hungry - but I am not going to eat shit because its the tastiest thing around.

  7. #6

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    Congrats Zippy. Just make sure you pay your dreaded property tax--or they'll show you how fast the property is theirs!
    "Logic is an enemy and truth is a menace." ~ Rod Serling
    "Cops today are nothing but an armed tax collector" ~ Frank Serpico
    "To be normal, to drink Coca-Cola and eat Kentucky Fried Chicken is to be in a conspiracy against yourself."
    "People that don't want to make waves sit in stagnant waters."

  8. #7

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    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

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    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!
    The Truth About Central Banking and Business Cycles
    http://www.youtube.com/watch?v=YaxIPPMR3fI#t=186

  10. #9

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    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!
    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler

  11. #10

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    Congrats man!

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

  12. #11

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    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.
    Regardless of any observations and opinions that I share about Donald Trump that fail to shred him, I am not a Trump voter and have no plans to be.

    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

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    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
    ..
    .How do you tell when anti-vaxxers are lying? Their lips are moving.

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

  14. #13

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    Jealous, totally. Yay, zippy!
    Quote Originally Posted by Torchbearer
    what works can never be discussed online. there is only one language the government understands, and until the people start speaking it by the magazine full... things will remain the same.
    My music/art page is here"government is the enemy of liberty"-RPR.I.P.Philip Barrett"BuddyRey"Reynolds-Gone but never forgotten

  15. #14

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

    Congrats on no longer paying the bank though.

  16. #15

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    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

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    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 08:45 PM.
    Quote Originally Posted by BuddyRey View Post
    Do you think it's a coincidence that the most cherished standard of the Ron Paul campaign was a sign highlighting the word "love" inside the word "revolution"? A revolution not based on love is a revolution doomed to failure. So, at the risk of sounding corny, I just wanted to let you know that, wherever you stand on any of these hot-button issues, and even if we might have exchanged bitter words or harsh sentiments in the past, I love each and every one of you - no exceptions!

    "When goods do not cross borders, soldiers will." Frederic Bastiat

    Peace.

  19. #18

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    "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

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    Quote Originally Posted by Danke View Post
    "It's Mine!" lol
    Low Value Post. Malksum is coming for you.
    Quote Originally Posted by Torchbearer
    what works can never be discussed online. there is only one language the government understands, and until the people start speaking it by the magazine full... things will remain the same.
    My music/art page is here"government is the enemy of liberty"-RPR.I.P.Philip Barrett"BuddyRey"Reynolds-Gone but never forgotten

  21. #20

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    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

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    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

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    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

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    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

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

  28. #27

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    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 think we never get the candidate we exactly want unless you're the candidate." Rand Paul.

    "If everyone is thinking alike, then somebody isn't thinking." - George S. Patton

    I am Zippy and I approve of this post. But you don't have to.

  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

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    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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