When Will You Celebrate "D-Day" (Debt-Free Day)?

[Malthus]

Heh my wife lost patience and paid off the remainder of the mortgage today with some money she had lying around in her chequing account - it was only a few thousand.

D-Day is today, not August as planned. Our mortgage is ... gone.

Feels a bit strange not to have that hanging about. 

[PRC]

Heh my wife lost patience and paid off the remainder of the mortgage today with some money she had lying around in her chequing account - it was only a few thousand.

D-Day is today, not August as planned. Our mortgage is ... gone.

Feels a bit strange not to have that hanging about. 

Congratulations!  That didn't take you very long... I'm very jealous.

[Malthus]

Heh my wife lost patience and paid off the remainder of the mortgage today with some money she had lying around in her chequing account - it was only a few thousand.

D-Day is today, not August as planned. Our mortgage is ... gone.

Feels a bit strange not to have that hanging about. 

Congratulations!  That didn't take you very long... I'm very jealous.

Thanks. 

Actually, the short time is a bit misleading, as we saved up a big wack of cash beforehand - by living in the same apartment for 10 years prior to buying a house. Our downpayment was about half.

While our mortgage was only for 6 and three-quarters years or so, when you figure that period, it was closer to 12-15 years.

[garbon]

Just made my last car payment!

[katmai]

Just made my last car payment!

Time to buy a new car!

[garbon]

Just made my last car payment!

Time to buy a new car!

I did just receive several mailers about being pre-approved for a car loan.

[DGuller]

I made my last electricity bill payment three mon

[Malthus]

Great, now I'm having trouble getting the banks to stop making automatic withdrawals from my account to pay the non-existant mortgage. 

[HVC]

Go online and cancel it. Saves the hassle.

[Admiral Yi]

When we went in to pre-qualify at BoA the loan officer was trying to convince us to go for nearly double what we wanted qualification for.  My wife and I both thought she was nuts.

I bet she was pushing that shit hard.  That's how they make their money, rat bastards.

Banks make money lending??  Why was I never told this before?

[Caliga]

Heh my wife lost patience and paid off the remainder of the mortgage today with some money she had lying around in her chequing account - it was only a few thousand.

I keep telling Princesca to do this with our HELOC, since we have well more than enough in savings to pay it off, but for some reason she won't.

[citizen k]

I'm a Keynesian and believe getting out of debt is bad for the economy.

[OttoVonBismarck]

I don't have any debt for "personal" reasons. Meaning debt that covers "living" (mortgage, revolving credit card debt etc.) We do leverage our money to make more money though. Properly done there is no reason not to trade on margin, which we do. We've also incorporated our property management venture and have some personal financial ties to it, in the grand scheme we eventually hope to have the property management business on solid enough grounds that it is truly separate from our finances so that if it all goes under we won't have any problems. However when we started it up there was no real way to do that, we needed a fairly large loan from a bank and they needed our personal credit profile to approve it (really my wife's, since she makes several multiples as much as I do in regular income.)

[OttoVonBismarck]

I also voted debt-serf forever, I see no reason to ever stop leveraging money. But if you're smart you work to the point where an LLC is the one that is actually going into debt, not you personally.

[Malthus]

I also voted debt-serf forever, I see no reason to ever stop leveraging money. But if you're smart you work to the point where an LLC is the one that is actually going into debt, not you personally.

I wouldn't count that sort of debt towards debt-serfdom, myself.

Anyway, like they say, owe the bank a little money and the bank owns you, owe the bank a lot of money and you own them.