This is a great article from the OC Register.
I get questions all the time on ways to pay off your mortgage early and this is a great article with good ideas:
http://ocdeals.ocregister.com/2011/06/18/best-ways-to-pay-off-your-mortgage-early/99395/
Just do it!
Imagine how it would feel to have your income all to yourself? How would it feel?
:)
I went and maybe I missed it but I saw some basics and a few comments.
Anyway the thing that made me laugh behind this is, it came from OC register. Isnt OC like the unofficial home of "refinance constantly and take all the cash you can out of your home to buy expensive cars, boats and live a lifestyle you actually cant afford"?
Now I am NOT lumping ALL of OC into that, as I know (or it used to be about 27% actually owned their homes outright but I also know a huge amount of foreclosures came from such behavior and I think last I heard over 50% were still upside down in their homes in OC)
I am glad to see the change in position and say its good to payoff the home but I have to wonder how many will follow that
Thanks for sharing
thanks for sharing sheila! having less or zero debts/mortgage to pay would be heaven.
Hello Shelia,
Great link with some good information for those that want to pay off there mortgage early.
Hi David. You may watch too much tv, or read too many articles over-generalizing and/or sensationalizing the situation here. Media is way more interesting that way. :) I grew up here and the OC is NOT a community of irresponsible homeowners. We do, however, live in one of the most popular places to live on the planet, making it very expensive. We pay more for our "sunshine tax" and it CAN lead to easier default (than say the midwest where housing might be pretty regularly 15% or less of your budget) I think. That scenario would be impossible here, save extended family living situations. It is typically easier to replace the income from a lower paying job than a higher paying one. That can be a problem in a downward economy. Especially when not everyone plans for the rainy day! :( Having said that, we have a pretty diversified financial market. I have as many clients right now who are working on paying off their mortgage as I have who have one that is "too big" for their budget. And, sadly, MOST of those whose mortgage is too big is because of a job loss or serious downturn in income. I definitely have more financially responsible clients than the alternative. I like to think that I have played a part in that over the years for my clients. :) Good dialogue. Thanks for commenting on my post!! :)
Hi Chris I am certainly looking forward to the day when I can say I am DEBT FREE! :) Thanks for commenting!
Hi James Thanks for commenting.
Sheila, That's a great one! Thanks for sharing, and I bet a lot of your blog readers will thank you!
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