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Grateful to be mortgage free after so many years on Maui!
Grateful to be mortgage free after so many years on Maui!
Yes, it really can happen - that mortgage can be paid off and you can own your home completely.  While it seems like 30 years, or even 15 years is such a long time, sooner or later the time passes.  If you've behaved, and not pulled all the equity out of your home, there will be a light at the end of the tunnel.
We probably all start out with a 30 year mortgage since it's the most affordable option when starting out on the home ownership track. Those 30 years stretch out into the future forever, but that's the price to pay for having your own roof over your head, and the security of being your own landlord and never getting an eviction notice.  With time, and some home improvements, things start to look better.  Interest rates fluctuate and sometimes it just makes sense to visit with a mortgage broker again to see if the monthly payments can be minimized.
So along comes a refinance or two, and hopefully with a downsizing into a 15 year plan to pay off that debt.  Always avoid the temptation to use your home as a ... more

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