Back in the "old days", it was the 'American Dream' to not only buy a home, but also to actually pay off that debt.
There were actually "Note-burning" parties. You would gather all your friends and family around so they could watch you burn your mortgage note papers once you paid off your loan. I've heard from many people over the years that attended those parties and how exciting it was for the host.
It seems that no one ever pays off their mortgage these days. Is it because of the amount of the loan, or the fact that no one stays in any one home long enough like families used to? I would say it's a combination of both.
If you're one of the few that are in a situation that gives you the option of paying off your mortgage because you're nearing the end of the loan term or if you've come into some money and you could now afford to just pay off your mortgage bill and have that awesome feeling of not writing that nasty old loan payment each and every month, then here is an article with some information that might give you some insight as to what decision would be best in your situation...READ ARTICLE HERE.
Also, here's an old Archie Bunker video clip from his "Mortgage Burning Party".
I'd love to know if you've ever paid off a mortgage and if you are glad you did or regret it. Leave a comment or shoot me an email.