My Dad and I just paid off our house this year. And it only took us less than 30 years to pay off the debt, which we paid off 27 years early. And my Dad and I are officially debt free.🎉
On our last home we did not set up escrow. It is not always a requirement. We paid our insurance and taxes direct on our own so that the house payment never fluctuated with an escrow account recalculation. 74 days until last payment!
He gets to a point about 4 minutes in. 1. Make sure you’re free and clear, both with the bank and the county. 2. Make sure you’re getting your property taxes mailed to you (direct bill). 3. Homeowner’s insurance company needs updated that there’s no longer a lien on the property. 4. Watch for a refund from the bank for your escrow balance (money that’s been collected by the bank monthly for your property taxes). Your property taxes may go up because you’ll lose the deduction that a mortgage entities you to. If you get an equity line of credit you may still be able to get the deduction. He gets to the main point close to the end of the video: 5. Work with your financial planner on how to spend the money. Silly me, I thought that’s what the video was going to answer instead of going through the boring details of the process with the bank and county.
@@yannip2083property taxes do not go up if I pay off your house. They can go up with it paid off or not. Taxes voted to go up, house values shoots up, u could get tax increase. If county votes on an increase for etc, they can go up. Whether house is paid for or not.
I’m so excited and happy for everyone who’s been able to pay off their mortgages! 🎉 I’m thrilled to share that I’m almost there too-I only owe $2,000, and I can’t wait to finally be mortgage-free! 🙌 I just watched this amazing video that gave me the clarity I needed on what to do next after paying off my mortgage. Thank you so much for sharing it! It truly gave me the insight I needed. Congratulations again to everyone who’s achieved this incredible milestone! Here’s to a future of financial freedom! 🏠💕
THIS is the video I’ve been looking for on this topic! It took a minute (about 4 minutes) for him to get started with the good stuff…but excellent information! Practical information. Great job! Thank you.
I have scheduled an aggressive goal to pay off my home mortgage by age 50 which is in 42 months . . .already making double payments and probably will have triple payments by this time next year!
When I paid off all my debts and home the first thing I did was create a FU account, it’s money I don’t touch that’s sits there only for emergencies it’s basically there so you don’t have to take any BS from anyone. You’re a free man then.
WOW!!! This video was a blessing to pop up in my feed! I will be paying my home off in Sept of this year and I had no idea I needed to do hardly much of anything once I pay it off. Thank you for making this video. I’ve saved it and set a reminder to view it again a month before pay off. Again thank you!
Well, I will be paying off our house in Dec 2023 with just 1.74%. I want to start 2024 with a paid off house though a lot of people will say, my decision is stupid, Lol.
The only thing I need to worry about now is my HOA. They are now allowed to issue very hefty fines. I already had to pay about a thousand dollars in fines. And they threatened to put a lien on my house because I was busy and not aware of the fines etc being so busy working 12 hour shifts at my job. I heard they can even foreclose (virtually steal) your home!
I've heard horror stories where the home insurance company has cancelled coverage once you pay off the house this is the reward for for paying off your debts
If you have never needed to file a claim on your homeowners insurance while you carried a motgage get rid of it and instead put that money in a interest bearing savings account. You dont have to have homeowners insurance after your home is paid off.
I paid off my 20 year mortgage 1999-2019 and I didn’t celebrate but I went saving crazy I am saving 70% of my income every 30 days… I had a plan that would be 20 years in the future back in 99 to be debt free once I paid off the mortgage and credit card debt and car loans so I am still driving my 04 mustang gt dark shadow gray automatic and my 14 mustang gt 6speed manual and my 1978 Datsun 280zx 2+2 5 speed it carried me through all my troubles for 20 years that old Z car and now I am ready for a new car but I am not going to overpay or no high interest rate so I will sit drinking beer and eating popcorn watching and waiting and saving until the economy get back on track
This is about the US.ofA. Anyone know of a similar video relating to the UK ? We don't have Escrow, and only council tax, which everyone pays, mortgage or not, rent or own. I am within a year of having my mortgage paid off ( yee-hah!) and know I need to find a safe place for the house title deeds that the mortgage company presently hold. I know some people recommend paying the bank to look after them, but not sure if there is anything else I need to consider.
I am debt free except my mortgage $94,000. I can pay it off in two months but two financial planners want me to invest the $94,000 instead of paying it off. They told me to wait 3 years when hubby retires but I want to be 100 percent debt free. We plan to move in 3 years. What’s your advice ?
I did the math for myself and even with my risk assessment I will take the middle way. Build out my portfolio and do overpayments to my mortgaged. Now my mortgage is 140k left amd my dividend portfolio is 220k. In 3 years I need to refinamce with new interests. But even with a bit higher interest rates my cashflow alredy will exceed the payment. So maybe I will do some renovation and have a bit left and refinance 80k and build out my portfolio to 300k. Even though it feels good yo be here after paying my mortgage since 7 years only.
I checked my mom bill this month she only owes 9000 plus dollars. so for her birthday i will take her to make this payment out of my pocket. so she can have less stress. she is 84 years old and she is very active. always doing some work here or there to make end meets. i wish i could have seen this 3 or 4 years ago.
Bought a house at 30. Paid it off aggressively in 10 years. I figured I was able to do everything I wanted while paying it off so I just kept putting the same amount for the last 15 years into retirement savings. Now my savings are worth more than my house.
Oh yeah, I'm looking forward to a visit with the county, and the school district. 🤡 I know a guy who went to pay his taxes, they told him he didn't own the property. Yes, I do. No, you don't. Who owns it? We can't tell you. A trip back home for paperwork and four hours later it was finally resolved.
Ask your lender for a notarized copy of the deed and ask your County for the deed of trust or land patent from the original Lord. When neither party can produce said docs., sue them.
Congrats! I only owe 500 dollars and checked online earlier today....turns out I only have to make two more 600 dollar payments 😅. I don't even care lol. Fuck them, I'm almost done. How many years did it take you to pay off? ( I know you aren't done yet but you practically are)
Pay off the mortgage and get another home. Rent the first one and pay the new one!! We need the tax break on the interest . Leverage your money. Stay away from stupid debt!!!
Believe me If I know how to pay my mortgage ASAP I know the value of the money and believe me I will not waste my money listening your suggestions :) Because I got my money to pay my mortgage not listening you :)
![Seungmin "그렇게, 천천히, 우리(As we are)" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/kAzmhLHePqU/mqdefault.jpg)
Im back to look at the video as i am about to pay my mortgage off in the next 30 minutes. I CANT BELIEVE IVE DONE THIS!!! 22 years in the making
congrats and definetly dont let people hate i wouldnt even tell people
My last payment goes in 24 hours, already breathing a sigh of relief.
Congrats! Wife and I are on it. Motivation here.
wow congrats. i still need 60k more to pay off 457k mortgage
👏
Paying off my mortgage TOMORROW on Tuesday, July 30, 2024. Hallelujah! Thank you Jesus!🙏🏿
LOL. No you're not.
Jesus, can’t even hold down a job let alone pay off a mortgage
Congrats so happy for you
I’m next…
Paid off my house today!!!!
just paid it off last week, now what is why I'm here, congratulations to everyone who paid off their home, blessings
My Dad and I just paid off our house this year. And it only took us less than 30 years to pay off the debt, which we paid off 27 years early. And my Dad and I are officially debt free.🎉
Congratulations 🎈 nice to know
27 years early?!
nice job, but HOW?
regular income? low cost mortgage? Life insurance policy?
On our last home we did not set up escrow. It is not always a requirement. We paid our insurance and taxes direct on our own so that the house payment never fluctuated with an escrow account recalculation. 74 days until last payment!
He gets to a point about 4 minutes in.
1. Make sure you’re free and clear, both with the bank and the county.
2. Make sure you’re getting your property taxes mailed to you (direct bill).
3. Homeowner’s insurance company needs updated that there’s no longer a lien on the property.
4. Watch for a refund from the bank for your escrow balance (money that’s been collected by the bank monthly for your property taxes). Your property taxes may go up because you’ll lose the deduction that a mortgage entities you to. If you get an equity line of credit you may still be able to get the deduction.
He gets to the main point close to the end of the video:
5. Work with your financial planner on how to spend the money. Silly me, I thought that’s what the video was going to answer instead of going through the boring details of the process with the bank and county.
What is #4 that "Your property taxes may go up because you'll lose the deduction that a mortgage entitles you to"? Go up by how much?
@@yannip2083 probably double.
@yannip2083 my mgt deduction is 70.00.
@@yannip2083property taxes do not go up if I pay off your house. They can go up with it paid off or not. Taxes voted to go up, house values shoots up, u could get tax increase. If county votes on an increase for etc, they can go up. Whether house is paid for or not.
9 out of 10 people don't benefit tax-wise having a mortgage. CFPs aren't tax pros anyway.
In a RUclips full of clickbait and get rich quick schemes, this quality video deserves millions of views.
I’m so excited and happy for everyone who’s been able to pay off their mortgages! 🎉 I’m thrilled to share that I’m almost there too-I only owe $2,000, and I can’t wait to finally be mortgage-free! 🙌
I just watched this amazing video that gave me the clarity I needed on what to do next after paying off my mortgage. Thank you so much for sharing it! It truly gave me the insight I needed.
Congratulations again to everyone who’s achieved this incredible milestone! Here’s to a future of financial freedom! 🏠💕
paid our new built house off in 10 years flat. last payment was july 2017. now investing hard and both still working.
cash pouring in everywhere
Bidenomics
Congratulations 🎉 😄
@@philcarson6731😂 definitely not.
Payed off on the 8th woopiiiiii😊😊😊😊
This is an extremely helpful video. Working on paying off my home- we have about 3 years left but I like the idea of planning easily
Good info reminders on next steps after mortgage payoff. Much needed.
I paid off my house today 🎊 🙏🏽🙌🏼👏😎
THIS is the video I’ve been looking for on this topic! It took a minute (about 4 minutes) for him to get started with the good stuff…but excellent information! Practical information. Great job! Thank you.
Who else is watching this without having a paid off house?
in 8 months ill be paying off
8 more payments for us as well 😊
Omg 8 months for us as well! Good luck, keep it up
🙋♂️🙋♂️
In about 10 years from being done, but I’m also 10 years ahead of schedule on my 25 year mortgage
I have scheduled an aggressive goal to pay off my home mortgage by age 50 which is in 42 months . . .already making double payments and probably will have triple payments by this time next year!
When I paid off all my debts and home the first thing I did was create a FU account, it’s money I don’t touch that’s sits there only for emergencies it’s basically there so you don’t have to take any BS from anyone. You’re a free man then.
Just paid off my mortgage yesterday. Hasn't really sunk in yet. It's going to be a weird feeling not making a mortgage payment anymore!
Wow, this is exactly what I was looking for. No one else shares these vital steps. Thank you.
Government deduction on property taxes for having a mortgage is hilarious.
Leave it to the government to reward people for maintaining debt.
WOW!!! This video was a blessing to pop up in my feed! I will be paying my home off in Sept of this year and I had no idea I needed to do hardly much of anything once I pay it off. Thank you for making this video. I’ve saved it and set a reminder to view it again a month before pay off. Again thank you!
It’s your phone listening your conversations
I paid off my house, which was at 3% interest. Stupid right. I paid it off because I'm concerned about the future.
Well, I will be paying off our house in Dec 2023 with just 1.74%. I want to start 2024 with a paid off house though a lot of people will say, my decision is stupid, Lol.
Do you still feel stupid a smart decision in this economical environment? I paid mine off 18 months ago and ten years early - absolutely no regrets.
@@sunshinewolf5980smart decision.
Considering paying off mortgage it's 3.2 percent. We would be paying off 20 years early. I do have some fixed income and stocks
The only thing I need to worry about now is my HOA. They are now allowed to issue very hefty fines. I already had to pay about a thousand dollars in fines. And they threatened to put a lien on my house because I was busy and not aware of the fines etc being so busy working 12 hour shifts at my job. I heard they can even foreclose (virtually steal) your home!
I've heard horror stories where the home insurance company has cancelled coverage once you pay off the house this is the reward for for paying off your debts
Words you will never hear, "I regret paying off my mortgage"
Cool info, just paid in full,
Thank you lord 🙏
This is super helpful! Thank you!
If you have never needed to file a claim on your homeowners insurance while you carried a motgage get rid of it and instead put that money in a interest bearing savings account. You dont have to have homeowners insurance after your home is paid off.
Great info....just paid in full!!
Read Rich Dad Poor Dad asap.
Very……. Helpful video. Love the Delayed payment account- great idea!
I paid off my house and now USAA has more has doubled my insurance. I'm not sure what to do now.
Switch insurance companies. Get “All state” insurance. USAA be over charging.
I paid off my 20 year mortgage 1999-2019 and I didn’t celebrate but I went saving crazy I am saving 70% of my income every 30 days… I had a plan that would be 20 years in the future back in 99 to be debt free once I paid off the mortgage and credit card debt and car loans so I am still driving my 04 mustang gt dark shadow gray automatic and my 14 mustang gt 6speed manual and my 1978 Datsun 280zx 2+2 5 speed it carried me through all my troubles for 20 years that old Z car and now I am ready for a new car but I am not going to overpay or no high interest rate so I will sit drinking beer and eating popcorn watching and waiting and saving until the economy get back on track
Thank you for the information you are the first one tell me about what next.
Thanks for all the info. Some things I knew already and the others I figured.
Dose the homestead exemption stay in place or do I have to refile. Great information
This is about the US.ofA. Anyone know of a similar video relating to the UK ? We don't have Escrow, and only council tax, which everyone pays, mortgage or not, rent or own. I am within a year of having my mortgage paid off ( yee-hah!) and know I need to find a safe place for the house title deeds that the mortgage company presently hold. I know some people recommend paying the bank to look after them, but not sure if there is anything else I need to consider.
My mortgage is paid off can I take money out to do renovations without having to pay it back??
Excellent informative and accurate information video!! THANK YOU!
Thank you for doing this video
Great Video Dec 2022 will be my payoff date 👍😉 can’t wait
January 2023 will be my payoff date.
@@marietaylor5174 congratulations 🎉🎊🍾
I am debt free except my mortgage $94,000. I can pay it off in two months but two financial planners want me to invest the $94,000 instead of paying it off. They told me to wait 3 years when hubby retires but I want to be 100 percent debt free. We plan to move in 3 years. What’s your advice ?
Pay your house off. Then save for retirement. That’s what we are doing. 😊
@@rob2738 Thank you!
Pay off the home
@@G..G..Paid it off in July. 100 percent debt free yay!
@@rob2738 Paid it off in July. 100 percent debt free.. yay!
I will pay off my home tomorrow and I am nervous
How did it go?
@@engrmom98 I guess they didn’t pay it off
Very useful information. Great video, thanks!
Great advice!
Here i am excited im about to finsh paying my house but everyone i know says i will pay more taxes and bla bla all negative stuff im now in doubt
People try and say it but its unlikely true. YOU HAVE A PAID OFF HOUSE! Smile every day because you are closer to peace!
Most won’t have any change to their taxes
I did the math for myself and even with my risk assessment I will take the middle way. Build out my portfolio and do overpayments to my mortgaged. Now my mortgage is 140k left amd my dividend portfolio is 220k. In 3 years I need to refinamce with new interests. But even with a bit higher interest rates my cashflow alredy will exceed the payment. So maybe I will do some renovation and have a bit left and refinance 80k and build out my portfolio to 300k.
Even though it feels good yo be here after paying my mortgage since 7 years only.
Thank you for advice..
Great video. Smashingly good 👍
Thanks for these info
Gracias from Texas 👍
Mortage free at 36, no car debt, no credit card debt. now whta????
I checked my mom bill this month she only owes 9000 plus dollars. so for her birthday i will take her to make this
payment out of my pocket. so she can have less stress. she is 84 years old and she is very active. always doing some work here or there to make end meets. i wish i could have seen this 3 or 4 years ago.
What a wonderful gift! You are a good son. Happy Birthday to your mom, may she have many more.
I love your advice.
I just paid off my house I only have one life to live my kids are grown I'm buying the sports car I want brand new.
how much money extra u gettin now
Why?
@@danielrafael1385none of your business 😂
Paid off our house and bought a new truck. Why? Because I've worked hard all my life and just wanted one.
Yes i did it good bye morgage what a feeling
Bought a house at 30. Paid it off aggressively in 10 years. I figured I was able to do everything I wanted while paying it off so I just kept putting the same amount for the last 15 years into retirement savings. Now my savings are worth more than my house.
Congratulations 🥳🥳
Video starts at 11;15 your welcome😎
EXCELLENT video!
Thank you
Pay my house off in 12 years. Retired young Life is good. Been out of the market for years, Doing just fine.
Nice information paid in full
I’m 5 months away from this Goal! At 28 I am so ready.
Congratulations 🎉
I just want to pocket my mortgage, save interest
Oh yeah, I'm looking forward to a visit with the county, and the school district. 🤡 I know a guy who went to pay his taxes, they told him he didn't own the property. Yes, I do. No, you don't. Who owns it? We can't tell you. A trip back home for paperwork and four hours later it was finally resolved.
I never celebrate I just feel relieved and bank balance empty of course it may recover slowly 😂
Paid house off at 31. So watching this
I brought a house and paid it off in 2 years and I waiting to see how debt free feels
It feels awesome 👏
Ask your lender for a notarized copy of the deed and ask your County for the deed of trust or land patent from the original Lord. When neither party can produce said docs., sue them.
I'm got 11539.22 left on mortgage 🎉❤
Congrats! I only owe 500 dollars and checked online earlier today....turns out I only have to make two more 600 dollar payments 😅. I don't even care lol. Fuck them, I'm almost done. How many years did it take you to pay off? ( I know you aren't done yet but you practically are)
900 lb gorilla... Asset stripping mtg to an entity you control and PAY IT MONTHLY. One car accident to no house WAAAAH
If you paid off your mortgage, now rent and buy another home.
NO!! Aggressively save and invest for as long as it takes and THEN get started on home number two 👍
Pay off the mortgage and get another home. Rent the first one and pay the new one!! We need the tax break on the interest . Leverage your money. Stay away from stupid debt!!!
How to block these American channels portraying as universal problem solvers?
Believe me If I know how to pay my mortgage ASAP I know the value of the money and believe me I will not waste my money listening your suggestions :) Because I got my money to pay my mortgage not listening you :)
😂😂😂
Next step: Buy gold.
Thanks to Trump I lost my itemized deductions and my refund is practically nothing...I am glad I will have mortgage paid off this year!
How is that Trump's fault? If you want a larger tax return, change your W-2.
Biden is worse 😂 Bidenomics
Is that a Boston accent I'm detecting
Michigan 😂