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Mortgage Paid In Full

June 23rd, 2015 at 11:37 am

I logged on to our mortgage account this morning. It's Paid In Full! In fact, I get a little interest back of $15.94. No mortgage debt for the near future seems pretty nice for now. We'll see what I think after living in a rental home for couple months!

I did check with our mortgage company and they said it will be two weeks before they start processing the escrow refund, which takes three days, and then 7-10 days to receive the check in the mail. So easily three weeks from now before we get the check. The full amount I'm expecting is $2054.93. I'm sure I can find something to do with that money!

13 Responses to “Mortgage Paid In Full”

  1. CB in the City Says:

    That's such a nice feeling, isn't it?

  2. Ima saver Says:

    I love reading, "Paid in full"

  3. PNW Mom Says:

    Awesome! Glad it all worked out!

  4. scottish girl Says:


  5. snafu Says:

    There is so much controversy about the perceived value of buying as opposed to renting it would be so interesting to have your take based on your experiences of being an owner and now as renter. I realize you're in a different city and costs vary by regions but is it more cost effective to invest the sum otherwise used for housing? When you take out sum for municipal [property] taxes, interest part of mortgage, repairs, updates, upgrades, which is most cost effective? How much do privacy factors affect your day-to-day pleasure? What is the impact of lower sf per person? Does renting and investing housing $$$ impact your taxes in a negative way?

    I've often wondered if my concept is anywhere near facts, lol

  6. creditcardfree Says:

    @snafu, I'll be interested to see. I can say it will be nice to just give notice, load our household goods, clean and move on rather than all the showings, negotiating and repairing that comes with selling a home.

    Our rent is higher than our mortgage payment was so there isn't really anything to save each month, but I'm sure there are costs that we won't incur as renters that we would as homeowners. We also had such a low interest rate that our mortgage interest wasn't enough to put us above the standard deduction so we weren't capturing that specifically.

    I think I need to invest our home proceeds to really see the value of renting over buying. Smile We will make that decision in the next few months.

  7. Nika Says:

    Wow! Congrats - this is a great milestone!

  8. freeme journey Says:

    Celebrate - well done!!!

  9. rob62521 Says:

    Excellent! Congratulations!

  10. VS_ozgirl Says:


  11. FrugalTexan75 Says:


  12. LivingAlmostLarge Says:

    Woo hee! Awesome. I can't wait to join you and omg sounds awesome.

  13. laura/wife of the deacon Says:

    Smile Way to go! I think that each situation (homeownership vs renting) have their advantages and disadvantages!

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