How We Paid Off our mortgage in 3 years

This is a short video on how we paid off mortgage in 3 years. The pandemic had something to do with the pay off process. I know 2020 is a tough year for a lot of people and I hope this video comes out as inspirational and a highlight of some good outcome in 2020. Hopefully it will be helpful to someone.

[marsha]

Congrats. My goal is to pay off my mortgage by the end of this year. $22, 000 left.

[shortmashins]

Paid off my house at 2018. Best decision, fortunately for me, both our jobs are stable and we've been saving every pennies. Congratulations

[blessings]

Congratulations, you’ve achieved a great accomplishment!

[JoonGrace]

I understand you perfectly and I was born and raised in the USA :)
Congrats on paying your mortgage off! I only have 15k to go but I'm too close to retirement to do what you did. Just throwing every bit of money on it. Hope to have it paid off within the year.

[Rafro]

Inspiring! I don't know if this makes me lazy, but my dream right now is to take some time off from working full time and raise a child with my wife after paying off our mortgage. We will be completely debt free and can work only as needed to cover bills and other needs. If we want a nicer vacation, we simply put in more part time hours. Work as much as we want. That can be 15 hours one week or 30 the next.

[whatsnext]

I really enjoyed your video. Huge Congrats for paying off your mortgage in record time! You made a very wise choice. Security over growth would be my choice as well.

[stephen]

You got your house paid off and no one can take house off you now . You took out part of your pension to pay it off without penalty fees. And your job was not as secure you done the right thing well done

[voctor]

Good for you. I also am choosing peace of mind over growth.

[rogerjohnson]

I believe you made the right decision because of the situation you were in. I would have made the same decision. I'm guessing your house payments were between $1, 200 to $1, 600 a month. Once a home is paid off...which is the number one expense (next to student loans), you now have free up money to start over again. At 35 and if your spouse work...that money will grow fast in your savings. My wife and I will be buying a home this year (if no major issues come up). We will be signing up for a 30-year mortgage and prepaying it like a 15-year mortgage...plus extra payments. A lot of Youtube videos push for a 15-year mortgage but what IF something happens. The 30 year mortgage allows more control to handle your finances. You did well guy, you receive a thumbs up.

[otoolefinancialgroup]

Great video...Gotta pay off that mortgage as fast as possible. It's the interest that is killing you..! The best way is to make strategic, lump sum payments, at specific dates, to eliminate future mortgage payments & eliminate interest.
For example: Based a $200, 000 mortgage...if you sent in $5, 000 with your very 1st mortgage payment, you would knock off 23 payments & save over $23, 000 in interest.
Once the mortgage is paid off, you can then use those monthly payments to invest in wealth building products. Maybe an annuity, IUL or a whole life policy. You can then access those funds in the future tax free.

[minimumwagemoney]

I am your 100 sub lol... I paid off my house June 2019.

[elbell]

Wow, so happy for you. Congratulations on being mortgage free! The sound of mortgage free is beautiful! My goal is to pay off our mortgage in 15 years or less.

[MrTofu]

Great job. You save maybe $300, 000 in the process. Stay away from whole life policies.

[RyanBooher]

Thank you for sharing your story.

Did you use any tools or spreadsheets to set your goal, strategy (how) and/or track your progress?

[cityofjoy]

If home prices are deprecated due to pandemic is it a good idea to pay off. Please advise 🙏

[andrewbullard]

Talk about what you paid in taxes this year. Did you take it out of a ROTH?

[wishfulthinking]

What about your retirement though?... Are you delaying your retirement because you wanted to pay off your mortgage?

[drummer]

The virus has been good to you. Best wishes to you and your family.

[summiitt]

I constantly struggle with putting everything to pay off the house? 80% of the people say don't do it. So looking for positive so called "Pro's " of paying house of early and not having any cash. Although nice to know that you are not actually paying so much in interest anymore?