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Paid in full

dacdots

Master of the Pit
OTBS Member
1,154
11
Joined Jul 3, 2005
Last week my wife and I had the great fortune to go and make the last payment on our place.Its a great feeling knowing you finally own a little part of the world that is all yours.Its only a small five acer tract but Ive found its plenty enough to keep me very busy and we love it,its home for us and our children and thier children to come.I read once that you really never own the land but are a steward living on the land.Its your responsibility to care for the land and make it better,which is what we have been trying to do.Its very different from the day we first moved onto it and Im just getting started.Hopefully within the next couple of years we will be able to start building a new house and I cant wait.
 

wvsmokeman

Smoking Fanatic
OTBS Member
925
11
Joined Sep 17, 2006
Thats good to hear. I still have a few years to go before my place belongs to me and not the bank. My home sits on 1 acre of wooded land. I am always enjoying the wildlife in my back yard. I have deer come through most evenings and I like to listen to the owls at night. We have also done much improvement, inside and out and will continue to do more. There truly is no place like home.
 

cheech

Master of the Pit
OTBS Member
2,330
14
Joined Dec 19, 2005
Congratulations!

We paid off our place a few years ago it was not easy but so worth the hard work. Today so many are living pay check to pay check and you can see how stressed out they are.

Good work
 

smoked

Master of the Pit
OTBS Member
1,009
10
Joined Dec 14, 2006
don't forget that unfortunatly while you paid the bank....uncle sam will insist every year to get tax's on it and if you forget they will take the land from you....
 

hillbillysmoker

Master of the Pit
OTBS Member
1,078
10
Joined Feb 7, 2007
I am so happy for you dacdots. Like you, we paid our 11 acres off a few years ago and continue our stewardship. You are so fortunate in that your little bit of heaven on earth, like ours, is in "Almost Heaven" West Virginia.
 

monty

Master of the Pit
Moderator
OTBS Member
SMF Premier Member
2,370
11
Joined Jul 17, 2005
David,

My warmest most sincere and heartfelt congratulations and best wishes to you and your family. Keep moving forward and never look back! Now you just don't own your little slice of heaven...you REALLY OWN it!

Good Luck, God Bless,
and
Cheers, Landowner!
 

deejaydebi

Legendary Pitmaster
8,005
23
Joined Nov 18, 2006
Congradulations David! Did you have a mortgage burning party?

YEA! I've got 7 more years I think but I'm working on cutting that down early.
 

linescum

Smoking Fanatic
OTBS Member
SMF Premier Member
917
12
Joined Nov 12, 2006
got 5 yrs to go on a 15 yr mortgage and it won't be the only thing smoking that day
 

tonto1117

Master of the Pit
OTBS Member
1,632
11
Joined Jan 25, 2007
Congratulations Dadcots, that must be a great feeling
. We bought this house 4 years ago on a 30 year mortgage and we will have it paid off in another 3 years....Woooo Hooo.I just wish property values would start to come back in this area of the country. Michigan has been hit hard!!!
 

ultramag

SMF Events Planning Committee
2,112
13
Joined Apr 17, 2006
Great news! It's a great feeling to own something and not just be renting monthly from the bank. Congrats David.
 

dionysus

Meat Mopper
OTBS Member
292
14
Joined Jul 4, 2006
Congrats David, it's a great feeling isn't it. Just a little tip, if you do have that mortgage burning party, make sure you keep the originals and burn copies. My better half actually tossed in the original and it was a b***h getting "original" copies from the lenders - LOL
 

dionysus

Meat Mopper
OTBS Member
292
14
Joined Jul 4, 2006
I agree Debi, but it's LOTS easier to provide proof of ownership. For the life of me I can't see what's the big deal about copies .... everyone wants (&$%*$ originals
 

deejaydebi

Legendary Pitmaster
8,005
23
Joined Nov 18, 2006
After we paid a mortgage here we get a deed separate from the mortgage so burning the original is okay (but I'd make a copy that says PAID IN FULL) and keep it.
 

dionysus

Meat Mopper
OTBS Member
292
14
Joined Jul 4, 2006
For us the land title (ownership) is in our name right from the beginning. However there is a lien on the property in the mortgage holders name for the amount of the mortgage. This prevents the sale of the property, or title change, until the lien is removed. So the paperwork we receive documents the removal of the lien and showing "clear title" on the property.
 

jts70

Smoking Fanatic
OTBS Member
805
10
Joined Mar 12, 2007
Awesome! It really is a great feeling, nothing like place to call yor own!!
 

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