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When do you expect to make your last mortgage payment?

Poll Results: When do you expect to make your last mortgage payment?

 
  • 63% (12)
    Before I retire
  • 0% (0)
    After I retire
  • 10% (2)
    Not Sure
  • 26% (5)
    Other
19 Total Votes  
post #1 of 15
Thread Starter 

What do think might affect paying off your mortgage as planned?

post #2 of 15

We paid ours off in 2005

post #3 of 15

We could pay ours off now, but our interest rate is only around 3% so we're opting to just save that money instead to free it up for other uses.  We definitely want to get it paid off before we move again (hopefully within 5 years).

post #4 of 15

We paid ours off in January. Last year at tax time, our tax guy said that we were right at the edge of still being able to deduct our mortgage interest, so we figured after this year, we probably won't be paying enough mortgage interest to deduct it anymore, so we just paid it off. Our interest on the mortgage was more than what we were getting in our savings account anyway.

post #5 of 15

We could pay ours off right now, but that's a large chunk of change to part with right now in a shaky economy.  I don't feel comfortable being that low on cash.  Once it's around 1/2 the amount it is now we'll pay it off.  We'll definitely have it paid off by the time we retire.

 

The things that would screw up our plans would be dh becoming unemployed or one of us having a serious, expensive medical issue.


Edited by Starlite - 3/12/12 at 7:17am
post #6 of 15

We don't have a mortgage now and don't plan on having one. If we get one, then it will be small and it will be paid off within 5 yrs - well before retirement.

 

post #7 of 15

thankfully our mortage isn't too high and we're able to save enough $ where we are still able to use that interest on our taxes.  our tax return got so complicated this year I'm afraid to talk to the accountant....eek..I think this might be the last year we'd make enough interest to deduct too, but I definitely want it paid before my big guy enter college!!

post #8 of 15

We'll pay ours off early, but we don't have a specific date yet.

post #9 of 15

We still got 20 years left. If I had my way though,I'd refi for a 10 years but I don't think we can do it.

post #10 of 15
If we stay on the schedule we're on we will have it paid off in I think it's 4 more years. We also COULD pay it off now if we took money from our savings and investments, but since we are still getting the mortgage tax break, we don't.
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