Poverty

PoindexterOglethorpe

(27,074 posts)

22. I am not able to pay off my mortgage, but I have been paying an

Sat Dec 31, 2022, 03:12 AM

Dec 2022

additional $300.00 per month for the past two or three years. It will cut several years off my mortgage.

At age 60 I got divorced and then moved half way across the country. Purchasing a home outright was completely out of the question, but I was able to get a mortgage for a small (2 bedroom, 2 bath, 3 skylight) home, about 900 square feet. Perfect for someone living alone. As I frequently say, I can afford the house payment. Hooray!

There's a common wisdom out there that you should absolutely have your home paid off when you retire. Well, while that's a wonderful goal, for at least some of us it's not realistic. Getting divorced at age 60, moving to another part of the country, getting back into the labor force, are all things that matter.

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Paying off the mortgage tomorrow! Yea! [View all] Chainfire Apr 2022 OP

Dumping homeowners insurance is a terrible idea jimfields33 Apr 2022 #1

The insurance companies have made it easy. They do not want to write insurance here. (FL) Chainfire Apr 2022 #6

I'm in the same boat markodochartaigh Apr 2022 #12

206.67 blm Apr 2022 #2

My guess, based on my putting change in an empty gallon popcorn jar, rsdsharp Apr 2022 #3

I'm Ok financially but gibraltar72 Apr 2022 #4

Trust me, I have considered all options. Chainfire Apr 2022 #7

I am so sorry you are in this situation. Susan Calvin Apr 2022 #14

If I lose the home, the property will still be here. Chainfire Apr 2022 #10

This message was self-deleted by its author Sherman A1 Apr 2022 #5

You probably should not judge what is "silly" without knowledge of the facts of the situation. Chainfire Apr 2022 #9

Am glad to know that you will bank what you would pay for mortgage and insurance. No Vested Interest Apr 2022 #13

You are correct Sherman A1 Apr 2022 #17

Insurance is a hole in the ground where you pour your money piddyprints Apr 2022 #8

I'm going with $325. I'm willing the 23 pounds to be heavy on quarters and low on Pennies! MLAA Apr 2022 #11

Without counting, I would say that the majority of the coins will be pennies. Chainfire Apr 2022 #19

Ooh, this is fun! wackadoo wabbit Apr 2022 #15

Oh, I love the way you think! Chainfire Apr 2022 #18

Thanks! /nt wackadoo wabbit Apr 2022 #21

I'll guess $235.02 AnotherDreamWeaver Apr 2022 #16

Total is in Chainfire Apr 2022 #20

I am not able to pay off my mortgage, but I have been paying an PoindexterOglethorpe Dec 2022 #22

I understand. Chainfire Dec 2022 #23