Comments on: How to Get Rid of Mortgage Loan Debt http://www.howtogetridofstuff.com/finance/how-to-get-rid-of-mortgage-loan-debt/ Sat, 12 May 2012 15:10:13 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: L.D.Sewell http://www.howtogetridofstuff.com/finance/how-to-get-rid-of-mortgage-loan-debt/comment-page-1/#comment-57505 L.D.Sewell Tue, 01 Nov 2011 10:44:05 +0000 http://www.howtogetridofstuff.com/finance/how-to-get-rid-of-mortgage-loan-debt/#comment-57505 Life can be an interesting thing. There are many lessones to be learned over the course of time, and many of us have to learn them the hard way. Yet, if we look back into history much of what we need to make better decisions is right there. Our great grand parents and their parents before them had much better ideas on personal resource management than most people do today. They paid cash, rarely if ever used credit to buy consumer goods and they didnt buy huge cheap homes they couldnt afford with little or no money down. They knew that borrowing any money from anybody for anything was (and is) a bad idea, and they clearly understood that. There is no such thing as a good debt. I know that rattles your mind, but before you huff and puff and give me your opinion - take a hard honest look at the world around us. Then consider that the root element of all the trouble is massive consumer debt, which in essence makes us all wage slaves so long as we owe anything to anyone else. Some ways to get rid of a mortgage faster : Rent rooms, rent out the whole house and move somewhere unconventionally (RV,Boat, Converted bus etc.) or sell it and buy somthing you can actually pay cash for, or buy a small piece of land and build a small house yourself. If you keep the existing house, decrease your costs and at the same time increase your income then extra money can be paid toward the principle paying it off much sooner and saving thousands in interest. Our ancestors bought small well built homes at modest prices which they put large down payments on, or better - saved their money and paid cash. Small homes not only cost less to build, they cost much less to own and maintain. Lower utilities, less upkeep, and often lower taxes. All money that can go toward paying off other debts and then into savings,and investments. For most of us a mortgage payment is the single largest debt we have, and it takes up a lot of our net income. Eliminating this debt completely is a top priority in the battle for financial independence. Life can be an interesting thing. There are many lessones to be learned over the course of time, and many of us have to learn them the hard way. Yet, if we look back into history much of what we need to make better decisions is right there. Our great grand parents and their parents before them had much better ideas on personal resource management than most people do today. They paid cash, rarely if ever used credit to buy consumer goods and they didnt buy huge cheap homes they couldnt afford with little or no money down.

They knew that borrowing any money from anybody for anything was (and is) a bad idea, and they clearly understood that. There is no such thing as a good debt. I know that rattles your mind, but before you huff and puff and give me your opinion – take a hard honest look at the world around us. Then consider that the root element of all the trouble is massive consumer debt, which in essence makes us all wage slaves so long as we owe anything to anyone else.

Some ways to get rid of a mortgage faster : Rent rooms, rent out the whole house and move somewhere unconventionally (RV,Boat, Converted bus etc.) or sell it and buy somthing you can actually pay cash for, or buy a small piece of land and build a small house yourself. If you keep the existing house, decrease your costs and at the same time increase your income then extra money can be paid toward the principle paying it off much sooner and saving thousands in interest.

Our ancestors bought small well built homes at modest prices which they put large down payments on, or better – saved their money and paid cash. Small homes not only cost less to build, they cost much less to own and maintain. Lower utilities, less upkeep, and often lower taxes. All money that can go toward paying off other debts and then into savings,and investments.

For most of us a mortgage payment is the single largest debt we have, and it takes up a lot of our net income. Eliminating this debt completely is a top priority in the battle for financial independence.

]]> By: Lily http://www.howtogetridofstuff.com/finance/how-to-get-rid-of-mortgage-loan-debt/comment-page-1/#comment-43866 Lily Tue, 16 Sep 2008 15:48:27 +0000 http://www.howtogetridofstuff.com/finance/how-to-get-rid-of-mortgage-loan-debt/#comment-43866 When you get a mortgage, make sure to put down the largest deposit possible so it is easier to pay off the rest in time. Also, make sure there are no penalties if you want to pay more than your monthly amount, or if you want to make additional payments, or pay it off early. Then, try to pay a little extra every payment - even just $20 each payment will add up over time. When you get a mortgage, make sure to put down the largest deposit possible so it is easier to pay off the rest in time. Also, make sure there are no penalties if you want to pay more than your monthly amount, or if you want to make additional payments, or pay it off early. Then, try to pay a little extra every payment – even just $20 each payment will add up over time.

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