Home Mortgage And Our Age

October 25, 2009 by · 5 Comments
Filed under: Blog 

Home mortgage refers to the document borrower signs that gives the lender a right to take possession of the property if the borrower fails to pay off the loan.

We, the people, and they, the people also, love to own things. Some important, some trivial. From small things with great sentimental values to large things that everyone envies. Owning a home for most is a dream come through and again for most owning a home is a dream most will never truly realize.

Yes, most live in a home but as long as you make payment on the home mortgage, in my opinion you do not own it. It does not diminish the pleasure you or I drive from living in a home that is not a rental nor do we take less pride in the fact that we actually live in a property that to most people can call it ours.

After all, we pay property tax, the insurance and the homeowner dues. We mow the lawn even when we rather watch football and repair the roof when needed even if we have to borrow some more money to pay for it. We furnish the home, buy indoor plants. We landscape the yard and we throw parties in the back yard and play tag with our rottweiler.

For all practical purposes except one, we own the home. So why am I making a big deal out of this thing called home mortgage. May be I shouldn’t since over the last twenty some years of home ownership, home mortgage, home equity line of credit and second mortgage has helped me out of so many financial troubles that I can hardly count.

As my wife and I get older we also realize that every time we traded our home up we moved to a bigger and more beautiful home which also meant a bigger home mortgage. We realize that we cherish freedom more and more and home mortgage obligation is something that we love to have paid off. We like to truly own the home.

As you look at various lenders looking for a new home mortgage loans or refinance your existing home, you may also consider that you, at some point, may want to own your home. Perhaps, the lowest interest rate home mortgage is not the best way to go but the one that with a little hardship helps you own your home a little earlier.

I think one of the greatest financial securities in life is not owning a home but having the home mortgage paid off. What do you think?

Vishy Dadsetan
http://www.articlesbase.com/finance-articles/home-mortgage-and-our-age-93046.html

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Comments

5 Responses to “Home Mortgage And Our Age”
  1. Ron T says:

    Home mortgage?
    I have a mortgage of $100,000, and I want to pay it off super fast, so Ive been selling heaps of stuff on E.Bay, and putting the cash straight onto my home loan, what other ways can I generate cash?

  2. beatlesluvr80 says:

    Be sure to avoid early mortgage termination fees, that is, if you pay all of your mortgage off before it ‘supposed’ to be over, you might face a fine, may be a couple of thousand dollars. Depending on your mortgage company. You could buy stuff off of ebay and other online auction sites they sell it for a higher price. Or you could be a real estate broker, that is, you sell homes, the certification is easy. Just you gotta find the right houses at the right times.
    References :

  3. sunshine_today says:

    Keep plugging away. I have overpaid my mortgage just about every month since I got my loan 4 years ago. I am now paid down to what I normally would have been at year 16 of paying, so it’s a good feeling! But I am still not even at half of the payment going toward principal, more is still going to interest every month. At some point the principal amount applied will be more than the interest, and that’s when the payoff will come quickly.

    Keep going, even if your over payments are sporatic. You can see that the $100 you pay now that is applied all to principal might be worth $1200 over the life of your mortgage.

    Here is a cool site: http://www.dinkytown.net

    they have over 200 financial calculators including mortgage calculators. You can enter a single payment made or a series of payments made and see how it affects your mortgage over the life of the loan.
    References :

  4. pmeq says:

    In addition to putting lump sums as you have been doing, the best way is to increase your payments. Increase it annually and it’ll be paid before you know it. Good luck!
    References :

  5. MTB says:

    This has worked for me:

    Start eating without meat because it is super expensive. Eat dishes made with dry beans, rice and lots of spices. Avoid spending money on fresh fruits and vegetables because they are expensive too; instead, take a one a day comprehensive vitamin and mineral tablet. Fill up on potatoes because they are the cheapest commodity out there. Drink tap water only.

    No more new clothes purchases–only used from a local thrift shop.

    Sell your car and take mass transit. Then, you will not have to pay insurance, taxes, maintenance, fuel, etc.

    Leisure activities should all be of the free type: walking, going to the park, playing checkers, reading books from the library, etc.

    Terminate cable television–it is mind rot anyway.

    Terminate unread subscriptions.

    Tear up your credit cards.

    Get rid of your pets.

    Have your spouse and children start working at least part-time.

    Stop using air conditioning–thirty years ago only a few people used it.

    One shower every two days.

    No specialty beauty products.

    Turn your refrigerator off. You don’t need it.

    Dry your laundry outside.

    No more concerts, sporting events, dining out, etc.

    Well, you get the idea. If you do these things, within ten years you will have amassed one million dollars or more. I guarantee it.
    References :

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