This month, I paid off my second mortgage! My original goal was to put down 20%, but I only put down 12%. I possibly could have put down more, but then I would have had no money to buy the cool electronic lawn mower I needed. So long story short, I took out a second loan for 8%, at a much higher interest rate, and a weird 15-year balloon term. I didn't like the terms, so I wanted to pay it off as soon as I could. Turns out that took me about 15 months. That is a bit of a relief.
So I now own 20% of my house! One-fifth. Which is about 300 square feet and some grass. I'll say it is my living room. Hands off! It's all mine. I wish I only had to clean 1/5th of the house.
2 comments:
Congratulations! That must have been a good feeling, making the final payment.
I think you should measure your house like measuring cups and not by rooms. In which case you really own the bottom fifth of the house - the carpet, tile, baseboards, etc., and you're working your way up to the roof.
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