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Thursday, June 26, 2008

"And That Mortgage is Gone!"; Kevin is Mortgage Free!

I had previously reported that I had paid $99.02, last Thursday. Well, I am happy to now be able to report, that AmeriFirst has posted that payment. As such, I am now 100% inequitably mortgage free. I am so thrilled, to finally, have that mortgage company off my back. No more home improvement debt to hold my finances down.

I can now turn my focus onto my Fingerhut debt. As I reported, earlier this week, that Fingerhut is being rolled over to a 0% transfer credit card. Interestingly, it is the same company that had bought out my previous credit card and refused to lower my interest or increase the credit limit. Now, I will be able to payoff the Fingerhut debt without incurring additional interest on the debt. I am hopeful to have that debt eliminated by November, but we shall see what happens.

All, I need to do is get this card and the car paid off, and I will be debt free. Well, except for the IRS, which has my debt deffered. As much as i would like to have the car paid off by the end of the year, I think it would be more realistic, to have it paid off by July 13, 2009. That means I am making the goal to be paid off before my 41st birthday.

My goal is to not only be debt free by that day, but also to celebrate my birthday with my first trip to New York.







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go ahead share your thoughts with me now.

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Posted by Kevin Surbaugh at 6/26/2008 08:12:00 AM
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13 comments:

  1. Are you saying your house is completely paid off and that you don't have a monthly mortgage?? must be nice. Can you please elaborate.

    Thanks.
    ReplyDelete
  2. anonymous -

    Not sure what more to say. As I have said for the past 2 years, all I had on the house was two 2nd mortgage loans. One paid off last year, was a CONsolidation loans, the other was a home improvement loan. That loan was only a payment of $75/ month. Now this past month with the $101 payment from the beginning of the month and the $99.02 that was mailed last week, that final mortgage loan no longer exists. I no longer have any debt on the house. All I have left, is one unsecured loan and the car loan (and of course the IRS).
    ReplyDelete
  3. Way to go Kevin!!!!!!!!

    Mzmuny
    ReplyDelete
  4. Why not take out a home equity loan to pay off the car, fingerhut and the IRS?
    ReplyDelete
  5. thats fantastic! good on you, it must feel great to have that paid off!
    ReplyDelete
  6. WAY TO GO!!! Seriously. We just paid off all our credit card debt and it feels amazing so I know a little bit of what you are feeling.
    ReplyDelete
  7. Kevin! that's awesome!!! congratulations, you really don't have much debt left, keep up the good work.

    HS
    ReplyDelete
  8. I would not recomend getting a home equity loan to pay off other stuff. Then if you can not pay they can take your home! I would focus on the IRS debt and other small debts, after you have about $1000 in an emergency fund!
    It is so cool that you are morgtage debt free. That must feel so great!
    Have a great day! -Becky
    ReplyDelete
  9. That is great news. I can't wait until I can do the same. Did you increase your principle payments, do bi-weekly payments, or anything different to pay it off early?
    ReplyDelete
  10. Alisa -
    yes, the monthly payment was about $72 and I paid $75 most months. However, in the last few months, I was paying around $200 a month to get it out of my life.
    ReplyDelete
  11. Hi Kevin, What is the benefit of paying off a tax-deductible mortgage payment when you have 2 debts that are not tax-deductible that you are still working on?

    I would sure love to hear your thoughts!

    Working on being completely debt-free too!
    ReplyDelete
  12. Congratulations Kevin!!

    You are my hero!
    ReplyDelete
  13. Great job, I am in the process of paying off my debt. I purchase a program call got-guts putting my information in it was easy. But I struggle with staying with it. I should be debt free in 46 months. Since I’m self-employed, I have periods of time when I get a commission check. So whenever I get a commission check, I take whatever portion I can to pay down on my debt. Do you have any suggestions for me how you kept on track. Yea I want a miracle.
    ReplyDelete

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