If we pay our entire house off, not only will we NOT have any more mortgage debt to pay off every month, but we’ll also have a nice stash of cash if we ever sell! Dannnnnnng, never thought about that before! Haha… how dense am I? ;)
What that means is just insane to me. Not only would we not have to work as hard, or as much?, but if we were to ever sell and go back to renting (key part there), we’d gain $XXX thousands of dollars right into the ol’ bank account again! AWESOME!!! So pretty much every dollar that goes to the mortgage, minus the underwater part – a cool $60-$70k at the moment for us – will get funneled right back out to us later. That’s pretty neat.
I don’t think it changes anything as far as my main goal of wiping it all out or anything, but it’s a huge perk to look forward to once that gorgeous day eventually hits. And could very well cure me of my wishing to rent once and for all! Haha.. imagine that?
So yeah, that’s all I got for you today on that. I just couldn’t believe I hadn’t thought about it before, and just had to share my revelation with y’all ASAP. It still sucks maintaining the house and what not, but maybe *that’s* why everyone dreams of owning so much? Cuz it’s like sitting on a big pile of cash once it’s paid off?
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!