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I don't know about a "city clerk", but it's generally the "County Clerk's" office which handles the filing of the "Release" in the record books. A "Release" is an official document that certifies that the "Lien" on your property has been satisfied/paid. It can often take several weeks for the bank or mortgage company to get around to sending in the Release.
I too paid off my house in August. Huge sense of relief and accomplishment. Paid the place in 9 years.
We're currently waiting for a year or two and upgrade.
Congratulations. Paying off the mortgage is one of the cornerstones of achieving financial freedom, if not the main one. It's been exactly 1 year since I paid off our house within 5 yrs and I'm now focused on getting the kids through college debt free.
I am so glad to have mine paid off, and feel at ease hiring somebody else to do the yard maintenance. I probably would feel compelled to spend my time (and money and maintenance hassle) with a mower otherwise. My weekends are not spent mowing... booyah!!!
Paying off your house is such a key pillar of personal stability. It's much easier to consider retiring early, or starting your own business, when you don't have to cover a mortgage. It is so much easier to cover unexpected expenses (auto repair, medical bills, assisting relatives) when that additional mortgage cash STAYS in YOUR hands each month, to potentially use for other purposes.
I paid off my 30 year mortgage 6 years early. I got a promotion at work and took that extra money and started paying extra towards the principal each month until I finally paid it off. I feel a huge sense of accomplishment!!
Making extra principal payments is a great move, and "easier" than most people think. I pay half my monthly mortgage every two weeks, which results in a couple of extra principal payments every year. Pretty painless!
I paid off my 30 year mortgage 6 years early. I got a promotion at work and took that extra money and started paying extra towards the principal each month until I finally paid it off. I feel a huge sense of accomplishment!!
This IS a huge accomplishment! Congrats!
Having that black cloud over your shoulders every day/week/month/year gets really old. It's so nice to have that burden lifted.
Making extra principal payments is a great move, and "easier" than most people think. I pay half my monthly mortgage every two weeks, which results in a couple of extra principal payments every year. Pretty painless!
Never figured out why someone would pay every two weeks instead of either just making one extra payment toward principal per year or adding 1/12th of the principal and interest to each months payment. Do you do this through a third party or directly through your lender?
FYI-you are making ONE extra payment toward principal each year by making your payment every two weeks.
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