Mortgages

Many times I've heard people wanting to pay off their mortgages. Myself, I don't worry at all about paying off mine. Everyone either pays rent or mortgage, and I am grateful that mine is a mortgage rather than rent. I am also grateful that I was able to put a fairly good sized down payment on my home, and that I bought one that wasn't terribly high priced. Why? Because this means I have a very small mortgage payment to make each month. It is, in fact, much less than people in this area pay for a small one bedroom apartment. People renting a bachelor suite likely pay more rent per month than I do on my mortgage.

Mortgages have been a part of my life for over 20 years now. In the fall of 1985 I bought my first home. The bank I was dealing with refused my application for a mortgage, not because I didn't have a good credit rating and in fact they told me it was a very good credit rating, but the house I wanted was just under 1000 square feet, and they had just changed their rules and wouldn't finance anything that small. I went to a Credit Union and got my mortgage with no problem. In the spring of 1990, I sold that house and lived in my van with my dog (D-O-G) and my 2 cats (Smoothedge and Sushi) for four months until I finally found this home. I went back to the same place I'd gotten my first mortgage and 17 1/2 years later I am still living in the same home, still paying the mortgage. My mortgage is up for renewal again soon, maybe this fall, or next. Hmmmm.... I know it was for 5 years, though I don't quite remember the year it was when last I signed it. I'll have to look into that.

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