Quote:
Originally Posted by Spott
That's pretty sweet. I had a good amount of money in the bank and the housing prices had dropped over 60 percent, so I paid cash for a house that had been foreclosed on. The previous owner completely redid the entire interior of the house so I had very little work to do on it. Freeing myself up from that mortgage payment allowed me to pay off my other debts, including my car payment within a a year, and then I was able to really start saving some money.
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You will never regret paying off that house, The only possible way you could screw up is want for a bigger house and go into debt... Resist the urge.
i have a work buddy, we have been working together for 30 years between 2 jobs ... He is the kind of guy that still lives paycheck to paycheck, I have tried to help him but I think his wife thinks she is a Princess...
They have lost 2 homes to foreclosure and an Expedition with an 800 dollar a month payment that I know of... He had his wages garnished because he used to claim about 5 more dependents than he had (when you could do that). Then he would cuss every year because he had to pay taxes. His mother and father in law passed in the past couple of years and left them some money, He just bought a house at 53 with a 1100 dollar a month mortgage and I think he will lose that too, I hope not but I know him.
His wife is a stay home wife with no minor kids and she spends her days shopping and eating at the cheesecake factory or the likes .
They got a 14k insurance settlement and spent the money on 4 wheelers that they had to sell a year later for 20% of what they paid for them because they tore them all to hell.
I remember back in the 90's he would sell me one of his guns for money he needed then take the next 2 days off work.
It drives me nuts but I keep my mouth shut because its none of my business.