Why Payoff Your Mortgage?

Welcome to the Mortgage Payoff Club! We're a private club that's seriously weird about paying off our mortgage crazy early. Imagine a life without a mortgage payment!

We've even had EIGHT members already do it! Click here to request club membership.

Why payoff your mortgage? Freedom. I haven't had a car payment in 6 years and I REALLY love that feeling. Imaging that feeling but having a paid off house. That'd be bliss.

Why payoff your mortgage? Less stress. I'm freelance and the sole earner for my family of five. I've been blessed with working relatively constantly but that isn't guaranteed. Having a paid of mortgage would give me peace of mind and significantly reduce the worry that I have during the dry spells.

Why payoff your mortgage? Being completely an utterly DEBT FREE. Can you imagine not owing a cent to any bank?

People say it's pointless to payoff your mortgage as the rate is relatively low. (in our case it's 3.99%) That's still a lot of money going out the door that doesn't have to. Currently we pay around $900 in interest and dropping with each payment. That's money that I want for my own. Being in debt is also too much risk. Of course I don't want to pay off the mortgage and not have an emergency fund as money you put to pay off your mortgage is money that you can't really access anymore in case of an emergency. That being said paying down your mortgage as quickly as possible is definitely what I plan to do for all of the reasons above.

So this is why I started the Mortgage Payoff Club. Who's with me?


i was pretty fortunate to be employed during the last recession. I have a nagging fear that one day i may not be so lucky. Being debt free 100% is the only thing i can do to make the best of what could possibly be the worst situation.
It seems if your mortgage is paid off and you have a comfortable emergency fund you should be able to weather a pretty rough economic storm. That's one of our driving reasons: economic uncertainty. If things really went crazy and I was not able to earn the income I'm used to then I think I should always be able to at least work lower wage jobs (extreme example...) to be able to pay for food, taxes and insurance. I really respect Dave Ramsey and I always think of what he said: Debt is risk. No debt-no risk. I know there can be smaller risks with zero debt, it's not a risk-free proposition...but it's darn near close.

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