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2 Bumps

S/O: If you are debt free or close, do you own your own home?

Or are you renting?

Answer Question
 
scout_mom

Asked by scout_mom at 11:18 AM on May. 19, 2011 in Money & Work

Level 41 (125,190 Credits)
Answers (12)
  • We own outright. We are debt free.
    Anonymous

    Answer by Anonymous at 11:22 AM on May. 19, 2011

  • Will be solvent within the next year, all but the mortgage.
    ObbyDobbie

    Answer by ObbyDobbie at 11:24 AM on May. 19, 2011

  • Congrats, anon! We are working toward that too.
    scout_mom

    Comment by scout_mom (original poster) at 11:24 AM on May. 19, 2011

  • we own , and such a relief not having that big payment anymore.
    momto4girzls

    Answer by momto4girzls at 11:40 AM on May. 19, 2011

  • We own our own home and it is paid for, we have about $12 in credit card debt (netflix gets billed once a month LOL), and we have never had an auto loan.

    That's for now anyway...we REALLY need to move this summer and we are going to take a major hit on the house we are going to sell. Bottom line is, we are outgrowing it. We are doing everything in our power to try to make sure all the expenses are covered without taking out a new mortgage, but we will see. I guess if it has to happen, it has to happen, and I want to get in somewhere our children will call "home" for the rest of their lives...so I suppose a few more years of having a mortgage would not be the end of the world. We would pay it off much faster than required though.
    Mom-2-3-Girlz

    Answer by Mom-2-3-Girlz at 11:42 AM on May. 19, 2011

  • We are renting. We have tried to own a home, but the down side of no debt is no credit... And we simply can't get anyone to give us a morgage because my DH (who has the larger income now) doesn't have ANY credit at all - the last place actually questioned if he was a citizen because he had no score established at all and he's in his 30's. But we've never had anything.
    SabrinaMBowen

    Answer by SabrinaMBowen at 11:52 AM on May. 19, 2011

  • We are debt free. So we are just putting extra towards our home to pay it off quicker.
    RelaxedMom2-3

    Answer by RelaxedMom2-3 at 12:29 PM on May. 19, 2011

  • We are debt free besides the house. We are working hard to remedy that situation though. We are pouring every spare penny into paying the principal of our mortgage and we are pretty sure we can be done with it in less than 3 years.
    slw123

    Answer by slw123 at 12:34 PM on May. 19, 2011

  • Scout_mom it is an amazing feeling.
    Anonymous

    Answer by Anonymous at 12:39 PM on May. 19, 2011

  • I rent. I posted about my feelings on home ownership the other day.

    "I am on my second marriage. After I got divorced the first time, we had to get rid of the house, etc., etc... I make no bones about it, I will not go through that stuff again. There are no certainties in life and I don't want to be tied down to anything. If the need arises that either one of us wants out, so be it, but I want to be able to pick up and take off. I don't want to be tied down to a house or anything else. That is also why I chose not to get involved with a man that already had a family. I'm not saying this is a good outlook, but it's me."
    m-avi

    Answer by m-avi at 12:42 PM on May. 19, 2011

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