Monday, October 6, 2008


I hate debt. Even with everything paid for there are those irritating monthly line items that constitute basic cost of living expenses for those who do not live off grid and grow and make everything.

The largest debt I carry is a mortgage. I have an unspoken rule that I would not buy anything that I could not afford to pay for in 15 years or less. In reality, I've never taken longer than 7 years to pay for anything.

My first meeting with a mortgage representative was what got me onto what I would consider an extreme line of debt repayment. She assumed I would want a 25 year amortization and made it feel like there was no choice with respect to modifying lengths. So, I did not sign on the dotted line until I did more research and got what I wanted. Most people know that with a longer amortization, you are paying for the property 2 - 3 times over. I was not a real estate speculator. This was to be my home and I did not wish to be senior citizen by the time I hosted my mortgage burning party.

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