Paid $2,000 Of My Mortgage Off
[ Thursday March 18th 2021 at 8:09 pm ]
I just took the next step in paying off my mortgage. I have just used more inheritance money to pay down the principal owing. I am quite glad about this. I am expecting to be able to pay off my mortgage this summer. It will be a relief to own the house outright. With the state of my leg joints I want the house paid for in full. Then it is one less thing to be concerned with. This will also help bring my cost of housing much closer to the 25% to 30% of income the banks use when assessing a mortgage.
The disability benefit I receive I receive from the Province of Ontario Canada requires that I prove $497 a month of actual housing expenses to receive the full benefit. The costs of utilities and property tax has been creeping up. I am at the threshold where the lack of a mortgage won't cause me to receive less money each month.
Having the house paid for in full is one less thing to think about while pursuing medical treatment. I always try to ensure my affairs are in order before more treatment. I won't be concerned during the recovery phase of whatever is next for my legs.