Living Mortgage Free – Honestly

Detail of "A handsome pair of shotgun houses on Myrtle Street, Old Louisville, KY" by "Censusdata" via Wikimedia CommonsWhat is it about mortgages that attracts such throngs of scammy, bad ideas?  I just had the displeasure of cruising through the underbelly of a website that purports to sell you the secrets of shedding your mortgage.*  The site is virtually incoherent, and suggests that you create a tremendously complicated series of business entities to, effectively, defraud the mortgage company of its rights under contract.

Do you want to know how to really live mortgage free?

  1. Don’t get a mortgage.
  2. Pay off your mortgage.

There ya go.  There’s no magic or legal maneuvering that will give you a house without a mortgage.  You can either buy a house with cash, or you can get a mortgage and pay it off.**

Honesty is the best policy.

*  No, I’m not linking to it!  Google the first three words in the title if you must.

** Granted you can also have a short sale or foreclosure – but I’m concentrating on the more desirable outcomes.

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