Then, of course, he died on New Year's Day.
Immediately after his death I started having issues with my mom, and that's been almost equally as stressful as losing him. Last week I had a long overdue talk with my aunt (dad's sister) about some of the family issues that have been going on both before and since dad died.
During that phone call with my aunt, she said she was going the next day to close out my dad's trust/inheritance account and would be sending me a check for what was left in it the next day. The check arrived two days later, and to my amazement it was exactly enough to pay off the mortgage on my house. I couldn't believe it. I still barely believe it. It's been terribly exciting.
Yesterday I went to a local branch of the bank that holds the mortgage loan and got a payoff quote for the house. I also went and deposited the inheritance check in the bank. After the seven-business day hold my bank places on large deposits, I'll be sending a wire transfer to pay off my mortgage. On February 1st we'll own our home free and clear.
Six weeks ago, I didn't have a clue any of this was coming. It's strange and sad and exciting and bewildering all at once.
All banks use holds for large sums, even if it's a transfer from one bank to another. Owning your home free and clear is one of the greatest feelings, enjoy it. You now own a very valuable asset!
ReplyDeleteYes, and we bought our house five years ago right before prices rose sharply (whew!) and have already done major improvements (new roof, new HVAC). The value of our home has risen over 40% since we bought it, and now we'll own it free and clear. It's peace of mind, that's for sure.
DeleteYou have been through so very, very much these last few weeks. It's crazy. Maybe if there's a tiny bit left of that inheritance, you and Gregg could go spend a few days at the beach to just sort of sit and digest all that has happened? Even if it's cold and windy, just looking at the ocean has always worked for me as a way to gain perspective and peace.
ReplyDeleteWe've been thinking about going to either the Outer Banks or else Beaufort, SC for a long weekend this summer. I love sitting at the computer and looking at vacation cottages and planning! I have a week off coming up next month (winter intercession) and I think a couple of day trips may be in order.
DeleteLiving debt free is great. I'm very happy for you and Gregg. Living comfortably with some funds to spare is the ideal. You've had a lot happen in a very short span of time. Getting away to have some R&R would be lovely.
ReplyDeleteI'm thinking a couple of day trips right now would be good. Walking and hiking in state parks, maybe. :)
DeleteWhen my dad passed, I was able to pay off my mortgage and even retire a little earlier. Not sure which was the bigger joy?! It is a great feeling having your home paid for. I used to worry about that...a lot! Congratulations! Yes, getting away for a bit would be a most worthy endeavor. Condolences of losing your father.
ReplyDeleteParanormal John
We'll probably wait until the summer to plan a trip. Our anniversary is in June and that would be two great things to celebrate with a few days away! :)
DeleteThat's great news, even though the reason for it is very sad. Being debt-free will reduce any stress to near zero. Good for you!
ReplyDeleteThanks Cro! We're rejoicing at the thought of the financial stability it will give us, and some freedom to do things we couldn't have afforded to, otherwise.
DeleteYou've really been having a lot to deal with, and BIG stuff as well.
ReplyDeleteThe 1st of February will be a day of celebration!
Really owning your home must feel great - I have yet to arrive at that stage :-) Of course I could pay off some of my mortgage, but the way things are in my country, it makes more sense just to keep the monthly rates going; they are so low I really don't "feel" them (which was one reason for establishing them this way in the first place when I bought this flat in 2003).
If we'd continued paying our mortgage for the 10 years still left, we'd have spent an enormous amount of money on interest. Saving 10 years of interest payments will also make a BIG difference!
DeleteLife and time has a strange way of surprising us sometimes. So much has happened for you in such a short time. Give yourself time to adjust to all of it, both the good and the bad. Once your house is paid off you and Gregg should celebrate!
ReplyDeleteWe will celebrate! Thank you Bonnie! :)
DeleteWhat an amazing gift. This will completely change your lives. May 2024 be a much better year all around.
ReplyDeleteI'm hoping so, Mitchell! Thanks. :)
DeleteSome good seems to come from almost anywhere.
ReplyDeleteSilver linings and all that, I suppose.
DeleteI am always amazed at how a human brain can hold and/or process so many feelings at one time. Sorrow and relief, sadness and anger, gratitude and annoyance - all of these can co-exist in our brain. I read somewhere, that at the molecular level, we are all composed of opposites - it's the "glue" that keeps us all alive. Such as positive and negative magnetic poles keep the earth in its orbit. From the most massive, to the invisible - opposites abound. As humans, we can appreciate these truths, and learn to live within them.
ReplyDeleteI'll have to think about this more, but it feels like truth. Thank you.
DeletePerhaps your father didn't fully realise but he left you a wonderful gift. To live rent-free or mortgage-free is liberating. Of course, it means you can now be less anxious about Gregg's future situation with regard to work. Good old Dad!
ReplyDeleteLiberating is the right word! Gregg had already been thinking about partially retiring this year, and so now that's almost a certainty. With a paid for home we'll have a lot more choices and freedom in many ways.
DeleteYou should have a mortgage-burning party on your freedom day!
ReplyDeleteThere may be dancing! LOL
DeleteWhat a great gift and what great use for it.
ReplyDeleteA weight lifted off your shoulders for sure.
Paying off the mortgage was a no-brainer! We'll sleep a little easier to know we have zero debt!
DeleteI'm so glad for you and Gregg, Jennifer. That will be a wonderful day to celebrate!
ReplyDeleteWe're really excited. It will call for a good bottle of champagne!
DeleteJennifer, you sure have had a rough month. I am happy for you that you no longer have a mortgage to worry about. That means $$ for other things! You deserve it.
ReplyDeleteThank you so much Michael! I'm also glad to read about your recent good news!
DeleteI've been incommunicado all month, so just got caught up with your blog. I'm sorry for the loss of your father. It's always so hard to lose someone, and death of a parent is a big loss. I'm also sorry your mother has behaved badly. Hopefully when she has time to process the grief she will understand the money was from your grandparents, and that she was never legally or morally entitled to it. If not, I think you are wise to keep your distance. Having the mortgage paid off will be a game changer for you and Gregg. I'm glad you had wise and thoughtful grandparents.
ReplyDeleteWell, my mother has quit behaving so badly for the time being, at least. We're not communicating much, but it's been relatively polite when we do.
DeleteI really am happy for you. Paying off a house is an amazing feeling.
ReplyDeleteI am also sad for you. You've lost both your parents, it seems.
It's a real spectrum of feelings these days.
DeleteI had mostly lost both of my parents long before this, Debby. For various reasons I haven't been close to either of them for years now. That's been making me sad for a long time.
That is great news Jennifer.
ReplyDeleteThe financial security it gives us will be life-changing. Thank you Rachel.
DeleteA terrible loss has led to a great gain. What a kindness from your father.
ReplyDeleteLove,
Janie
Thanks for being here, Janie.
DeleteWhat a wonderful gift from your Father. I am also so sad for the lost of your father but he wanted this for you.
ReplyDeleteI'm sad my dad is gone, but happy about the house. It's all just a big mix of emotions these days.
DeleteHow exciting! It will feel great to be able to simply save your money (or spend it!) without having to pay a mortgage.
ReplyDeleteBTW, I could have sworn I commented on this post a few days ago. Am I going to spam?
I checked, and no, you're not in spam. Thanks for coming back by!
DeleteI’m so pleased for you xx
ReplyDelete