How I Paid Off My Mortgage in 38 Days

Toy HouseYou’re probably expecting that I’ll reveal a “magic bullet” for paying off your mortgage fast. And I will. But it’s probably not the magic bullet you’re looking for.

The simplest way to get rid of your mortgage is to… sell your house. Use somebody else’s money or credit to pay off your mortgage.

This is what I recently did.

Why did I sell my house? First and foremost because I believe God told me to sell my house. I felt He would sell it in less than two weeks, despite the poor real estate market.

So we stepped out in faith and signed a contract to list the house on September 4, 2007. The house went on the market the next day.

Boom!

We were flooded with showings. We got 14 showings in 10 days. That’s a lot of showings, especially when you’ve got two young kids and your wife is eight months pregnant.

Anyway, immediately after the 14th showing on the 14th of September, we received an offer. The 14th of September was a Friday, so our negotiations weren’t completed until Monday, September 17th. That’s when we had a written contract instead of a mere offer.

Now, there are some interesting details here.

Based on Biblical numerology, the number 14 is the number of deliverance. So after the 14th showing on the 14th day of the month, God delivered us from our mortgage.

Furthermore, on his writing about the number 14, Ed Vallowe says it often appears with the number three. Fourteen is the number of deliverance or salvation, and three is the number of resurrection. Vallowe writes in Biblical Mathematics:

Israel was DELIVERED from the plague in Egypt on the FOURTEENTH day. THREE days later they passed through the Red Sea, where is a figure of RESURRECTION. Then they sang a song unto the Lord. In that song, they said, “The Lord is my strength and song, and He is become my SALVATION.” (pp. 108-109)

Interesting that we got the offer on the 14th of September, then the signed contract three days later on the 17th. (Seventeen is the number of victory.)

What’s more, we sold our house for $242,000. Fourteen times three is 42.

It gets better…

The person who bought our house is named Dorothy Sweet. The name Dorothy in Greek means “gift of God.” To sell our house, God literally sent us a “sweet gift of God.”

For now, my wife and I are renting a house and saving about $100 a month over what we were paying to own a home. The house we are currently in is about 30-40% bigger than our old house. This is because the rental market is depressed at the moment and it’s easy to get a lot for your money.

Now our rental is east of Jordan Road in relation to where our old house is located. God not only did all of the above, He also carried us across “the Jordan” to the Promised Land.

Isn’t God amazing?

If you’re tired of paying your mortgage (literally “a contract unto death”), then consider selling your house. You can save money renting and get more space at the same time.

Note: We closed the sale on our old house on October 12, 2007, which means we paid off the mortgage in 38 days from the date of listing. Hence the title of this post.

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15 thoughts on “How I Paid Off My Mortgage in 38 Days”

  1. So you’ve sold your house at a reasonable price and renting is working out better for you. Great, you should be happy, and I’m pleased for you.

    Your interesting details seem neither interesting nor significant to me, since the existence of some coincidences is extremely likely (such as the ones you describe). But each to their own.

  2. Thanks, Ben. And thank you, Plonkee. Renting is going well, although it is a bit strange since I’ve never rented before. I much prefer to own, but it’s better for us at this point.

  3. I don’t know….seems too much to be coincidence to me….

    Sometimes renting can be a very good thing. We’re renting at the moment, which is great, because I’m sure we’d be losing our home if we weren’t. Not to mention we’d be paying twice what we pay for rent if we had a mortgage, and that’s not even including stuff like taxes and more utilities!

  4. So, I am now very curious:

    How do you plan to use the extra $100 a month? Will that be put to “work” for your future?

    I ask because some people contend that owning a house (which you can “ideally” sell for profit in the future) would be one way of investing.

  5. Anitz – At this point, the $100 extra is being used to pay off debt. It is not being invested.

    In my opinion, a home is not a great investment in the current economy. People believe home prices always go up. But what if they go down?

    We had about $24,000 in equity in our home. If the market had dropped 3-5%, we would have been upside down. We would have had to pay money to sell our house.

    Of course, if you have more money in the property, you can ride out downturns. But if you have little in your property, a downturn in the market can wipe you out.

    Is a home a good investment if it wipes out what little equity you have? Clearly, no.

    In certain situations, it is better to sell the house, take the equity, rent a cheaper place, and invest your money elsewhere.

  6. I think in general owning a home in America is always going to be a bit more expensive than renting because of property taxes and maintenance. Of course, in some parts of the world there are no property taxes and houses are extremely cheap so it makes more sense to own. Anyway, I’m a happy renter.

  7. Anitz,

    Yes, in the past Americans (most of the time) have been able to buy a home, have it increase in value and sell it for more than they bought it for.

    I like Robert Kiyosaki (author of Rich Dad, Poor Dad), and his definition of an asset: Anything that puts cash in your pocket. A liability is anything that takes cash from your pocket.

    Even if your own your home free and clear, it’s still NOT an asset, because you’ll always pay property taxes, insurance and maintenance costs. In the book, Robert’s ‘Rich Dad’ told him: “If your house is your biggest asset, you’re in financial trouble.”

    Buying a house and hoping it’ll go up in value isn’t exactly a financial ‘skill.’ Realtors and the media always trumpet the phrase “Your home is an asset, and it’s always a great time to buy a house.”

    I don’t agree with that. Realtors are salespeople who make their living by selling homes. Almost none of them are savvy investors, or get the ‘big picture’ when it comes to economics and financial markets.

    I think we’re still a LONG ways away from seeing the bottom in the real estate market; lots of option ARM loans have yet to re-set, and inflation is a hidden tax eating away at American’s purchasing power. Lenders will have to tighten lending standards, meaning full asset and income documentation, and a larger down payment – at least 5, probably more like 10 to 20%.

    Unless someone can prove me wrong, this isn’t a bullish combination for real estate for the next few years.

  8. YOUR ONE IDIOT MOTHER FUKER… BELIEVE EVERYTHING IS HOLY… FUKING PRICKKK WAKE UP AND FACE THE REALITY. STOP SAYING YOUR RELIGION DONE THIS AND THAT… STOP BEING SUCH A FAGGOT… BE A MAN AND SAY IT HAPPENED COZ OF SOME ACTIONS YOU TOOK.

  9. @BoomBakalakMan – My religion didn’t do anything; God did.

    I know it’s hard to understand if you’re not a person of faith… my story may be even a little offensive… but I must speak the truth. And that is, God told us to sell our house. We stepped out in faith and God brought a buyer. He did it. We just happened to listen and obey to what God said.

    It would actually be easier to say I did this or I did that, that I’m the one creating these outcomes in my life. But I’m not the one doing it.

    Just know this: God loves you. Jesus loves you. He wants the best for you. And one way or another, you’ll come to know him for who He is. He truly is a God of love.

    http://www.secretevangel.com/love.html

    Ryan

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