Have any of you taken a mortgage on your house?

Yes of course I have a mortgage on my home. I'm a single mom, so this just means I needed to be absolutely sure that I bought a home that I could comfortably afford on the repayments. It also means that I spend my money wisely to make sure we always have enough. I won't ever go into foreclosure and I won't go broke because I make sure that paying for the roof over my daughter's head is my first priority. I don't have any 'bad debt', like credit cards or personal loans. I don't believe in them.

We actually had to refinance our Condo we are getting ready to put on the market about 5 yrs. ago. I ended up having some major health issues along with being a Diabetic and ended up in the Hospital and such for over 2 weeks, and on strong antibiotics for over 3 months. It was a challenge no one was ready for, but Thank god we at least got our home refinanced. Yes, now we got our home on the Market, and that is a Good thing for sure. Our places are to sell it when it can, and then move to something bigger. But thru this all we are now finding and learning New things about homes and loans for sure.

my mortgage is in good standing.. i actually have it on excellerator to speed up how fast its paid off and i plan on making extra payments now to help it get paid even quicker

You generally have to take out a mortgage in order to be able to afford to buy a house unless you're very rich so, yes, we have mortgages on all of our properties. The problem that we avoided, but that many others are dealing with right now, is that they took out adjustable rate mortgages which offered a very low interest rate at the beginning and which have now adjusted to a higher interest rate. That higher rate has caused the monthly mortgage payment to go up...sometimes double the original monthly payment on the house.

I for one am guilty of getting into bad debt. My credit cards are out of control and I have cut them up and put them away, all except 1 for emergencies. It is a hard lesson to learn, and I hope that through my example, my kids will learn and not get themselves into this mess. On the plus side though, I only have about 5 years to go on my mortgage and then my house will be paid off. I am worried about my job too, so I'm trying to send advance payments on my house instead of my cards so that in case I do find myself unemployed, the house is paid a few months in advance and I'll have a bit of time to do something.