I remember it quite well. I think it was during my high school years, or perhaps early college. I can remember my dad being so excited because they were going to have a “Mortgage Burning Party!” Yep, it was a big damned deal back then. A fire was lit in the fireplace, this piece of paper was tossed in, and glasses were raised and toasts made to a bright future! I can remember that my parents had invited all of their closest friends to the house – warm congratulations bubbled all around!
Jump ahead about four decades. The last payment was made, and you’d think there’d be dancing in the streets and lots of hoopla! We even have a little portable fire pit on the patio just for such an event. Sounds like a great excuse for a celebration, no?
Except that it wasn’t…You see, in today’s digital age, funds were transferred electronically, and botta-bing, botta-boom – DONE! No final paperwork, no actual mortgage arrived in the mail to be served up with the kindling…nuttin’! Talk about anticlimactic! After years and years, it was just sort of over. And all we had to show for it was the knowledge that we are completely debt free. And there’s a feeling something like this: