Debt Free, Debt Reduction, Family

Great News – My Parents Are Debt Free!

I have some awesome news that I want to share with you  guys.

My parents are debt free!

I just got off the phone with my Dad, and he was so excited.  For more than two years, my Dad has been focused on paying off his mortgage.  Month after month, he made his regular payments, and then used every, extra available dollar to reduce his principal.  Today, he was able to walk into his credit union, hand them a check, and pay off his mortgage!

I cannot explain to you how happy I am for my Mom and my Dad.  I asked Dad for permission to write a bit about their story, and he was happy to share with you guys.  Basically, after reading some of the articles here at No Credit Needed, Dad decided to get out of debt and pay off his mortgage.  After just a few months, he was able to rid himself of his consumer debt, and then he began to focus on ridding himself of a mortgage payment.  Through hard work, sacrifice, and determination, he paid off a 15 year note in less than 7 years, with the majority of the payments coming in the past 2 years!  How cool is that?!?

I love it when I hear about people who are debt free, even people that I don’t know.  Can you imagine how cool it is for me to hear that my parents are debt free?  I’m very close to my Mom and my Dad and I can’t wait to see what their debt free future holds for them.

For those thinking about debt reduction, consider reading – Debt Reduction 101 – and begin your journey towards being debt free.

Mom and Dad – you rock!

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10 thoughts on “Great News – My Parents Are Debt Free!

  1. Congrats, Mr and Mrs NCN! I can’t wait for that feeling as the mortgage is the last piece of debt we have. It will take us a little longer than two years, but I would love it to be under 10!

    Awesome job.

  2. Now that’s what I a call giving back to your parents. The child teaches the parent, coming full circle.

    Congrats, Mr. and Mrs. Parents of NCN. Mortgage free must feel nice!

  3. Isn’t it great to be part of motivating and helping them? Not only have you gotten to witness it, but you can rest in the fact that all your hard work and financial focus helped motivate your parents to reach this awesome milestone!

    Congrats to all of you.

  4. Wow! That is great! Now their housing is paid off during their golden years. It’s terrific you can be an example for your dad! 🙂

  5. In some ways, it’s better than you being debt free. I really really wish my parents would choose this way of life.

  6. That’s terrific! Hip hip hurraaaaaaaaaay for mom and dad and for an inspirational son! Well done.

  7. Great news and congratulations to you and your parents. I know I’m several years away from this but it’s comforting to know that I’m on that path… that I am conciously trending in that direction!

    Thanks!
    Dave

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