Dear Mortgage, The House is Mine!

Hey debt fighters! Today we get to share in a celebration as Steve Stewart writes a Dear Debt letter to his mortgage. Steve is a fellow debt hater turned Financial Coach over at SteveStewart.me and is about to launch a new podcast about how to have “No Debt, No Credit, and No Problems”.

Dear Mortgage,

I remember meeting you in September 1999. I thought I understood you and all your tricks. What I didn’t understand was what you would become when you matured: Part of the 5/1 ARM Club.

It wasn’t until 2003 that I woke up and learned what was going on. The 5/1 ARM Club was a temporary thing, a fad – wasn’t it? That’s why my wife and I worked so hard to convert you into something more traditional – a fixed rate mortgage. BTW: Thanks for losing rate! It helped a lot!

As I learned more and more about money, I realized your friends were thieves! The car loan and credit cards were stealing our wealth. It was too easy to swipe for anything I wanted without stopping to think if it was actually in our budget. And the car loan never made sense to me either. I was just so stupid back then and thought debt was the only way to buy a car. #dumb

You weren’t happy when we banished them from our lives, especially since it allowed us to pay cash for the kitchen remodel and new windows instead of getting you a life partner: the HELOC and I just couldn’t hit it off!

Now it’s time for us to say goodbye. I know you didn’t do anything wrong – you stayed predictable and dependable the entire time. But the house will be so much brighter without a cloud of debt hanging over it. You want the best for us, right?

What? Wait. Hold on…stop it…STOP IT! I won’t listen to your excuses anymore!

• No, we won’t keep you around for the mortgage interest deduction. That’s just bad math.
• Emergencies? Seriously, you don’t think we’ve thought of that already?
• Oh no you did NOT just throw the “You could borrow at low rates to invest for higher returns” argument at me! There will be more money to invest when my wife and I are the only stakeholders in the ownership of this house!

Look, nobody is blaming you – it’s me.

I think I told you: I’m a saver, not a debtor.

The house is mine

The doggone house is mine

Don’t waste your time

Because the doggone house is mine

Sincerely,

Steve Stewart

• Author
• Recent Posts

Melanie

Melanie Lockert is the founder of the blog and author of the book, Dear Debt. Through her blog, she chronicled her journey out of $81,000 in student loan debt. She is also the co-founder of the Lola Retreat, which helps bold women face their fears, own their dreams and figure out a plan to be in control of their finances. She is passionate about empowering women, helping others get out of debt, and focuses on the intersection of debt and mental health. Every September she organizes a Suicide Prevention Awareness Blog Tour, to help share resources for those struggling with debt and suicide. In addition to her love of personal finance, art and music, she is also a karaoke master and a cat mom to Miles and Thelonious.

Latest posts by Melanie (see all)

• Talking About Money and Mental Health - September 12, 2022
• Dear Debt, We’re Better Apart - June 27, 2022
• Announcing The Mental Health and Wealth Summit - May 4, 2021