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Mortgage - Debt?
sheryldoc
Posts: 576 Forumite
I dont have a mortgage at the moment.. but I was wondering If I did have.. would I count it towards my "Debt Total" or would I jst see it as something I have to have?
Jst wondered what other thought when it came to their mortgage?
Jst wondered what other thought when it came to their mortgage?
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Comments
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Its something you have to have unless you own your home outright or live with your parents.Barclaycard 3800
Nothing to do but hibernate till spring
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do you count rent as a debt?0
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Hi
Mortgage is a debt - you borrow the money - it has to be paid back with interest.
Rent isn't a debt - it is a liability - as are your other utility bills.
Hope this helps.An economic forecaster is like a cross-eyed javelin thrower : they don't win many accuracy contests, but they certainly keep the crowd's attention !:rotfl:
Money may not buy happiness - but misery comes free with debt.:o0 -
bikerqueen wrote:do you count rent as a debt?
No.. I count it as an essential outgoing.. I think id consider my morgage the same..
If i was to add up my total debt for myself.. I wouldnt inc my mortgage I dnt think..
The reason I mentioned it is.. some people have in their sig.. total debt 65k.. so I guess they inc their mortgage.. and I jst thought.. I wouldnt inc my mortage in that amount ..x0 -
I counted my mortgage as debt. As soon as I got it I was obsessed with paying it off! Now paid off and I felt relieved when it was.0
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I don't count mine. I see it as an essential part of life that has to be paid for.0
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id maybe consider focusing on my mortgage AFTER rest of mine had been paid of.. bcoz seeing a figure of 60,70,80+ k would jst be too daunting for me!
Then if all I had left was my mortgage.. and I was in the routine of paying debt.. id focus on that..x0 -
sheryldoc wrote:id maybe consider focusing on my mortgage AFTER rest of mine had been paid of.. bcoz seeing a figure of 60,70,80+ k would jst be too daunting for me!
Then if all I had left was my mortgage.. and I was in the routine of paying debt.. id focus on that..x
Thats my plan to Sheryl! I'm lucky to have bought my flat before the prices went totally mental, and when i see the amount I am putting towards my loans at the moment, if i was able to divert that all into overpaying my mortgage once my loans were repaid...0 -
must admit dont count it as a debt. as it is part of life..if youwant a house you have a mortgage.. wish it was smaller monthly paymnent though
'Children are not things to be moulded, but are people to be unfolded'0 -
my mortgate is going to be cheaper than what i pay on rent when the day finaly comes around... so not realy going to consider it a debt more of a saving.0
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