Mortgage-Burning Parties

November 2010 was special for Sharon and Tom Kellig of Lancaster. It was "mortgage-free month" — the month they celebrated paying off their 30-year mortgage by hosting a party for friends and family. The party was held at the most practical location they could think of — their house, of course.

"It was paid for, so why not use it?" Sharon said. "It wouldn't have made sense to rent a place for the party. We wanted to enjoy our accomplishment with our friends and families in our home."

While a person may have secured a 15- or 30-year mortgage, there are a multitude of reasons that may keep him or her from paying it off in that amount of time, according to Fairway mortgage consultant Megan Brunner.

Dan Ranck, a mortgage banker with Guaranteed Home Mortgage Co., has seen his number of mortgages get secured, but he has yet to see one get paid off.

"I know there is a small percentage of people who actually pay off their mortgage," Ranck said. "I have worked in the mortgage business for eight years and have yet to see someone do it."

"Of course, the economy has made it difficult to pay down mortgages as many people have less money in their pockets," Brunner said. "On the other side, the economy is the reason the interest rates have gone so low and have remained there for such an extended period of time."

The Kelligs, who have been married for 33 years, paid off their $102,000 mortgage in 27 years by paying a little extra each month.

"We knew it would save us money in the long run," Sharon said. "When you think about what you spend money on, it's actually very easy to put a little extra in the payment every month."

Brunner said that by paying even just a little toward the principal each payment, you can shave time off of the original mortgage's life.

Brunner gave the following as an example:

"If you have a mortgage of $170,000 at 4 percent for 30 years, your principal and interest payment is $811.61 per month. If you divide your payment by 12 (for 12 months) and round up to the nearest dollar, you have $68," Brunner said. "If you pay an extra $68 each month when you make your mortgage payment, your mortgage will payoff in 26 years and you will save $19,000 in payments. With mortgage rates so low, the benefit of paying extra is diminished as the cost of interest is already so low."

Currencies of the World

United States Debt Crisis

Okay so it's been rattling around in my head for a while, questions regarding the United States Debt problem and how could they let it come to this, how are they going to solve it, how can the debts be payed off without selling out the integrity of the nation, and more.

A plausible answer has come to me and I fear if it to be true. If it is reality I appologize for any jeopardy I might be instigating to the plan but the people running the show most definitely have securities in place against any risk to the plan that may arise.

The United States government has been in debt for years are the amount rises year after year with no end in sight. As foreign entities lend more and more money to the USA tacking on inflation rates and the monstrous total, penetrating the trillions how can this crisis possibly end in any other way than the entire nation being bought by which ever conglomerate of nations with the majority of loaned money. A century ago man tried to conquer nations through the means of force and military advancement, that did not work, so today conquest is acted out through fiscal superiority, who ever has the most money will take the world. Now back to by main point, how is the government going to get out of this? The answer is World War 3. I suspect the government has been using extensive resources to prepare for the final world war, building countless massive fallout shelters all over the United States, stocking them with many years of supplies and developing self sustaining technology such as energy, water and food that will be able to support millions of Americans safely underground until the radiation from the bombs has dispersed. Once every living thing on the planet has been wiped out, the inhabitants of the fallout shelters will be able to venture out, back into the world, unopposed, restoring the planet. And using the fallout shelters to house the planets foremost popular wildlife, they will be able to repopulate amongst themselves, unopposed as well.

So there you have it.

Two possible ending to the United States debt crisis.