Comments on: Second Biggest Homesteading Mistake

By: Lisa

Lisa — Fri, 11 Jun 2010 16:28:55 +0000

Amen to that! Until I got so far over my head in debt, I’d never given a mortgage a 2nd thought. Right now I’m rebuilding from my mortgage disaster by renting and saving. My next home may be a 40 year old single-wide trailer, but it’s going to be paid for FAST!

By: dogear6

dogear6 — Mon, 22 Mar 2010 01:51:58 +0000

Kendra – I know you are very frustrated right now, but a while ago I clicked on your post as to how you acquired this house and spent so much time fixing it up. It is highly desirable to be debt free, but you have a really nice little place that you paid minimal money for, put in a lot of sweat equity and it is very very nice. Enjoy it and your accomplishments.

By: Melissa

Melissa — Sun, 21 Mar 2010 04:00:05 +0000

Thank you SO much for posting this. No matter how much I (we?) know that debt is slavery, the things we can get through it appear so enticing that it’s blinding. It is such a humbling and ABSOLUTELY NECESSARY reminder what the cost truly is to go into debt. My husband and I bought a fixer-upper for $162,000 when we first got married (absolutely not what we truly wanted), and I still remember the horror of seeing the actual amount we will have paid at the end of our 30 year loan: over $350,000… for a piece of crap.

Debt is NOT necessary, and I only hope we can be strong enough to stand firm in that belief. Thank you so much again! I’ll be praying for relief of your enslavement both financially and emotionally.

By: Kendra at New Life On A Homestead

Kendra at New Life On A Homestead — Thu, 18 Mar 2010 13:42:57 +0000

Nancy- I don’t think I have enough room. We’re only on an acre, and the house takes up a lot of the space. I wish we could do something like that though!

By: Nancy

Nancy — Thu, 18 Mar 2010 05:55:04 +0000

Kendra, Have you thought of “renting” out parts of your property for others to Garden or keep a couple of hogs – you get to reap some of what they sow and the burden to take care of the property is somewhat lifted. Just a thought.

By: Tom

Tom — Wed, 17 Mar 2010 00:51:41 +0000

You are learning very fast. Mortgages are one of the ways this country has gotten itself into trouble. The banks allowed people to pay increasing more for houses that were not worth the cost. Why? The reason is that as the a houses went from $80K to $100K to $140K etc the banks would get increasing amount of interest revenue. Why did the government allow this to happen? The government then could collect higher taxes on the higher paid prices. People then had to make more money to pay on these debts, and thus more taxes. This is all collapsing now.

You are quite wise to not go into any more debt than you have to.