[momof2]

My son introduced me to this forum, which is a little ironic. Although I've never really labeled myself a survivalist, I've always leaned heavily toward self-sufficiency. I've made it my business to know how to pull my family through lean times.

Recent world events and that feeling in the pit of my stomach that something big and bad is coming, have made my self-sufficiency more urgent, more like . . . survival.

I'm building my food stockpile larger. Shopping for a generator. Going to broach the subject of buying a gun with my husband.

However, I owe a little over $100,000 on my house. How does everyone think mortgaes will be impacted? Here I am making my home a fortress but I'm not sure if I should be working toward paying it off, gathering more supplies or selling and buying land/cabin free and clear.

Opinions?

 

[oldandcrotchety]

That depends more on your financial situation, I should think. My first choice would be to sell out and buy a place in the country free and clear, but I have the advantage of not having to depend on a job in town. If you and/or your husband have to go to a job every morning then that limits your options unless you could still work from wherever you move to. See, what would concern me most if I had a mortgage wouldn't be a total collapse, but rather a depression just severe enough to affect me to the point of not being able to make payments and lose the house. Then I'd be homeless. But if there was an absolute total collapse, then I imagine the financial institutions who could take your home would be gone too, plus if it was bad enough and affected enough people then having to physically remove people from their homes might prove an insurmountable task. Folks by the millions might just say "try and take my home". I have always hated having a mortgage hanging over my head and always have made it my first priority to get out from under it. The longest I've ever had a mortgage was 6 years, but then I've always bought what I could pay off quickly and not necessarily what I would really prefer. I can tell you, though, if you could sell out and buy a place in the country outright it would be a great feeling, knowing that no matter what happens otherwise at least you will have a roof over your head and room for a garden and some stock. Just my humble little hillbilly opinion.

 

[SiouxSquirrel]

We have been wrestling with the same questions. We live in an area where, although we have a modest house that doesn't cost much to run, house prices are very high and we do carry a large, nasty mortgage.

We are looking for land that we can have for a bug out place, and for the future, when we can leave this area for good. We are looking for a little bit of cheap land so we can pay it off quickly, in three years.

Our logic is that we can pour a ton of money into our house (which we don't want to stay in if things go bad) and make a dent in the mortgage, or pour our efforts, for a short time, into paying land off completely, so at least that will be free and clear within a very short time. Then if we have to, we can just let it sit until we are ready. Or we will have it to go to if we need it.

Does that make sense?

 

[Paulycracker]

The first thing people from the depression have said is to get rid of debt. I wouldn't be buying but either paying things off or down sizing first. My 2c.

 

[RamblinMan]

You wouldn't buy a place cash if you had the money? What would be your plan?

 

[Dwind]

My son introduced me to this forum, which is a little ironic. Although I've never really labeled myself a survivalist, I've always leaned heavily toward self-sufficiency. I've made it my business to know how to pull my family through lean times.

Recent world events and that feeling in the pit of my stomach that something big and bad is coming, have made my self-sufficiency more urgent, more like . . . survival.

I'm building my food stockpile larger. Shopping for a generator. Going to broach the subject of buying a gun with my husband.

However, I owe a little over $100,000 on my house. How does everyone think mortgaes will be impacted? Here I am making my home a fortress but I'm not sure if I should be working toward paying it off, gathering more supplies or selling and buying land/cabin free and clear.

Opinions?

Welcome. As Obi Wan would say- You've taken your first step into a larger world. I don't know the future- and the world of finance is about as lost on me as calculous is on Paris Hilton.

But I will say that buying preps is secondary to education in the world of surviving. Our intellects, before most humans became herd animals, is what set us apart from animals. Our ability to adapt to new conditions and adversity has allowed us not only to survive despite the lack of strength, fur, or claws, but to thrive on ever continent on earth.

Specificaly- read and learn everything you can about as much as you can. I'm not saying go out and take a course on diesel mechanics, but using the resources here in the form of informed posts and PDF files as well as YouTube videos can let you know how to do anything from know what vegetables thrive in low PH soil to how to clean and dress game to how to secure your house.

 

[TruthSeeker]

and the world of finance is about as lost on me as calculous is on Paris Hilton.

:rofl: Thanks! I needed that!

 

[TruthSeeker]

However, I owe a little over $100,000 on my house. How does everyone think mortgaes will be impacted? Here I am making my home a fortress but I'm not sure if I should be working toward paying it off, gathering more supplies or selling and buying land/cabin free and clear.

Opinions?

First of all, welcome!

Of course this is going to depend on your situation and what you think you can or can't do. But if this were me, I'd sell the house and buy something "rural" free and clear. That's what my husband and I are shooting for. Get rid of the debt, buy something free and clear, and be prepared to support ourselves and our family (and possibly some friends along the way.)

 

[zula]

:thumb:Well your asking the right questions.

1. Yes you do need to talk with husband about getting a couple of guns, and teaching everyone proper use( kids are never too young to respect a gun.)

2. Yes get more storable foods, and some heirloom seeds fore next summer.

3. Your going need a genenator if you stay in town or out in the hills. Just a thought.:

 

[unkle sam]

Hey arch, feel the same way u do. Ya might want to shop different stores maybe diff towns too ya dont want anybody knowin ya have a pile of supplies around.-Unkle Sam:thumb:

 

[momof2]

Well, the gun discussion went a lot better than anticipated. We are now the proud owners of a 12 gauge shotgun. Going next week to learn to shoot. How does one come to be left-handed but right eyed dominant?:xeye:

Next issue (as increasing food stockpile is ongoing): how do I determine what kind/size generator I need?

Thanks for all your replies.
Mom

 

[dayliterun]

trying to pay everything down/off here too..come oct 6th, I have to take off work to forclose on 6 acres i sold that the guy skipped out on. I was banking on that $$ to get right and out of debt, except for my mortgage and was going to double up on payments to get it paid off over the next couple years and increase preps.

 

[jaygriff]

welcome momof2
first thing don't panic, there is still time to get in some decent preps. the world won,t end tomorrow.
My best bit of advice is buy some land if you can. Once you have that you can if need be support you and your family. Next read as much as you can about being self sufficient and try to put what you have learnt into practice. Remember all the time to try to reduce your debt levels.
This site is a great resource with in my opinion a bunch of great people all striving to live life the right way. Enjoy and don't be scared to ask questions thats how we all learn.