30 Year Home Mortgage Payoff!

By Joe Maurath, Jr.; posted September 30, 2008

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On September 1, 1978 at 12:01 AM history began for me. My sister and I were approved for a $26,000 (or so) mortgage and were jointly approved. Exactly thirty years later, this mortgage was paid off...without any disturbance to it (at 9 percent interest through all those years!) ...on August 29, 2008. Shown below is me on the left and South Shore Savings Bank CEO and President John C. Boucher (right).

In 1984 My sister (JoAnn) sold her equity to me and full transfer of this property was made to me at that time. My house was built around 1780 and I have restored much of it to its original, warm, old New England historic charm.

It was realized in later years that John and I were fellow graduates of 1969 Weymouth (MA) High School! Not that this had anything to do with my loan (originally from Weymouth Savings Bank). It is speculated that John B. had a lot to do with Senior Skip Day in May 1969. His plan indeed came to fruition...approximately half of our 800+ senior class skipped out and went elsewhere to "celebrate". I kinda didn't. I clearly recall walking in the front door of Weymouth HS and out the back that drizzly May morning to hook up with my cousin in pursuit of some abandoned olive CD 252 No.2 Cable's. We came home with a real bunch of them!!

Anyway, I thought I'd share some of this excitement with you folks.

As I learned as a 1974 Graduate of the Bentley School of Business and Accounting...historically business has had its cycles and has since the 1860s. Don't let the present economic turmoil upset you. Leave your investments as counselled. Acting too quickly in haste may have costly repercussions in the long run.

Anyway, if you made it this far, thanks for listening.

Sincerely,

Joe Maurath, Jr.

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