A Boston area man submitted 62,000 pennies to make his last mortgage payment on a home he and his wife purchased in 1977. Here is a to the article link.
My first thought is kudos to him and his wife, they have their home paid off before retirement. But, my second thought is why did it take them 35 years to pay off their home. Most mortgages, especially ones obtained in the 1970s were no longer than 30 years. Which means they probably at some point refinanced their home without reducing the term. And my third thought is, I wonder how much they paid in interest over the 35 years. Surely there is something wrong with me or I've been spending too much time trying to figure out if we should refinance our primary home and whether we can get a 3 something interest rate.