More Than Half Of Mississippi Owner-Occupied Homes Are Paid Off
Plenty of Mississippi homeowners are sleeping much better at night as more than half of owner-occupied homes in the state are paid off, according to a recent report. This puts the state pretty high on the list of states with the most home-owners living without a mortgage, according to Mississippi Public Broadcasting.
The report cites Daisy Jenkins, a homeowner who purchased her home in 1963 when a mortgage could be as low as $32 a month. She believed in paying for something she wanted and revealed that she doesn't like moving.
Here we see a case of extra motivation to pay off your home with no desire to move again. However, according to Scott Spivey, executive director of the Mississippi Home Corporation, it is more affordable to purchase in Mississippi and creates generational wealth, according to MPB.
"Home ownership is the most common and easiset way to accumulate multi-generational wealth. What that does is increases financial security," said Spivey, according to MPB.
To learn more about why Mississippi is one of the leading states with the most home-owners living without a mortgage, click on the image above.