Family of 8 pays off 30-year mortgage in just over 8 years

Community

PANAMA CITY, Fla. (WMBB) — One local family is celebrating at their home in Panama City Sunday as their house is completely paid off.

Their 30-year mortgage has been paid off in just over 8 years. They say it was a family affair.

The Dixon family is made up of 8 siblings. Their home in Panama City is mainly used as a vacation spot but also has other purposes.

“If someone falls on hard times, you have a place to come rent-free, no worries until you can get on your feet,” said sibling, Diann Bryant.

The house was originally built as a way to honor their parents and continue their legacy in Panama City. An idea that began almost nine years ago. The siblings set their eyes on paying off the family-shared home completely.

“All eight of us were pulling in the same direction, which made it a lot easier and I think a testament to what our parents taught us. Diligence, working together and family,” said sibling, Cathy Dixon.

After renegotiating their mortgage agreement and upping the payments, all eight siblings contributed what they could.

“None of us knew what the other person contributed to this. No one ever asked a question. We just contributed what we could. We were prepared to contribute what we could for as long as we had to,” said sibling, Don Dixon.

It is an accomplishment for anyone to pay off their home, but the fact that it was a family effort the Dixons say, made it all the more special.

“Family is what it’s all about. That’s the only thing that’s really special about it. Is that we did it, but we did it as a family– we did it as an 8 member family,” said Don Dixon.

Brother Roy Dixon says it unified them in a sense.

“We’re proud that we could do it, and to pull eight siblings together. We can’t even agree with what to cook. But to pull eight siblings together on this kind of a deal, I think it’s fantastic, beyond fantastic to me,” said sibling Roy Dixon.

Many of the siblings now say they are excited to have the extra money they would normally be spending on payments.

“This is very special to me. I am excited, I’m happy, it’s done. Now I can save a little extra for retirement. But that’s excellent and I’m happy,” said sibling Gayle Dixon Humes.

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