I was recently walking around my neighborhood, looking at homes and some of their Halloween decorations, when something caught my eye on several homes. I noticed several of my neighbors had a winged eagle ornament hanging above their front door or over their garage.
Of course, it is a great and powerful symbol of our country and patriotism. Still, I discovered it could have another meaning. After doing some research, I discovered that this may mean that the homeowners have paid off their mortgages.
The Eagle symbolizes freedom from future mortgage payments.
How did this start?
It seems it goes back about 70 years to when American soldiers returned from World War II. The G.I. Bill, signed In 1944, was a landmark piece of legislation. This bill provided veterans with funds for college and housing, significantly boosting homeownership rates in the post-war era.
As these veterans and non-veterans paid off their mortgages, they would hang American Eagle plaques above the front door or garage to signify that they were free from debt. These are often referred to as freedom flyers.
Although the tradition seems to have been lost over time, many homes, particularly older residences, still have them.
According to US census data from 2022, about 37% of homes in New Jersey are owned outright without a mortgage or home equity loan. This trend is also reflected nationally, where roughly a third of the homes are owned free and clear.
Can you hang an eagle above your front door? Will you display an eagle when you pay off your mortgage?