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What?
I've had three mortgages in my life. I paid them off, as I would with any other debt and now own my homes free and clear.
Are you saying that you don't get to choose your debt?
I'm confused here; your posted paranoid screed doesn't make sense.
What he's saying is check out goldline...they rock.
It always give me a chuckle when folks with a mortgage say they own their home. Amazing how when the mortgage isn't paid that it turns out to be nothing more than a glorified house rental.
I currently rent the house I live in.
since you rent, you can't sell your home for a profit, whereas folks with a mortgage can, if they try
i think the op is saying for everyone to pay like normal but to know the 'reality' of this n that. the 'reality', as defined by him/her, is we don't own anythign. well, i think the op is saying that
Then who owns the things that I have paid off? Does this mean when I collect rental income on those items I should be giving it to someone else? Who? I wouldnt want to be keeping money that doesnt belong to me..
It always give me a chuckle when folks with a mortgage say they own their home. Amazing how when the mortgage isn't paid that it turns out to be nothing more than a glorified house rental.
Clearly an individual who has a mortgage on a property still owns their home.. Do they not enjoy the benefits from it? Can they not rent it out, can they not live there, sleep there? Just because you owe someone else money and you have pledged your home as collateral, it doesnt mean you dont own it..
Then who owns the things that I have paid off? Does this mean when I collect rental income on those items I should be giving it to someone else? Who? I wouldnt want to be keeping money that doesnt belong to me..
Hmm. I guess I could have paid $180,000 cash for my house, if only I had that amount of cash on me. However, since I did not, I went to a mortgage lender and borrowed $140,000. I have a Warrenty Deed with Vendor's Lien. Once I pay off the mortgage, the lien will be removed.
True, if I default on the loan the lender will take steps to judicially foreclose on the house, removing title from my name and transferring title to the lender.
I do pay property taxes, which I happen to think are somewhat un-constitutional. One reason for the American Revolution is that colonist did not really 'own' their property, but held it 'at the sufferance of the King', meaning that, in theory, the King could appropriate your land (think King Henry VIII, who loved to take over a man's land and manor, like that Cardinal (Wosley, was it?).
Anyway, the Founders made it clear that a person should be able to own land that could not be taken by the King, or government (Fee Simple ownership). Note that I am not talking about a mortgage lien. I am talking about the government literally 'taking' land that you own, even if you owe not one dime.
Alas! State and local government entities needed a sure way to raise revenue, and property taxes were the answer. Remember, the property itself it taxed and is not cancelled out if the owner sells the property: the taxes always stay with the property (hence when you buy a house, you must check to see if there are any outstanding realty taxes). As my father once said, "land doesn't run away".
However, I recognize reality, and that my opinion concerning the constitutionality of property taxes means nothing (the issue has been litigated in many jurisdictions over the years, each time the court rules for the right of local governments to tax land).
I will add that property taxes are a way for a government to take over land. When Russia was taken over by the communist, they did not simply confiscate private property as many people believe. Rather, they immediately raised the property taxes to a level that people could not pay, hence the property would be taken by the government.
In the Confederate South, after the Civil War, property taxes were used by the Carpetbaggers to take over choice properties (recall Gone with the Wind? Margaret Mitchell, the daughter of a lawyer, knew her history).
I used to rent (apartment and houses). However, I did not like the lack of privacy (I hated to walk into my apartment and find the note left by the landlord saying he had been in the apartment to inspect something). It was nice if you had a good landlord (note the word 'landlord').
Anyway, I do own the house I live in, although there is a lien against it for the mortgage. My ownership is not absolute due to the lien (and due to property taxes). Yet, so long as I keep paying the lender back the money I freely borrowed, and pay the blasted property taxes, I have more rights to the property than anyone.
As long as we are being doom-and-gloom, you know the old saying.
"You only truly own what you can carry at a dead sprint"
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yknow i just had to look it up :)
