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Any mortgage you have is only the illusion that you "own a home"
You own nothing!!! Stop making those payments and you will see soon what you really own and even if you paid of your mortgage see what happens if you stop paying the property taxes.
Mortgages are created to be long lasting debt in the hopes that some day the bank doesn't take its house back.
Banks take your money, and then in return charge you fees to have your money in their bank and use their services.
To sum this up when the economic crisis really hits do you really think you will own anything.
You might own the car if your lucky and the clothes on your back.
If you have gold hold on to it it might be the only thing that will have any value.
Any mortgage you have is only the illusion that you "own a home"
You own nothing!!! Stop making those payments and you will see soon what you really own and even if you paid of your mortgage see what happens if you stop paying the property taxes.
high property taxes certainly can make a person feel like they own nothing
I'll keep paying my mortgage payments, you do what you plan.. Let me know how that works out...
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
Any mortgage you have is only the illusion that you "own a home"
You own nothing!!! Stop making those payments and you will see soon what you really own and even if you paid of your mortgage see what happens if you stop paying the property taxes.
I have no mortgage and I payed off my car long ago.
A lot of people are debt free.
I would assume most people who took out a mortgage on their house realize that the bank owns their home not them. Same as a car.
I always try to keep a car for atleast 10 years-thanks Clarke Howard!
I can't stand to be in debt-I still ow about 5k on a student loan but that's it.
Well of course if one has a mortgage on their home they don't truly own it -- yet. It's like putting something on layaway at KMart, only for a hell of a lot more money and a lot longer than 30 days.
It's not like this is a secret - who didn't know this?
It makes me wonder what mortgages in the future will be like...
If the population continues to increase, so will home prices in the long run. And since a matching increase in average income is unlikely, banks will have to get even more creative in their lending if they want to stay in business.
How about a lifetime mortgage? 1 low monthly payment for the right to use a property, just sign on the dotted line and pay until you die?
There's some areas with no property taxes still. Buy some land for cash there, and build your own home from scratch debt free.
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