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Forum » Reminder: if you are paying a mortgage, you dont "own the house"
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Thread: Reminder: if you are paying a mortgage, you dont "own the house"

post 1652519953 12-14-2021, 09:39 AM
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Originally Posted By Wyzz⏩
Lol @ rentcel cope.

The concept of equity does not exist for them.

You don’t get a mortgage to own a “home”.

You do it so that you’re not throwing your money away and building someone else equity
This, and when you become an oldcel you can just sit there collecting 401k/RRSP, instead of giving it to someone half your age to live there.
Originally Posted By ymer⏩
Why do banks loan you the money instead of buying the homes themselves and build infinite equity?
Lots of banks don't want to be in the business of becoming landlords and dealing with houses.
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post 1652520443 12-14-2021, 09:45 AM
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Lol who buys real estate with loans these days?

Straight cash no appraisals no contingencies

Get some
Originally Posted By Anachron⏩
Reminder : if you are renting, you are paying someone else's mortgage.

And their property taxes, their insurance, the bills and a bit of profit on top of it as well.
You forgot to mention the annual landlord gift

https://www.news.com.au/finance/real...7ad148f0adf2e4

If you can’t afford a gift apparently it’s ok to send your wife or daughter or both
post 1652521053 12-14-2021, 09:54 AM
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Originally Posted By WoofieNugget⏩
Home owners also pay about double the cost of the home over time in property taxes and interest. So when you have a $500k house free and clear you actually probably paid about $1 million to own it.

What home owners don't want to hear is that if you rent and invest the difference versus buying outright (especially in today's market) after twenty years it's about break even in terms of assets at the end of that time. Obviously with people who buy and rent out as landlords then it's a whole different story and it depends on the city. Right now in my city it makes zero financial sense to overpay to buy instead of renting.
You are literally retarded if you think you aren't paying someone else's property taxes and interest in addition to their mortgage when you rent from them. You are paying everything the homeowner pays plus profit to them when you are renting.
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post 1652531763 12-14-2021, 12:51 PM
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You’ve got a point op




Except for the about $100,000 appreciation in value over the last two years, I definitely own that



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post 1652532243 12-14-2021, 12:58 PM
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Everyone ITT is arguing without logic. OP only stated that if you must make payments to a lien holder on your property, it isn’t yours. He didn’t mention renting, or other living situations. Everyone took it personally and replied like a hurt woman.

Mortgagecel checking in.
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post 1652537733 12-14-2021, 02:25 PM
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Originally Posted By Kawhilights⏩
Everyone ITT is arguing without logic. OP only stated that if you must make payments to a lien holder on your property, it isn’t yours. He didn’t mention renting, or other living situations. Everyone took it personally and replied like a hurt woman.

Mortgagecel checking in.
You still own the property. You've simply put it up as collateral to secure debt. You make payments on the loan that was given to you and yes, if you fail to make your payments they may have the right to seize the collateral you put up to guarantee the debt.
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post 1652538003 12-14-2021, 02:27 PM
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You don't own anything in 2021. Hell, its illegal to live off grid on "public land" and you can't subsistence hunt without a license. You literally can't legally remove yourself from society and live as a free man.

Don't kill the king's dear, peasant.
post 1652593083 12-15-2021, 12:17 PM
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Originally Posted By Anachron⏩
Reminder : if you are renting, you are paying someone else's mortgage.

And their property taxes, their insurance, the bills and a bit of profit on top of it as well.
I love how when someone points out the truth regardinf the fact thatif youre paying a mortgage, you dont own your home yetpeople get defensive lol. Just say you have a mortgage dude. No need to lie and say you own your home
post 1652593153 12-15-2021, 12:18 PM
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Originally Posted By BrianDaMan⏩
did u know you can sell it and you get to keep the equity/increase in market value, even if you havent fully paid it off?
Yes i did. But why say you own the home when you dont own it yet?

So many defensive replies in this thread. Those are signs of cope
post 1652593413 12-15-2021, 12:21 PM
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Originally Posted By Retoaded⏩
OP is renting a house from a guy who owns a house who if he doesn't pay his mortgage then OP gets kicked out of the house.

OP can pay his rent on time and still get kicked out of the house. LOL at rentcels.
Im not renting a house though lol what a cope reply

Im talking aboutsaying you own it when you dont own it yet

So many rustled jimmies ITT
post 1652594373 12-15-2021, 12:32 PM
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I made £60k profit from my house in 4 years then I sold it and got a bigger house with the deposit and 25k for myself.

Feelsgoodman.
WRB :)

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post 1652595323 12-15-2021, 12:44 PM
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I am a rentcel, but you are factually incorrect.

You own the home and the bank has a lein on the home.

BRB OP thinks if you buy lunch with a credit card the bank owns the lunch lmfao
post 1652596343 12-15-2021, 12:59 PM
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Originally Posted By Anachron⏩
The bolded is just a strong assumption - how do you know I don't own my home?

Looking at your barrage of replies ITT, it's clear to see who is rustled - and that's you.

Hey, look on the bright side - you get two weeks to make sure you pay your rent on time!
"OMG, you're so RuStLeD! CoPe!"

- the guy who came in and spammed a string of replies all saying the same thing about a concept he clearly doesn't understand.

lol, sad.
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post 1652596503 12-15-2021, 01:02 PM
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Originally Posted By soaponarope1⏩
You don't own anything in 2021. Hell, its illegal to live off grid on "public land" and you can't subsistence hunt without a license. You literally can't legally remove yourself from society and live as a free man.

Don't kill the king's deer, peasant.
This is the only true form of freedom.
There are plenty of areas in America where one could live without bumping into others.
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post 1652597323 12-15-2021, 01:17 PM
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What would Sommi say ?
post 1652597693 12-15-2021, 01:23 PM
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lol housecels mad theyre renting from the bank. except the bank doesn't even trim your lawn or fix your pipes for you. lmao.
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post 1652597823 12-15-2021, 01:25 PM
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Originally Posted By Archangel_Lost⏩
lol housecels mad theyre renting from the bank. except the bank doesn't even trim your lawn or fix your pipes for you. lmao.
and renters are renting from ownercels who are renting from the bank. riddle me where that puts the renter on the food chain, batman.
post 1652598043 12-15-2021, 01:28 PM
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Even when you "own" your house you don't own your house. When the government wants your house they'll take it and you'll be happy they gave you some money for it.
post 1652599353 12-15-2021, 01:50 PM
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I gave the previous owner a check for the full price. I happened to borrow a couple hundred k that morning.
If you buy your groceries with a credit card you don't own the food?
post 1652599533 12-15-2021, 01:53 PM
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Originally Posted By eternalnoob⏩
Rentcel cope thread
This^^^

Enjoy your 350 square foot $3.50k month apartment op.
I loe e.
post 1652599583 12-15-2021, 01:55 PM
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Today on things rentcels say to cope

Lmao
post 1652613923 12-15-2021, 06:01 PM
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Originally Posted By BuckNakedinBama⏩
When I decide to leave my current residence, I will walk away with over $100k.

When you decide to leave your residence, you will walk away with nothing.

Keep paying your landlord's mortgage and helping him build generational wealth for his family while you fail to do the same.
This is exactly the kind of defensive reply OP was talking about. Nowhere in the OP did it say a mortgage was stupid or a bad decision. It just said you don't OWN the house. Why does this statement make you triggered and feel the need to defend your decision? Obviously it's true, if you own something you don't get it taken from you for missing payments on it. You don't even make payments on it. I don't make payments on my shoes cuz they're mine
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post 1652614023 12-15-2021, 06:03 PM
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Originally Posted By IPoopStandingUp⏩
I gave the previous owner a check for the full price. I happened to borrow a couple hundred k that morning.
If you buy your groceries with a credit card you don't own the food?
Very clever, but the food isn't collateral. If you happen to miss a couple payments, the bank will happen to take back their house which you pay them for the privilege of living in
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post 1652614593 12-15-2021, 06:14 PM
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Originally Posted By donalduck⏩
I am a rentcel, but you are factually incorrect.

You own the home and the bank has a lein on the home.

BRB OP thinks if you buy lunch with a credit card the bank owns the lunch lmfao
OP’s logic in a nutshell
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post 1652614713 12-15-2021, 06:16 PM
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true

and then you have property taxes
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post 1652616243 12-15-2021, 06:48 PM
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ITT OP doesnt know the difference between asset and liability.


OP is poor and is vomiting financial 'advice'.






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post 1652616983 12-15-2021, 07:00 PM
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Originally Posted By Destor⏩
What if you have the cash to pay off the house but sit on the mortgage anyways because interest rates are so low and paying it off early doesn't make sense
This is something non-financialcels and coping rentcels will never understand. A low interest mortgage is basically free money if you know what to do with it.
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post 1652617653 12-15-2021, 07:11 PM
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Originally Posted By yeshli2nuts⏩
This is something non-financialcels and coping rentcels will never understand. A low interest mortgage is basically free money if you know what to do with it.
I’m for taking out mortgages for leverage, but It’s only free money if you have the cash on hand to put into other investments that make way more than the interest rate. It’s not free money for 95 percent of people bruh
post 1652622693 12-15-2021, 08:46 PM
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Originally Posted By Anachron⏩
The bolded is just a strong assumption - how do you know I don't own my home?

Looking at your barrage of replies ITT, it's clear to see who is rustled - and that's you.

Hey, look on the bright side - you get two weeks to make sure you pay your rent on time!
The “barrage of replies” is just multi-quote not working while i sit on the toilet responding to people ITT

If you own your home then welcome to the masterrace
post 1652622873 12-15-2021, 08:48 PM
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Originally Posted By Jestbrah⏩
its absolutely a terrible thing I made more than your salary, probably more than 2 years salary on my equity alone this year(140k)

tell me again how bad of a decision I made buying a house?
?If you are still paying off your mortgage then you havent entered the homeowner master race crew. So out of your cope you decide to make fun of rentcels lol

So much defensiveness ITT its unreal. All these people who dont own homes lashing out at rentcels, it’s hilarious
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