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Forum » I'm sorry but having a mortgage DOES NOT make you a HOMEOWNER
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Thread: I'm sorry but having a mortgage DOES NOT make you a HOMEOWNER

post 1523827541 10-25-2017, 01:00 PM
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#121
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Originally Posted By redmelly⏩
But then there would be no roads to get to and from your home. Also, if you had an emergency, no way for an ambulance to get to you. Also, no police to call if someone tried to rob you. It's better with property taxes, but they charge too much. I pay 17k a year.
lol wheres that "muh roads" meme when you need it...
post 1523827661 10-25-2017, 01:01 PM
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#122
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mfw you work in the mortgage industry and you realize buying a house is not smart for 90-95% of the population and they they do it anyways...smdh
my name is nathan but my friends just call me N word
post 1523828941 10-25-2017, 01:12 PM
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#123
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Originally Posted By mazimi18⏩
mfw you work in the mortgage industry and you realize buying a house is not smart for 90-95% of the population and they they do it anyways...smdh
please elaborate
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post 1523831571 10-25-2017, 01:33 PM
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#124
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Originally Posted By badbl00d⏩
such is life as a TennantOP
weak
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post 1523832021 10-25-2017, 01:37 PM
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#125
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Originally Posted By mazimi18⏩
mfw you work in the mortgage industry and you realize buying a house is not smart for 90-95% of the population and they they do it anyways...smdh
Its cheaper for me to own the current house with mortgage than rent and no mortgage. brb ****ty 2 bedroom homes 1000bucks not inclulding utilities.

Bought a 4 bedroom almost 3k sq foot home with 2 car garage and rent out 2 rooms. They give me 900 towards my mortgage. (mortgage, insurance, utilities, internet water, etc) all comes out to 1100. So i pay 300 a month.

Yes I have a mortgage but damn. Rent is going higher every year and I dont want to pay other peoples mortgage. I can rent this for 1500 if I ever decide to move as well.
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post 1523835131 10-25-2017, 01:57 PM
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#126
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Originally Posted By Ratfish⏩
please elaborate
See The Big Short. Not everything has changed since then .. some things remain as they were pre 2008.

post 1523837601 10-25-2017, 02:17 PM
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#127
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Originally Posted By Jms89⏩
Lmao why does the auditors website list me as owning the property i live at then brah? Lets see...i can either:

A) Rent, and be subject to rising rental rates, dealing with low income trashy people, and earn nothing on the money i send to the landlord each month
B) Own a home in a decent neighborhood, low crime, rising value in home i "don't own", then sell it in 5 years for a nice profit
C)watch it devalue and end up owing the bank
das ist
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post 1523839211 10-25-2017, 02:32 PM
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#128
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Originally Posted By mazimi18⏩
mfw you work in the mortgage industry and you realize buying a house is not smart for 90-95% of the population and they they do it anyways...smdh
lmao plz explain your reasoning there. i sure like earning 40k in equity the passed 4 years and i know im not in some magical top 5-10%
post 1523839411 10-25-2017, 02:34 PM
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#129
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Originally Posted By AWillis⏩
das ist
if you dont sell it in the low market you dont lose money. das really it.
post 1523839461 10-25-2017, 02:35 PM
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#130
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Pseudo Homeowner > Tenant all day errday
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post 1523839491 10-25-2017, 02:35 PM
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#131
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Originally Posted By fishnbrah⏩
lmao plz explain your reasoning there. i sure like earning 40k in equity the passed 4 years and i know im not in some magical top 5-10%
Yeah must be a chitty mortgage broker to throw out huge generalizations like "90-95%". Please explain mazimi18
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post 1523840031 10-25-2017, 02:39 PM
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#132
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Can tell you plebs live in the US.

2 bed flat in the worst part of London you will need a £30k deposit....
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post 1523845491 10-25-2017, 03:31 PM
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#133
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Renters lol
post 1523845831 10-25-2017, 03:33 PM
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#134
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Originally Posted By Wh1teDyn0mite⏩
Can tell you plebs live in the US.

2 bed flat in the worst part of London you will need a £30k deposit....
what's the HOA (you guys call it a Sharia Zone Fee)?
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post 1523846291 10-25-2017, 03:37 PM
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#135
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Originally Posted By EarlA⏩
lol if you think you “own” your house because it’s paid off and you pay your property taxes.

Let’s see what happens when a Tsunami hits and you don’t have insurance
Lol if you think you own the cash in your pocket.

Let's see what happens when I put a gun to your head.
post 1523847271 10-25-2017, 03:47 PM
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#136
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What's everyone's feel about people who want to buy a home but feel like they would be buying on inflated prices right now? AKA me.

Houses near me that used to cost 300k a couple of years ago now go for 450k+. They're not large houses or new. Is it worth me buying into the market now or should I wait for a correction? Will there be a correction? Or will those 450k houses be 600k in a couple of years?
post 1523850051 10-25-2017, 04:14 PM
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#137
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Originally Posted By Phobaphobia⏩
What's everyone's feel about people who want to buy a home but feel like they would be buying on inflated prices right now? AKA me.

Houses near me that used to cost 300k a couple of years ago now go for 450k+. They're not large houses or new. Is it worth me buying into the market now or should I wait for a correction? Will there be a correction? Or will those 450k houses be 600k in a couple of years?
Hey, what country are you living in?

As someone living in the UK, they sound like London and surrounding kind of prices and rate of increase.

If it is UK I'd share my opinion but long read for someone whom the information is useless for!
post 1523850211 10-25-2017, 04:16 PM
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#138
  1. Ratfish
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Originally Posted By Phobaphobia⏩
What's everyone's feel about people who want to buy a home but feel like they would be buying on inflated prices right now? AKA me.

Houses near me that used to cost 300k a couple of years ago now go for 450k+. They're not large houses or new. Is it worth me buying into the market now or should I wait for a correction? Will there be a correction? Or will those 450k houses be 600k in a couple of years?
of course there will be a correction. it's just a few years out. how things will go depends on your individual market

here in portland there are so god damned fukken people coming here that it supports prices more and there isn't a huge collapse

i'm planning on buying a second house or some commercial property in 4 or so years

to give you an idea, i got my house for 160 4 years ago and it would cost 300 now srs. but 300 still sounds like a good deal if you're coming from southern california
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post 1523850801 10-25-2017, 04:22 PM
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#139
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Technically you are wrong. The property is indeed owned by the mortgager. There is a lien on the title, meaning the property is collateral. But the borrower owns the home.
post 1523851151 10-25-2017, 04:25 PM
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#140
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in the market to buy crew... ain't getting cucked by rent anymore
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post 1523851951 10-25-2017, 04:30 PM
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#141
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Originally Posted By solidus2k3⏩
in the market to buy crew... ain't getting cucked by rent anymore
That leaves you with getting cucked by ur girl, oh wait, you don't have one.
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post 1523852231 10-25-2017, 04:33 PM
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#142
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Originally Posted By solidus2k3⏩
in the market to buy crew... ain't getting cucked by rent anymore
cucked by bank tho
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post 1523852611 10-25-2017, 04:36 PM
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#143
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Originally Posted By StrawHat94⏩
cucked by bank tho
renters are still getting cucked by the bank

still getting cucked by property taxes as well
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post 1523853871 10-25-2017, 04:48 PM
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#144
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post 1523855541 10-25-2017, 05:02 PM
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#145
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Originally Posted By StrawHat94⏩
cucked by bank tho
How so? You can pay the loan off early which saves you a ton of money. Can’t do that with rent.
You have the ability to leverage equity into your favor. Can’t do that with rent.
Forever rising rents. Most are locked into a certain rate.
There are pros and cons but yours makes no sense.
post 1523855701 10-25-2017, 05:04 PM
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#146
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obviously OP. I agree with you, but having just recently gotten a mortgage for a nice house, it's awesome making this place my own, doing exactly what I want to it without worrying about what the landlord would think. planning years in advance what I'm gonna do to it.
post 1523864311 10-25-2017, 06:46 PM
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No mortgage since 2007, still pay approx $600 a month between taxes, insurance, and hoa
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post 1523876331 10-25-2017, 08:53 PM
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#148
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Mortgage is a scam
post 1523878981 10-25-2017, 09:17 PM
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#149
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Originally Posted By Testifier⏩
LOL @ boyos who have their homes paid off saying they "own" their house.

yeah, let's see what happens after you stop paying your property taxes boyo.

lol just lol
Originally Posted By Goncho⏩
true. and even then its not yours . you gotta pay property taxes on it every month. you have to stay not broke to not be homeless
1. I'd rather pay my mortgage for 20-30 years with a 4% interest rate and keep my money in the market at a comfortable 8-10% average return. Having a 'paid off' home isn't necessarily the smartest play. Especially when you get tax breaks on the interest of the loan.

2. Yes you have to pay property taxes. But property taxes are a lot cheaper then rent. And its a lot harder for them to kick you out of your home/seize it for unpaid taxes then it is for your landlord to evict you for damaging his property, missing a payment, etc. The whole reason its call 'landlord' is because he is the lord of the property and you are the peasant that has to pay him to live there and abide by his rules. Obviously you'll always be taxed by the 'king' but sh!t rolls down hill, and I'd rather be near the top.


3. The amount of equity you can build in a home can be an amazing thing. I had my home built nearly 2 years ago. If I were to list in on the market tomorrow it'd be for 20-25K more then I paid to have it built.




If you do your research and buy smart you can make crazy gains in real estate. You just need to be able to play the long game if need be. IE in same area for 10+ years.
Originally Posted By Wh1teDyn0mite⏩
Can tell you plebs live in the US.

2 bed flat in the worst part of London you will need a £30k deposit....
Are you insinuating 30K is a lot of money?
post 1523881511 10-25-2017, 09:43 PM
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#150
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Australian checking in - capital city - $110k in savings

I could borrow half a million dollars, buy a house 35-40 minutes from town and over the lifetime of that loan, pay over $400k in interest
Or I could borrow $300k and buy an apartment or townhouse, and pay $12k per year IN BODY CORPORATE FEES ALONE, plus interest on the loan ++

Or I can pay $13k per year in rent, with a yard for my dogs, 10 minutes from the centre of town and continue to save $12k per year on my $80k income, while the bank pays me $200 per month in interest.

It depends on where you live in the world. I would only buy a house here if I had a young family, so my kids could have a 'family home' to grow up in. That is the only way it would be 'worth it'.
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