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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 1523610921 10-23-2017, 04:27 PM
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#1
  1. StrawHat94
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I'm sorry but having a mortgage DOES NOT make you a HOMEOWNER

It simply doesn't. You don't own the house

It literally will take 1 or 2 missed payments and BOOM you're homeless

Don't get mad at me, just saying. It's irritating listening to people gloat about owning property when they are making payments to a bank

Don't fight me guys
Black Lives Matter
post 1523610991 10-23-2017, 04:28 PM
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#2
  1. Yoopwat
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The land registry records would beg to differ
post 1523611091 10-23-2017, 04:29 PM
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Calm down brah, I’ll loan you the money. How much you need?
I loe e.
post 1523611111 10-23-2017, 04:29 PM
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If I don't own the home than why am I paying? check mate
post 1523611221 10-23-2017, 04:30 PM
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#5
  1. StrawHat94
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Originally Posted By SpeedMan1⏩
If I don't own the home than why am I paying? check mate
ok stop paying then
Black Lives Matter
post 1523611291 10-23-2017, 04:30 PM
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  1. recedingjaw
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Originally Posted By StrawHat94⏩
It literally will take 1 or 2 missed payments and BOOM you're homeless
Lol'd at ignorance
post 1523611691 10-23-2017, 04:35 PM
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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
Ack...Ack
post 1523611701 10-23-2017, 04:35 PM
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#8
  1. Vexidi
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Came in expecting renter cope thread. Leaving satisfied.
post 1523611761 10-23-2017, 04:36 PM
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#9
  1. WallStreetDream
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You own the house because its your asset and the bank is only lending you the loan.

If we go by your merit companies don't own chit because everything is funded by debt and equities.
post 1523611921 10-23-2017, 04:37 PM
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#10
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Does it piss anyone off that their property taxes cost more than rent?
post 1523611951 10-23-2017, 04:37 PM
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#11
  1. StrawHat94
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Originally Posted By WallStreetDream⏩
You own the house because its your asset and the bank is only lending you the loan.

If we go by your merit companies don't own chit because everything is funded by debt and equities.
oh does debt not exist in your little world bro
Black Lives Matter
post 1523612071 10-23-2017, 04:38 PM
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#12
  1. iliketodoit
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Was it JayZ and Beyonce who just took out a mortgage on a home they could easily purchase in cash?

Why would I save up ~$200k when I can just finance it at 3.25% and invest the difference in mutual funds where the returns average 7%?

OP u retarded?
RN, BSN
DNP/FNP route
post 1523612091 10-23-2017, 04:38 PM
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#13
  1. GnarlySheen
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Location: england, United Kingdom (Great Britain)

You irate you have to rent and answer to muslims or something now brah?
post 1523612151 10-23-2017, 04:39 PM
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#14
  1. Fatkidwholifts
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Op is easily the worst poster in recent history.
Once upon a time:

405
315
455

Currently Washed up.
post 1523612231 10-23-2017, 04:40 PM
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Originally Posted By StrawHat94⏩
It simply doesn't. You don't own the house

It literally will take 1 or 2 missed payments and BOOM you're homeless

Don't get mad at me, just saying. It's irritating listening to people gloat about owning property when they are making payments to a bank

Don't fight me guys
An example of this is what happened in Texas. After the hurricane wrecked many homes, some were unlivable without flood insurance. The "home owners" still have to pay the bank, even though they do not have the home. They will owe on that home for up to 30 years (whatever their mortgage length is) or default and ruin their credit.

If they had owned the home, they would not owe anyone.
post 1523612261 10-23-2017, 04:40 PM
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Originally Posted By StrawHat94⏩
oh does debt not exist in your little world bro
Are you retarded?
post 1523612521 10-23-2017, 04:43 PM
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Originally Posted By SpeedMan1⏩
If I don't own the home than why am I paying? check mate
You will own it once the mortgage is paid off.
post 1523613091 10-23-2017, 04:50 PM
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#18
  1. StrawHat94
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Originally Posted By iliketodoit⏩
Was it JayZ and Beyonce who just took out a mortgage on a home they could easily purchase in cash?

Why would I save up ~$200k when I can just finance it at 3.25% and invest the difference in mutual funds where the returns average 7%?

OP u retarded?
you're assuming any future income is a lock lmao. All it takes is one accident and BOOM can't pay for your house anymore and BOOM you're homeless

Just stating facts bro, don't attack me
Black Lives Matter
post 1523613321 10-23-2017, 04:53 PM
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#19
  1. Issobolic28
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Great. Thanks OP.

I'll call my hydro company and tell them I'm not the home owner; and to call the guy who owns my home to pay the bill.

So if any problems arise, will you give the hydro company your rationale?
post 1523613611 10-23-2017, 04:56 PM
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  1. FrankCostello
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Originally Posted By Issobolic28⏩
Great. Thanks OP.

I'll call my hydro company and tell them I'm not the home owner; and to call the guy who owns my home to pay the bill
How much did you put into your down payment?
post 1523613681 10-23-2017, 04:57 PM
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#21
  1. Issobolic28
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Originally Posted By frankcostello⏩
how much did you put into your down payment?
50k
post 1523613751 10-23-2017, 04:57 PM
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  1. redmelly
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To clarify, when you take out a mortgage, you really do own the house in terms of what changes you are going to make to it, who lives there, etc. However, the mortgage debt you have is secured by the house. This means that if you refuse to pay, the bank is allowed to take possession of the house. They don't even get the "whole" house, though; they will sell it to recoup their losses, and give you back whatever equity you had in the house after the loan is satisfied. It could be $0 or you could even owe the bank if the mortgage is under water.
post 1523613911 10-23-2017, 04:58 PM
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#23
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Yeah and while we are at it:

If you have a kid, being broken up with your spouse does NOT make you a single parent. Single parents are raising a child by themselves.

If you have joint custody arrangements or receive child support payments from a co-parent, you are not a single parent
worse things happen at sea
post 1523614111 10-23-2017, 05:01 PM
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#24
  1. Issobolic28
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Originally Posted By StrawHat94⏩
you're assuming any future income is a lock lmao. All it takes is one accident and BOOM can't pay for your house anymore and BOOM you're homeless

Just stating facts bro, don't attack me
Have you ever been through a home-buying process?

The moment your offer is accepted, a lawyer is involved to transfer the deed of the home to your name. Which makes you the owner.
post 1523614161 10-23-2017, 05:01 PM
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#25
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If I don't own it then why can I sell it tomorrow and have a bunch of cash in my account after doing so?
I don’t want a large farva, I want a goddamn liter of cola

Send In The Clowns
post 1523614301 10-23-2017, 05:04 PM
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  1. HughBMyron
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Originally Posted By StrawHat94⏩
you're assuming any future income is a lock lmao. All it takes is one accident and BOOM can't pay for your house anymore and BOOM you're homeless

Just stating facts bro, don't attack me
Or you just sell your house and rent like a poor person like you do OP.

Derp derp.

You're easily one of the worst posters on the misc.
"Steven Curry is a mouth guard chewing piece of chit" - Gandhi
post 1523614321 10-23-2017, 05:04 PM
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#27
  1. Goncho
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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
I'm Negan
post 1523614401 10-23-2017, 05:04 PM
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Renting is stupid guys. One big accident and BOOM you can't make your rent payments and are HOMELESS.

Better off just being HOMELESS from the start like OP
"Steven Curry is a mouth guard chewing piece of chit" - Gandhi
post 1523614471 10-23-2017, 05:05 PM
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OP spaketh too much truth
Natty poverty maintenance crew

Actual economist crew

Austrian school crew
post 1523614691 10-23-2017, 05:08 PM
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#30
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The biggest sham is property taxes. Pay your house off but don’t pay Uncle same the taxes on the land. Everything on that land then becomes uncle sams. In short, you never own the land which makes this thread moot.
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