If you are mortgage-free, you are helping to pay EVERYBODY’s mortgage, since fully 95% of the home loans in this country are either FHA, or are purchased by Fannie Mae or Freddie Mac, which have implicit taxpayer backing… which I expect they will call on again sometime very soon.
As one who is mortgage free, and declined to borrow to the hilt to take part in the Great Rampage of the 00s, I’m a little miffed about it. In the 00s I was rapidly priced out of places that compared with my rental, by the rapid appreciation driven by loose lending. Now other buyers are being priced out by the investment “cash” buyers who are drawing on Fed-provided lines of credit with almost no interest.
As a REAL cash buyer who bought much less than I could “afford’ simply to avoid having a mortgage, I am also subsidizing the mortgage interest that mortgage borrowers deduct from their taxes. The mortgage deduction not only does not benefit cash buyers, but also does not benefit lower-middle income people with their $100K mortgages, because their standard deduction is larger than the deduction they could take for mortgage interest. The only people who benefit from the mortgage deduction are affluent borrowers who take out large mortgages; home builders, developers, real estate brokers, and lenders.
MuckAbout
July 12, 2014 7:57 pm
@Chicago999444: I’ve owned zero debt since 1973.
This is humbling experience covered by a powerful feeling of independence and knowing that whatever, no matter what, I can walk away from any situation free and clear with not a single debt to follow on as a burden or as a previous contract to cause me to struggle to pay off.
I own no one anything and am able to stand on my own two feet and rejoice the financially independence that lack any debt. It is substantially a smooth (and not simple thing to do) easy to achieve what one would achieve by slowly reducing purchases but also slowing any increasing the purchasing cost of anything, having previously agreed upon the max .
Best luck managing the same shop by discipline. Not easy but oh-so-satisfying!
So perfect. So satisfying.
MA
bb
July 12, 2014 8:36 pm
Muck ,you about as dumb as they come .You owe the biggest debt which has not been paid to GOD .The debt for your SIN and SINS .Either GOD pays the debt to himself or you pay the debt in Hell . I love it you claim to be free and independent. You are so self deceived. You are the most enslaved to your flesh , this world and your god with a little g .
AWD
July 12, 2014 9:43 pm
Talk about a clusterfuck, just look at these fucking idiots holding hands, Boner and Reid and turtle boy. Do you wonder why the repubfucks do nothing? it’s because they’re giving each other reach-arounds as they destroy our country and fail to impeach an increasingly mentally unstable Obama.
He did.
It’s one thing to share the good news, quite another to condemn people to the pit of hell.
Besides, we Mexicans have priority, having transgressed the inviolable border to get to the promise land.
XCoyote
July 12, 2014 10:12 pm
AWD says:
“Talk about a clusterfuck, just look at these fucking idiots holding hands, Boner and Reid and turtle boy. Do you wonder why the repubfucks do nothing? it’s because they’re giving each other reach-arounds as they destroy our country and fail to impeach an increasingly mentally unstable Obama.”
You deserve a reach-around for that most excellent comment.
Maddie's Mom
July 12, 2014 10:42 pm
@AWD,
omg.
Please tell us you photo-shopped that pic.
El Pocho
July 12, 2014 10:42 pm
They should have mixed in the negritos, putting them on the far left looks kind of racist main. From what i can tell from this, this country is ruled by psychopathic retards and at least two half gopher negritos. Ain’t lookin good holmes. I’m seriously considering swimming back.
bb
July 13, 2014 12:02 am
Not condemning anyone . I just to like to muck with muck .
If you are mortgage-free, you are helping to pay EVERYBODY’s mortgage, since fully 95% of the home loans in this country are either FHA, or are purchased by Fannie Mae or Freddie Mac, which have implicit taxpayer backing… which I expect they will call on again sometime very soon.
As one who is mortgage free, and declined to borrow to the hilt to take part in the Great Rampage of the 00s, I’m a little miffed about it. In the 00s I was rapidly priced out of places that compared with my rental, by the rapid appreciation driven by loose lending. Now other buyers are being priced out by the investment “cash” buyers who are drawing on Fed-provided lines of credit with almost no interest.
As a REAL cash buyer who bought much less than I could “afford’ simply to avoid having a mortgage, I am also subsidizing the mortgage interest that mortgage borrowers deduct from their taxes. The mortgage deduction not only does not benefit cash buyers, but also does not benefit lower-middle income people with their $100K mortgages, because their standard deduction is larger than the deduction they could take for mortgage interest. The only people who benefit from the mortgage deduction are affluent borrowers who take out large mortgages; home builders, developers, real estate brokers, and lenders.
@Chicago999444: I’ve owned zero debt since 1973.
This is humbling experience covered by a powerful feeling of independence and knowing that whatever, no matter what, I can walk away from any situation free and clear with not a single debt to follow on as a burden or as a previous contract to cause me to struggle to pay off.
I own no one anything and am able to stand on my own two feet and rejoice the financially independence that lack any debt. It is substantially a smooth (and not simple thing to do) easy to achieve what one would achieve by slowly reducing purchases but also slowing any increasing the purchasing cost of anything, having previously agreed upon the max .
Best luck managing the same shop by discipline. Not easy but oh-so-satisfying!
So perfect. So satisfying.
MA
Muck ,you about as dumb as they come .You owe the biggest debt which has not been paid to GOD .The debt for your SIN and SINS .Either GOD pays the debt to himself or you pay the debt in Hell . I love it you claim to be free and independent. You are so self deceived. You are the most enslaved to your flesh , this world and your god with a little g .
Talk about a clusterfuck, just look at these fucking idiots holding hands, Boner and Reid and turtle boy. Do you wonder why the repubfucks do nothing? it’s because they’re giving each other reach-arounds as they destroy our country and fail to impeach an increasingly mentally unstable Obama.
[img]http://thepeoplescube.com/peoples_resource/image/thumb/31147[/img]
https://www.youtube.com/watch?v=k3V0WvXJxzs&feature=player_detailpage
https://www.youtube.com/watch?v=k3V0WvXJxzs
bb says:
“Either GOD pays the debt to himself or…”
He did.
It’s one thing to share the good news, quite another to condemn people to the pit of hell.
Besides, we Mexicans have priority, having transgressed the inviolable border to get to the promise land.
AWD says:
“Talk about a clusterfuck, just look at these fucking idiots holding hands, Boner and Reid and turtle boy. Do you wonder why the repubfucks do nothing? it’s because they’re giving each other reach-arounds as they destroy our country and fail to impeach an increasingly mentally unstable Obama.”
You deserve a reach-around for that most excellent comment.
@AWD,
omg.
Please tell us you photo-shopped that pic.
They should have mixed in the negritos, putting them on the far left looks kind of racist main. From what i can tell from this, this country is ruled by psychopathic retards and at least two half gopher negritos. Ain’t lookin good holmes. I’m seriously considering swimming back.
Not condemning anyone . I just to like to muck with muck .
You’re a douchebag