$5,000 a month Mortgage is insane. $1.6 million at the end of the note. "They APPROVED us... and I realized WHY we'll never own a home." An American couple did everything "right" — steady income, good credit. Interest, taxes, insurance — all stacked on top. "We'd pay $1.6 million for a $450,000 house" It's lifetime debt dressed up as opportunity.
The new 50 year mortgage explained: Wait, you rented your sofa? Yeah, and all we did was pay the interest. How much was the interest? Oh, nothing. It was like $25 a week. How long did you have it? 15 years. 15 years, yeah. Bro. You spent close to $20,000 on a couch you never owned. $20,000.
If you want to own land and build your own home, look into a USDA construction loan. A USDA construction loan can finance the land, build your home, and serve as a longterm mortgage. Plus, there’s no down payment required and only one set of closing costs.
What the head of the snake is the financial system. The mechanism is finance. The whole point of finance is to indent, otherwise to enslave. What is a mortgage? I mean, what does that stand for? It's a death grip. So when you get a mortgage, you have a death grip held over you because you are in debt. You don't even own the house. The bank owns the
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