The American Dream You Have To Be Asleep To Believe iT!

Do you really think that it's someone elses' money that the bank lends you for a mortgage?
It's not. The bank has less than 10% of that money on deposit...the rest + all the interest is created out of thin air. Fractional reserve banking is entirely unreasonable as is thinking you can work hard, pay rent, raise kids and save enough to buy a house outright. (with a few exceptions but not many).

 

It doesn't matter a hill of beans, if it was the money from the bank, or if you borrowed from your uncle Mike down the road, YOU made a contract, and agreed to do certain things and certain times. You put your name to the bottom line, voluntarily, and now you need to fulfill your given word.
If you sign, then toe the line.

 

I don't think you get it Kellory....or you do and are just trolling because it was me that posted it. (as usual) If I borrowed it from my uncle, he had the money deposited in his account. ALL of it. The bank doesn't actually HAVE the money to lend....they just enter some numbers in the computer. It's fraud. My Uncle can't lend me money he doesn't have but the bank can. The hill of beans is a REAL thing, it's worth more then 90% of the mortgage that the bank lent you because it exists.
This is not one of my OPINIONS....it's the facts.
Does "Let the buyer beware" extend to fraud in your opinion?

 

Which part of YOUR given word, depends on what someone else does? the source of the money does not matter AT ALL to your personal honor. You sign, you are bound by your given word, your bond, your sacred honor. what the bank does, or does not do, has no bearing on that fact.

 

relax, he ain't listening, so I'm done talking.

 

If the bank or person you are dealing with is ripping you off - it matters.
While I would agree if you said "You shouldn't make deals with criminals..."
You should agree that criminals shouldn't be allowed to make deals legally and get bailed out at 100 cents on the dollar when the deals they made by preying on desperate and less intelligent people go bust. The vast majority of people that "singed on the line" can't understand the language that the deal was written in and have been conditioned all their lives to just sign without even reading the "terms of service" or "legally binding contract". Most of the loans that created your "mortage crisis" should NEVER have been made by the bank and NOBODY disputes this.
They were predators....to a criminal extent.
It's people like you who have let them off the hook with fines so small that they just write it off as "the cost of doing business" (crime).

I don't disagree that your word is important....so please stop implying so.

 

God forbid you

I own my own business, What I said about the Bean Counters was only to illustrate the point that those decisions have real Human consequences, intended or not!
Our servicemen and woman have families too, mortgages, car payments,etc.. When the Military juts fer-lows those guys without warning, means that all those people who signed up and were basing their lives on a Military career, end pension, suddenly find themselves in a very bad situation.
News: Bankruptcy Statistics Bankruptcy Data Charts Filings Graphs Trends by NBKRC
The stats on that graph say it all!! Go back 5 years and add up the numbers, their nothing short of Incredible! No one can convince me that they all or even most, were irresponsible with their finances. Theirs too many!!
My original thoughts for putting this out there was simply to illustrate a point.
America today is not the the same America of Yesteryear!
Anyone who would argue that it is, especially on a site like this one IS A MOLE!! or a SITE BUSTER!!
This Country has changed a lot in the last 20 years, and none of it has been for the good. Stock Markets, with their speculation on futures, Government infringement, EPA Regulations, Heavy Corporate Taxation (The Highest in the world), slow deterioration of personal freedoms, I don't have enough ink in this typewriter to go all the way down the list, but I'm sure you get my point.
Along with the push to for a total crash of the Paper Money economy that's driving a Hyper-inflated Stock Market, we're headed for disaster!
there is not a BEAN COUNTER on the planet(that does not work for the FED) that will say any different!
If you read my initial Diatribe all I was trying to say was, I should have been teaching my kids how to build, grow food, hunt, be self sufficient, instead of creating the illusion that this is what life was supposed to be, a perpetual chase the dollar game! I wake up today and go to work so that I can afford to wake up tomorrow and go to work............
I only suggest that when one takes a black and white view of things, maybe colorblindness is at play.
On a lighter note WOOOOH HOOOOH!!! this was a Major discusion thread Its getting deep!!!
Somebody work this little guy and make him eat his popcorn!

 

Hallelujah!! Finally, someone gets what I was saying!!

 

I've got news for ya! You only own it til they came and take it.
Obamacare has provision in it that say If, you receive Medicaid, which sooner or later most will(at the fixed income pont of life), the government gets your house when you die! their calling it an UNINTENDED CONSEQUENCE, you think so?
The Obamacare ‘Shotgun Wedding’—Marry or Lose Your Home - Yahoo News
Google Obamacare and property seizures, don't do it on an empty stomach it might make you sick!
I read a couple of your posts and have this to offer.
I have found in my 50+ years, that it is never wise to make statements that are all encompassing, or put myself on a higher ground than my fellow man, and never say never! These types of statement can have a Carma effect! I call it God effect but you know what I'm getting at.YMMV

 

I see where the original post is coming from and agree in principle. But the practical is totally another matter.

In this day and age, how realistic is it to buy a house and pay cash in full? And what do you plan on living in while you are saving the cash? I think that, regardless of the various financial philosophies, we all agree that everyone has to live somewhere, right? And you (generally) can't live for free, right?

Is paying rent for thirty years better than paying a mortgage? If neither is acceptable, what is a workable alternative for those who don't have and can't get $100,000 or more to plop down in one shot? And if the cost of upkeep and repairs to the property is a basis for not owning property, then you should neither own nor rent because you are going to pay these bills either right out of pocket or indirectly through your rent.

Some people manage to swing paying cash for a house (and then, predictably, go around pontificating about how everyone else is a "sheep"). For those who pulled it off, well good on you. Enjoy your elevated righteousness. Those of us with modest single incomes, or have medical bills, or are paying someone else's bills, or have been through unemployment, or are otherwise just barely squeaking by, live a much different reality.

I see this "having a mortgage is stupid" theme come up a lot in prepper circles, and I don't know if I should take it as honest wisdom or smug moralizing. I give the benefit of a doubt, but I lean towards the latter.

 

That's why you should live out of your bug-out vehicle, I don't live out of it, I don't even have a BOV yet, but once I do, I want to stop with this house life.

 

I spent a winter in my old RV on the farm....
Even connected to hydro/water from the house - it was not comfortable.

 

So.....I could date cars, they are awesome!!! I could give up alot to live in my car, just think about it....if you want to, picking it all up and going somewhere else, or being able to camp and not have to pack... just the little things.

 

Ya...cuz peeing in a bottle, crapping in public washrooms, showering at the YMCA and getting harassed constantly by LEOs for where you park/camp is a good life.

 

Your on a roll today, are you TRYING to make me crap my pants from laughing to much? and yes, totally, I have not thought all the way though yet, but it just may be worth it.

 

It's all good dude....daydreaming is the first step and a MUCH better distraction than watching TV.

The prepper thing takes your entire life to figure out.... if u look at some of the mean old buggers on here like BTpost you can get a feel for what it really takes to be "off the grid if need be", stocked up on wild food and educated enough in REALITY to take a good shot at surviving SHTF.
Figure I can make it a year WROL, maybe more....but I sure will miss this whole internet thingy ping.