Being insulting doesn’t make you correct. You may have never owned a home but I have. I have sold a home before the mortgage was paid off. The amount of the purchase paid off the existing mortgage and gave me cash for my equity. This allowed me to put a bigger down payment at a lower interest rate on a bigger home. This is very common.

You’re a fucking idiot The sky didn’t fall with the 30 year note People will get equity thru payments and appreciation Banks don’t own appreciation you fucking dipshit

Interest only loans are the default structure for buying investment property in NYC. Why? Because of the track record of prices going up. If there's a strong probability of home price appreciation where you are buying and/or a general spike in inflation? Buying the maximum property you can afford is a winning strategy.

The midwits confusion stems from paperwork that requires an answer to: “do you own or rent your home”

No point in being a sperg when he's factually correct. He's obviously aware the bank can foreclose. You are being obtuse.

Could it be that you haven’t mastered the system because you really don’t understand how things work?

I’m dead here. 😆

🤣🤣🤣

You’re a moron. If you buy a house for 100k and have a 80k mtg, if the house value jumps to 200k the next day, you pocket the difference not the bank. Its called equity dumbass

No, you are too stupid to be listened to.

You say that , but look in the mirror. This person is building equity and their housing costs are frozen vs Rent going up 10% a year with zero equity built.

And you’re smart enough to have an intelligent conversation?

These people are the target audience lmao.

Ah, the veiled threat of death… that didn’t take long. Envy is one of the deadly sins most every cultures has identified irrespective of religion.

He is objectively correct, and you are fucking retarded.

You’re a fucking retard.

The Dunning-Kruger catchphrase

No. You're too stupid to live. You're failing to mention the equity families gain by owning a home. After owning the home for 5-10 years, the house will gain around 200k in equity. People sell that home and put a good down payment on a new home with a 30yr fixed conventional loan. Equity is the key word.

You know what’s not stupid? Making your own choice on your mortgage terms. Now shut the fu*k up.

No the bank does not own the house. It is collateral until the loan is paid off. But you won’t hear that.

If the house doubles in value, who gets the extra $? Not the bank, retard.

if you didnt 'own' it you wouldnt pay property tax and maintenance

Ironic

Woe is either a bitter poor person who can’t understand the concept of upward trajectory or has a political agenda. These comments are insane.

Kids who live in mom's basement playing adulting on the internet make me crack up! You ok, huny?