/biz/ - Business & Finance

I don’t really see the problem with getting a mortgage. Yes, technically, the bank taking your house is a threat if you go financially insolvent, but if you’re competent enough to keep a good paying job, and are financially responsible it’s how someone who isn’t wealthy will be able to own a house and land when they can’t effectively make an up front purchase with cash, which will create generational wealth for their family. Besides you do own your house. You don’t have to ask the bank for permission to renovate, or have pets, or guests, etc.
The bank manager can’t just come over and let himself in to look the home over like a landlord.

I don’t really see the problem with getting a mortgage. Yes, technically, the bank taking your house is a threat if you go financially insolvent, but if you’re competent enough to keep a good paying job, and are financially responsible it’s how someone who isn’t wealthy will be able to own a house and land when they can’t effectively make an up front purchase with cash, which will create generational wealth for their family. Besides you do own your house. You don’t have to ask the bank for permission to renovate, or have pets, or guests, etc.
The bank manager can’t just come over and let himself in to look the home over like a landlord.