Doing my part in helping restore freedom to America while kicking evil in the ass. Guided by God the Father, Jesus Christ & my ancestors!
I need your help.
Make a comment below and tell me what you hate the most about home mortgages with banks.
Thank you!
Discernment is critical.
USURY. It goes against Gods law.
They stopped honoring "extra" payments made to reduce the overall loan amount, thus retroactively reducing the monthly interest payment. Instead they would remove the "extra payment" from the last day of the 30-year mortgage, thus no change in upfront interest fee payments.
UNable to pay down the Higher interest fee, I just paid off the mortgage in full, and they wanted to charge me for doing that as well. (I fought that too, I forget how, but I didn't pay for the privilege of paying off my loan.)
Ridiculous!
Doing my part in helping restore freedom to America while kicking evil in the ass. Guided by God the Father, Jesus Christ & my ancestors!
How should we reinvent the system? I know its a lot to type, but does it look like I’m fooling around? I’m serious about this.
Discernment is critical.
How ? ... ok both lenders and borrowers need to be considered equally. If the lender is not compensated there is no incentive. Purchasers want equity over time / lenders need security of repayment upfront. It's a balancing act.
Maybe the lender gets the equity less interest paid, and then you have to consider the location, more qualifying / assessments will be needed.
The rules & regulations are unique to the circumstance depending upon who will be the lenders and where and what type of purchase?
Banks?
State Govt.?
Community as a collective?
Land owner or Builder?
Doing my part in helping restore freedom to America while kicking evil in the ass. Guided by God the Father, Jesus Christ & my ancestors!
I think the only way this will work is if the lender in this case is a very very non-traditional sort of lender. Will be hard to reinvent this without completely thinking outside the box.
I agree - difficult task ... if broken down to a simple purchase then the need of $$$ paid off over time is the model.
Perhaps the more investment from a purchaser (50% + ) the less interest fee required, and visa versa.
They have a starter program: smaller property (ADU) w/ less minimum $ required, however when sold the equity maxes out at $5K since the state backed the property. Next purchaser has the same qualifications going fwd.
