got into it with a member at my club...
was in the steam room with a group of members one of which was bragging about his 25 year old son...
i hate when folks brag...
kids not married and owns his home (my eyes roll)....
so i asked him if he owns it or is it mortgaged...
it's mortgaged but according to the member he owns it...
i reply that's it's not owned, kid has a mortgage...
bank owns it and he is a debtor...
shit when i was 25 i had a wife, 2 kids and a mortgage...
i didn't own my place, it was owned by the bank...
fast forward 35 years, i now own 2 homes...
lock stock and barrel (notes been burned), i only pay property taxes on both...
pisses me off, folks you don't own it till the note is paid off...
credit applications ask you whether you own or rent, they need to expand that to 3 conditions...
do you own, mortgaged or rent...
wouldn't you agree???
rhollis~~~
ps: debt sucks...
same thing with cars (i own both lock stock & barrel)...