subject: Better Than Refinancing Or A New Home Loan... How About No More Mortgage Payments [print this page] If you run a search on home loans, foreclosures, or refinancing you'll find thousands of companies that are taking full advantage of the Real Estate crisis to refinance homes, rework mortgages and deal with the carnage of foreclosure.
For the average homeowner who is NOT behind on their payments, the road seems clear to play the shell game of refinancing, but for many in our economy, they are just holding on for dear life.
It is a sad commentary on our "prosperous" nation that the vast majority of "homeowners" are in so much debt. Less than 10% of all homeowners actually own their homes. We should call the homes "bankowned" because essentially that seems to be the case.
Less than 10% own their home. That's a shame.
* What if there was an answer? What if you could find a way to own your home FREE and CLEAR without owing anyone another nickel on your house?
* What if you could do that in a relatively short period of time?
* What if you didn't even know that and because you never found out about it, you lost your home?
It's a pretty sad commentary but, it's happening all across America.
The answer most people choose seems to be the shell game. You know the drill. You go and "refinance" your current mortgage for a "better rate" or better terms and maybe even pull out some of the equity. Aren't you just savvy.
Little do most people know that they are gambling with the one thing that truly represents security in our very insecure world. So few people actually "own" their homes that we have forgotten what that really means.
When a bank owns the paper on your house, your family is never really secure. You could be fine now but let there be problem making the payments and you suddenly find out just how insecure you actually are.
Thousands and thousands of "homeowners" became renters last year. That's a cold slap in the face considering many of them had YEARS of payments and interest into their bankers only to find themselves outside their homes.
Welcome to the New America, where the banks own everything.
I looked all over and haven't really found any information on really getting free from the mortgage rat-race. I found all kinds of information on mortgages, refinancing, equity loans, and all kinds of different loans.
I found information on property taxes, improving your credit and all kinds of information on "qualifying" for a mortgage but how to get FREE from a mortgage... very little.
Have we simply given in? Are we a nation that is so comfortable being in debt that we no longer even seek out ways to get free? That seems sad.
We should be looking for ways to get rid of mortgages, debt, and financing in our lives. We should be looking for answers that make our homes secure so that we are not loosing sleep over foreclosures.
Bankers are a smart bunch. They know that sooner or later over 30 years, there is bound to be a problem. They know full well that you will likely have issues at one time or another. They "bank" on it.
I've read horror story after horror story of families whose "equity" was wiped out virtually overnight and they found out they weren't really homeowners at all.
So what are we doing about it? Not much it seems. Every "solution" I've seen in pages and pages of searches seem to be some sort of "financing" and very little is pointing to NO MORE MORTGAGE PAYMENTS which I would think would be our goal.
I don't know about you but saying good-bye to the mortgage company and knowing that I OWN MY HOME free and clear is one way to really make your family secure.
Are there solutions? Of course there are. This is America. You don't have to have a mortgage. You don't have to owe the bank for your home.
You could get rid of the mortgage but, you'd have to change your thinking.
