HUFFPOST SUPER USER
Ms Liann
F&F Feedback Appreciated
This is an UNCONSTITUTIONAL TAKING scheme, violation of the Constitution.
The MORTGAGE is a deal that the lender will buy a house and let the
borrower live there so long as payments arrive on schedule. The TITLE is
not transferred until the last payment is reached.
The lender gets the DOWNPAYMENT, the NEIGHBORHOOD APPRECIATION, the
INTEREST and ACCUMULATED EQUITY, and the value of borrower IMPROVEMENTS
over the years (including additions, landscaping, swimming pool, patio
deck, fencing, mature trees, solar panels, etc.).
The borrower has received NO INCOME from the lender at any time. All income from the lender went to the previous buyer.
When event cause a default in payments the lender takes all the value
put into the property by the borrower and ejects the borrower, ending
the fiction that they are "Home Owner".
Ending a fiction is NOT INCOME.
No money goes to the borrower. The wealth of equity, down-payment,
appreciation and improvements all flow as INCOME to the lender in
addition to mortgage interest already paid.
IF a home is worth $100,000 (for round number) and the borrower has paid
down to $50,000, and the lender has received by now $150,000 interest
& principal, the INCOME has all been one-way from the borrower to
the lender. No INCOME goes to the borrower.
The Lender now owns a house, has received $150,000 on it already, and
places the APPRECIATED IMPROVED house on the market for $150,000. How is
any of that INCOME to the borrower?
The MORTGAGE is a deal that the lender will buy a house and let the borrower live there so long as payments arrive on schedule. The TITLE is not transferred until the last payment is reached.
The lender gets the DOWNPAYMENT, the NEIGHBORHOOD APPRECIATION, the INTEREST and ACCUMULATED EQUITY, and the value of borrower IMPROVEMENTS over the years (including additions, landscaping, swimming pool, patio deck, fencing, mature trees, solar panels, etc.).
The borrower has received NO INCOME from the lender at any time. All income from the lender went to the previous buyer.
When event cause a default in payments the lender takes all the value put into the property by the borrower and ejects the borrower, ending the fiction that they are "Home Owner".
Ending a fiction is NOT INCOME.
No money goes to the borrower. The wealth of equity, down-payment, appreciation and improvements all flow as INCOME to the lender in addition to mortgage interest already paid.
IF a home is worth $100,000 (for round number) and the borrower has paid down to $50,000, and the lender has received by now $150,000 interest & principal, the INCOME has all been one-way from the borrower to the lender. No INCOME goes to the borrower.
The Lender now owns a house, has received $150,000 on it already, and places the APPRECIATED IMPROVED house on the market for $150,000. How is any of that INCOME to the borrower?