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2719: Why Choose To Live In The Poor House - Again? by Helene Massicotte of Free to Pursue on Should I Rent or Buy
Optimal Finance Daily - Financial Independence and Money Advice
Exploring the Consequences of Having a Mortgage for Life
Having a mortgage for life means paying double for housing due to interest payments. It indicates a lack of significant savings for retirement and may lead to financial challenges post-retirement. Additionally, having a mortgage means the home will never truly belong to the individual, as it will always be owned by the bank. Viewing a home solely as an investment is not ideal, as mortgage interest and inflation can eat into potential appreciation, and selling the home to access the appreciation may result in becoming renters of one's own property. Overall, opting for a mortgage for life can have long-term financial implications and limit one's ownership and financial stability.
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