Forum Discussion
msmith1199
Sep 30, 2013Explorer II
Sea Dog wrote:
Interesting how thing change.
When I was young debt was something to be ashamed of.
When I was twelve, my fathers barn burned down.
He borrowed six thousand dollars to rebuild, we kids were warned, on pain of death to never mention that my parents carried a mortgage.
Now it seems payments are party conversation.
I guess my early experience is why I have never paid a cent of interest
in well over forty years!
Not sure how old you are, but mortgages have been around for many many years and if you wanted a house you had one, at least for a couple of generations back. I know my grandparents had a mortgage on their house because I've seen photos of their mortgage burning party when it was paid off, and grandpa was born in 1909. The mortgage burning party was in the 50's.
I think one thing people don't realize is buying things on credit is part of our economy and it's what makes the world go round so to speak. Without people getting mortgages and buying things on credit our economy would grind to halt and if you want to see bad times then you'll really see them when that happens.
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