Financial expert ANSWERS: Should you pay off your debt NOW?

Posted on April 11, 2023 by DRenegade
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Lawnmore
Lawnmore
1 year ago

If your home is paid for free and clear, the banks can’t take it! The state still can through taxes or eminent domain; however getting an alloidal (spelling?) title can prevent much of that. You can also be sued by others for other debt. It might be a good idea to plan on filing for bankruptcy early, in any crash!
No financial advice here, just the ravings of a crazy old person

It helps to stop thinking of everything in terms of money and think in terms of real value! It doesn’t matter to me how much my house is worth in dollars! It can be worth a dollar or a billion, it is not a investment, it is my home!

Hoping you can pay off your home with inflated dollars is great if you can keep your job in a collapsing economy, good luck!

Michael
Michael
1 year ago

Banks and Government work hand in hand.

The Bankers and Tax men always get their pound of flesh.

Both have Government goons protecting them.

When Venezuela facing massive inflation converted their money the Bolivar for the “Strong Bolivar” they exchanged the old bolivar for the “Strong Bolivar” and after the conversion date was passed the old bolivar was worthless.

However, the Banks got to change your loans and debts FROM the Old Bolivar to the Government Approved amount of “Strong Bolivar”.

Your Debt didn’t vanish, and your cost pay back that loan was increased.

The poor remained poor; the Middle Class was slaughtered by reevaluated debts.

Get out of debt and have the coin of the kingdom to pay your taxes.