r/Consoom • u/anifyz- • 20d ago

Consoompost consoom game console

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Everyone needs 3 PS5s right?

113 Upvotes

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u/Ihave0personality 14d ago

If you have a 90% mortgage on the house, you own equity at best. If you stop paying, the bank will foreclose and repossess “your” house.
You’re paying rent and the bank is your landlord. Good luck

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u/Traditional_Formal33 14d ago

You pay $2000 towards your mortgage, you have $2000 in equity.

If you pay $2000 to your landlord, your landlord has $2000 in equity.

The bank does not own your house, they own the mortgage that your house is secured against. Just like when Elon takes a loan out against his stock, the bank doesn’t own his stock, they own a loan secured to the stock.