Home Mortgage And Our Age

Posted by Nick Niesen on October 29th, 2010

Home mortgage refers to the document borrower signs that gives the lender a right to take possession of the property if the borrower fails to pay off the loan.

We, the people, and they, the people also, love to own things. Some important, some trivial. From small things with great sentimental values to large things that everyone envies. Owning a home for most is a dream come through and again for most owning a home is a dream most will never truly realize.

Yes, most live in a home but as long as you make payment on the home mortgage, in my opinion you do not own it. It does not diminish the pleasure you or I drive from living in a home that is not a rental nor do we take less pride in the fact that we actually live in a property that to most people can call it ours.

After all, we pay property tax, the insurance and the homeowner dues. We mow the lawn even when we rather watch football and repair the roof when needed even if we have to borrow some more money to pay for it. We furnish the home, buy indoor plants. We landscape the yard and we throw parties in the back yard and play tag with our rottweiler.

For all practical purposes except one, we own the home. So why am I making a big deal out of this thing called home mortgage. May be I shouldn?t since over the last twenty some years of home ownership, home mortgage, home equity line of credit and second mortgage has helped me out of so many financial troubles that I can hardly count.

As my wife and I get older we also realize that every time we traded our home up we moved to a bigger and more beautiful home which also meant a bigger home mortgage. We realize that we cherish freedom more and more and home mortgage obligation is something that we love to have paid off. We like to truly own the home.

As you look at various lenders looking for a new home mortgage loans or refinance your existing home, you may also consider that you, at some point, may want to own your home. Perhaps, the lowest interest rate home mortgage is not the best way to go but the one that with a little hardship helps you own your home a little earlier.

I think one of the greatest financial securities in life is not owning a home but having the home mortgage paid off. What do you think?

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Nick Niesen

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Nick Niesen
Joined: April 29th, 2015
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