Re:Making housing more affordable means your home's value wi...
by jjav on Saturday June 01, 2024 @05:26PM
(#40549207)
> I’m trying to say that under mortgage, a property isn’t your asset. It’s a bank’s asset.
No, the property is your asset. The mortgage is your liability. Each month as you pay the mortgage you have an expense (the interest part of the mortgage) and a reduction in your liability.
No, the property is your asset. The mortgage is your liability. Each month as you pay the mortgage you have an expense (the interest part of the mortgage) and a reduction in your liability.