I don't know about mortgages, but most lines of credit have a provision where the bank can demand immediate payback in full or seize the collateral. That's what will happen. Plus interest rates will and must go higher than inflation.
Banks won’t do this with mortgages because the asset (home) will inflate significantly.
The ONLY silver lining with inflation is that there is lots of money to be made by those who recognize what is happening and understand how to capitalize on it.
We’ll all get to be Trillionaires. The downside. A Tank of Gas would cost 1 billion dollars.
True, but you can pay your mortgage off with a couple of those new pay checks.
I don't know about mortgages, but most lines of credit have a provision where the bank can demand immediate payback in full or seize the collateral. That's what will happen. Plus interest rates will and must go higher than inflation.
Banks won’t do this with mortgages because the asset (home) will inflate significantly.
The ONLY silver lining with inflation is that there is lots of money to be made by those who recognize what is happening and understand how to capitalize on it.
Yep. Thankfully loans can't be adjusted without agreement from the loanee. Just wish I could have bought a house.