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.
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.
Long: Gold, Silver, Platinum, Palladium, Real Estate, Stocks, Oil, CAD (although currencies scare me if there really is a world economic reset).
To me, owning precious metals and real estate is the safest play. Leverage up on real estate.
Yep. Thankfully loans can't be adjusted without agreement from the loanee. Just wish I could have bought a house.