Digital currency - mortgage terms Can currency terms of mortgages be changed? Thoughts?
🧐 Research Wanted 🤔
If the banks switch to digital currency (or any other) is your mortgage then null and void? Legally can they change the terms of currency? Can they change terms of mortgage?
Back in the 80s my sister had a Renault and totaled it. She was like 5,000 upside down after the insurance paid fair market value and the bank was demanding she pay. She went around and around with them telling them she worked 30 miles away and that she could not pay if she had no car for work.
Eventually the bank contacted her to go to the dealership and they would take care of her. It turns out the car dealership had signed behind her on the loan (She had bought several cars there) They gave her an Isuzu I-Mark and her loan remained intact. No change in Payment or number of payments.
They just substituted the collateral on the contract. A few years later my Ex and I did the same thing when she totaled her car. No one will tell you that, but the bank and car dealer did that.
I'm sure that there will be a scheme where X dollars translates to X digital currency. They used Military Script during some wars. This will apply to both debits and credits.
I don't think this is how they will seize homes, its more about making them increasingly unaffordable. Renting a home in Tenn. Its 69 years old (Older than me) . Paying 2k, Homes are selling @ 500K in this Neighborhood. With taxes, insurance, and upkeep would cost well over 3,000 a month. Plus house will likely need rewiring.
They are building multi-use compounds with housing, retail, and office space. I'm thinking the plan is to get the younger people to accept that lifestyle and they will keep the rents high on new properties to prevent them from buying.
This is an interesting question, and the only way it will be valid is if the DS/WEF/NWO black hats win.
Which will mean well not be allowed to own our own property, so they’ll with great certainty find I way to seize it.
I see two ways out of this, either we win, or they win.
If we win, we’ll get to keep what we already own, and would probably transition to a better system than now. I’ve bought gold and silver in hope that this happens, and we’re transitioning to a PM backed currency.
If we lose, we’re probably going to end up with nothing (“and be happy”), with very small chances to be able to stay outside the system. I’ve bought gold and silver in dread that this will happen, to grasp that tiny straw trying to stay outside of the new fully controlled system.
Feel happy to add crypto to this as well, but I think it will be harder to get away with bitcoin if we lose, than PMs.
(Not financial advice, I’m just a nobody on a Hungarian throat singer forum)
There maybe small print I’m unaware of, but I think you payback in the currency you borrowed. I had friends you owned a small apartment in Moscow, and after the Soviet Union fell apart, inflation made their mortgage payment insanely cheap because it remained the same. I’m not certain about the digital currency issue. It’s never happened before.
This is a very good question? Because they can’t force you to pay a bill in something you don’t agree with using. But… they can confiscate the property if you don’t pay your bills. So there is that.
Please. They'll move heaven and earth to make sure you're still giving up your shekels, laws be damned.
It's called a ""CONTRACT"", and if you know how to negotiate, You can do one hell of a lot of things with the Contract....
Maybe you should have read it before signing it, and made specific changes to it, then signed it....
If you are allowed to own property after the transition won't the government change the definition of legal tender?