WhiteWood:




FIXED

A mortgaged home is a property that has a mortgage loan secured against it. In other words, the homeowner has borrowed money from a lender (such as a bank or mortgage company) to purchase the home, and the property serves as collateral for the loan. Until the mortgage is fully paid off, the lender holds a legal claim on the property, and if the homeowner fails to make mortgage payments as agreed, the lender has the right to foreclose on the property and sell it to recover the outstanding debt.

Another bad belle.
If the house appreciates and they decide to sell. Who will take the equity- them or the lender?
If they buy the house for 200k and it appreciates to 250k, them they decide to sell...
Who will go with the 50k? Them or the lender?
See why U are bad belle.

The earlier U climb into the property ladder in western countries the better, not even this period with so much uncertainty and spiraling interest rate.

Maybe the man sponsored the relocation expenses abroad but couldn't get a decent job to make enough money. Maybe the wife was making more money, and started disrespecting the man.

Women should learn not to forget the good days when their husband was financially bouyant and played his role as a man and support the man if the table turns and things becomes tough with the man. Disrespecting or cheating on the man at such low point can destabilise any man beyond comfort.

The life of a man

Siberia01:
mortgage of course..

Very soon the African continent will be empty ...

If Canada had half of our resources..I don't know how developed it will be God

Empty head, Canada has more resources than Nigeria, and has only 38 million people.

''Canada is one of the few developed nations that are net exporters of energy. Atlantic Canada possess vast offshore deposits of natural gas, and Alberta hosts the fourth-largest oil reserves in the world. The vast Athabasca oil sands and other oil reserves give Canada 13 percent of global oil reserves, constituting the world's third or fourth-largest. Canada is additionally one of the world's largest suppliers of agricultural products; the Canadian Prairies region is one of the most important global producers of wheat, canola, and other grains. The country is a leading exporter of zinc, uranium, gold, nickel, platinoids, aluminum, steel, iron ore, coking coal, lead, copper, molybdenum, cobalt, and cadmium.''

https://en.wikipedia.org/wiki/Canada

(And there he was thinking his white gods were magically producing wealth out of nothing.. SMH..)

ffo:


There are ways around it and most banks are considerate. And besides dont you pay for rent? paying for rent for 30 years or paying for mortage for 30 years, which is better?

You can sell your house after 10 years if you dont want the house again and cash out

Eeeheeen
Maybe I need to understand this topic more.

It's not a big deal owning a house in the UK, life is made easy over there if you got a good job because everything can be gotten on credit as long as you have a good credit history, this includes cars, food, clothes, phone, laptop etc, the major problem is that you end up living all your life there as a comfortable debtor

Yes..I'm bragging like you. Own my home 4yrs in Canada!

chyzoo4u:
If you know your onions just like myself (yes, I'm bragging), you can own a house within a year in the UK unlike some discouraging stories some people like to tell.

muyico:
mortgage loan!

You get it!

Congratulations 🎊🎊🎊 thanks for sharing the other good side of the story

Congratulations

chyzoo4u:
If you know your onions just like myself (yes, I'm bragging), you can own a house within a year in the UK unlike some discouraging stories some people like to tell.

Keep fooling yourself. The same UK or another one? You don't own a house until it's fully paid for which can take up to 25years in some instances. Make una dey talk true.

DMerciful:
Yes..I'm bragging like you. Own my home 4yrs in Canada!

Congratulations mahn

EreluRoz:
Nigerian men only behave well abroad 😂😂😂 if Dem born am well make he hit his wife there make them bundle him back to his village.

Congratulations to them

Get well.

You dey enter express road but you still never know.

Mindlog:


Buy a house in the UK in one year, working as what?

Mortgage matter....you can't work and buy a house outrightly in the UK only businesses can afford you that.

Digmygold:


Keep fooling yourself. The same UK or another one?

It's about knowledge.

Person wey no know person dey call am "this one."

Eriokanmi:
You just watch your income vanish even before collecting it. We're actually richer than most of them but na greed dey worry us for naija.

We build our own house with our money, no mortgage. We buy our own cars with our money, no need to worry or thinking about APR all the time, still buy air tickets and travel to where they live but they dare not travel as frequently as we do cos they've got bills to pay. Now tell me, who's richer?

Lol.

How many Nigerians buy houses and cars outright?

They don't give loans in Nigeria to buy these things because they don't trust them.

And how are you saying you travel more than them when your passport restricts you from so many places?

sharpwriter:

Shut up! Not every man beats a woman, not to talk of their own wives.

Leave that m a d woman , she don enter express road....

If you take a date of violent spouses you might be surprised to see ladies toping the chart it's just that men don'take a fuss about it.

.

uncleck:
There's something inherently wrong about Nigeria. What you can achieve in 30 years in Nigeria, you can achieve in just 1 year abroad. Let me tell you guys few stories to buttress this point.

There's this my good friend who worked as a senior lab technician in an FMC in Nigeria. He is married with 4 children. Guess what? The upholstery in his rented apartment are all torn. Life wasn't easy till he decided to travel to Europe. Less than 4 years abroad, his entire family has joined him and he now owns a modern duplex in his hometown; something he may never have achieved even after working for 35 years in Nigeria.

There's this other guy I know. He traveled through desert to Libya then to Italy through Mediterranean sea. Six years from the time he embarked on the journey, he is now a big boy doing a lot of things with money and bringing his whole family from poverty. There are many people in this category.


The Nigerian system is designed to make you fail. I can bet with everything I have that 99% of successful people in Nigeria did so illegally. Either through bribery or corruption or kidnapping or bunkery or yahoo yahoo or drug business or armed robbery. Businesses that succeed elsewhere will fail in Nigeria unless you cheat. Every office in Nigeria is used to cheat and extort people. Gift the police 10 new vehicles and see 10 new checkpoints the next day. The way they dedicate their time collecting money from motorists....

My advice to everyone. If no member of your family is abroad, all of you should contribute and send one person...

Thanks for your contribution. Tinubu's surpporters like helinues, freestuffng, legendhero, yarimo, seunmsg, etc are coming for you but don't mind them. They don't want sane people to leave this corrupted jungle for them.

ffo:


It is very possible,

I got my house in US, within a year of moving to US

Good day.

I mailed you please, respond. Note, I don't need succor from you, just few questions. Thanks.

EreluRoz:
Nigerian men only behave well abroad 😂😂😂 if Dem born am well make he hit his wife there make them bundle him back to his village.

Congratulations to them

Which right thinking and matured man will hit his wife even in Nigeria?

It’s high ignorance to laugh at mortgage.

The highest of ignorant behaviors actually

Siberia01:
mortgage of course..

Very soon the African continent will be empty ...

If Canada had half of our resources..I don't know how developed it will be God

However much it is, it will not be more expensive than paying rent. You know the difference between mortgage and rent? If you move from your rented space, you don’t get your money back.

But if you get tired of your mortgage, you can sell and get everything back

snowland:
How much is the mortgage?

That's what's always lacking is this type of story.

uncleck:
There's something inherently wrong about Nigeria. What you can achieve in 30 years in Nigeria, you can achieve in just 1 year abroad. Let me tell you guys few stories to buttress this point.

There's this my good friend who worked as a senior lab technician in an FMC in Nigeria. He is married with 4 children. Guess what? The upholstery in his rented apartment are all torn. Life wasn't easy till he decided to travel to Europe. Less than 4 years abroad, his entire family has joined him and he now owns a modern duplex in his hometown; something he may never have achieved even after working for 35 years in Nigeria.

There's this other guy I know. He traveled through desert to Libya then to Italy through Mediterranean sea. Six years from the time he embarked on the journey, he is now a big boy doing a lot of things with money and bringing his whole family from poverty. There are many people in this category.


The Nigerian system is designed to make you fail. I can bet with everything I have that 99% of successful people in Nigeria did so illegally. Either through bribery or corruption or kidnapping or bunkery or yahoo yahoo or drug business or armed robbery. Businesses that succeed elsewhere will fail in Nigeria unless you cheat. Every office in Nigeria is used to cheat and extort people. Gift the police 10 new vehicles and see 10 new checkpoints the next day. The way they dedicate their time collecting money from motorists....

My advice to everyone. If no member of your family is abroad, all of you should contribute and send one person...

Look at how you are running your mouth like tap because abroad possibly favour you and some people that you know.

SIRTee15:


Another bad belle.
If the house appreciates and they decide to sell. Who will take the equity- them or the lender?
If they buy the house for 200k and it appreciates to 250k, them they decide to sell...
Who will go with the 50k? Them or the lender?
See why U are bad belle.

The earlier U climb into the property ladder in western countries the better, not even this period with so much uncertainty and spiraling interest rate.

Boy, before you even thought of leaving Nigeria for the UK, I already owned a few properties in the West, all fully paid. While I appreciate the importance of having a place to call home -- the term (Own) you used is wrong -- I can tell, you lack understanding in this matter. My intention is simply to clarify that we should be honest when discussing such matters. The property you currently reside in is not yet truly yours, you are merely occupying it until you can repay at least 80% of the loan used to acquire it. Regarding equity, was the loan you received from the bank interest-free? -- In a few years, when the house is supposedly valued at 250 thousand pounds as you mentioned, will the price of coffee remain the same? Capital NO -- this is not equity as you may have been led to believe, but rather the result of factors such as inflation, your monthly mortgage payments, loan interest, property tax, and other associated costs. While I'm happy for you, I believe it's important for you to understand these realities. have a good day.

chyzoo4u:


It's about knowledge.

Person wey no know person dey call am "this one."

You know nothing. Own a house that will be paid for across 25-30 years? They could lose the mortgage if they fall back on payment. So technically they do not OWN the house yet until the Mortgage is fully paid. Stop trying to fool people Mr "Know All" wey no know jack.

SIRTee15:


Sour grape. They are paying mortgage into their own home.
If they work harder, pay off the equity loan if it's help to buy, they can rent it out as extra source of income and move to a 2nd home
Within 6 yrs of living in uk- they already owned 2 houses.
If it appreciates and they sell, maybe 10- 15 yrs down the line, they can easily make a profit of 50k off both houses.
And let's not 4get they can will it to kids. Property is a strong leverage to wealth building in western countries. It's good blacks now understand the game and are seriously into property.

I ignorantly sold my first house after 2 years when the market was rising and made $80k in profit after all taxes and seller fees. Just two years. This was a while ago and we’ve sworn since then not to sell again unless we absolutely have to. For now, Holding onto any property I lay my hands on.

Mortgage is wealth building. Only fools laugh at it

No they can sell it if they can’t pay anymore and take their profit with them and become renters like y’all want them to be

Digmygold:


You know nothing. Own a house that will be paid for across 25-30 years? They could lose the mortgage of they fall back on payment. So technically they do not OWN the house yet until the Mortgage is fully paid. Stop trying to fool people Mr "Know All" wey no know jack.

Since you know so much, are they better off renting?

Even if they don’t own it fully, the money they have in it is better than what a renter DOES NOT have in another person’s house. No?

Y’all just love to talk

WhiteWood:



Boy, before you even thought of leaving Nigeria for the UK, I already owned a few properties in the West, all fully paid. While I appreciate the importance of having a place to call home -- I can tell you lack understanding in this matter. My intention is simply to clarify that we should be honest when discussing such matters. The property you currently reside in is not yet truly yours, you are merely occupying it until you can repay at least 80% of the loan used to acquire it. Regarding equity, was the loan you received from the bank interest-free? -- In a few years, when the house is supposedly valued at 250 thousand pounds as you mentioned, will the price of coffee remain the same? Capital NO -- this is not equity as you may have been led to believe, but rather inflation. While I'm happy for you, I believe it's important for you to understand these realities. have a good day.

MasterHerbals:
It's not a big deal owning a house in the UK, life is made easy over there if you got a good job because everything can be gotten on credit as long as you have a good credit history, this includes cars, food, clothes, phone, laptop etc, the major problem is that you end up living all your life there as a comfortable debtor

if they don’t have money to pay off their bills every month, do you think they can still afford it?

cococandy:
No they can sell it if they can’t pay anymore and take their profit with them and become renters like y’all want them to be

What if they lose their livelihood in a short while or the value depreciates? You are mentioning profit like it's sacrosanct. Hmph!

Digmygold:


What if they lose their livelihood in a short while or the value depreciates? You are mentioning profit like it's sacrosanct. Hmph!

Value depreciates? Unless it burns down, I don’t know how that’s possible in this market.

If they lose their livelihoods, wouldn’t it be the same as when a renter loses their livelihood? Except in their case they’ll probably have equity to fall back on which a renter won’t have.

If I have $300k in equity, I’m in a better position to lose my job than a renter. I can sell and invest the profit while renting. There is HELOC that you can tap into while looking for another job.
Renters do not have that kind of security unless they have other investments.

Home ownership is investment

ffo:


His choice.
he showed off to encourage others. social media is not only meant for bad news

Only broke people show off.
...and it is not to encourage others.
We know how our people do.

Still carry, 'I better pass my beighbour go abroad'

I know people that bought their first houses at 21.
No noise, nothing.

...make big moves silently.