₦airaland Forum

Watianoengineer:
Any lady that has been forked with doggy style deserves to eat dog food

Your mother deserves it too.

A drunkard and a cheat doesn't deserve a marriage. Get lost and stop wailing.

AqualinaXYZ:
Let the country continue burning






If you too beg pikin to get sense and he no gree you leave am make he put hand for fire





We don beg una tire to vote right una no hear so make una face the consequences

Don't you think the ELECTION was actually a SELECTION? Have you thought about that deeply before pointing accusing fingers at Nigerians? Are you not a Nigerian not to know how corrupt the system is? Can you apply some wisdom?

Having a male version of Ubunja as teacher. Hmph!

Let him.go and appear in Court to prove his innocence. Victim or not.

MrProlific95:
Fulani's finished Nigeria enabled by Yoruba's like Tinubu

Now they are targeting the South's Educational System. Not wanting our youth to get educated. If only the wise could see. Rip to the Prof.

Omg.

descarado:


I will never be bitter to people I don't know, not worth it.
A lady.

Life is too short for bitterness.
My dad is late. Such a loving man that taught me how to not allow people and events dictate my life.
My post was actually out of concern albeit forceful.
Take care

Easy for to say "I will never be bitter" yet easier to tag someone you know nothing of as bitter. Take care.

NikoDeBonAmi:
If you are reasonable then I ask you, what makes it a norm, was it not invented by someone sometimes back in history, so if you accept it as a norm to your own self why condemn what is norm to another

I believe piercing was made to differentiate male from female.We all know nose piercing is the norm for "ladies of the night". I bet you do too.

Not poisonous.

descarado:
Why are you so bitter?
Extremely bitter.

No be online people put you for your condition.
E go better

Which condition your papa dey? Cab driver claiming Million Dollars. You were rude first yet you did not tag yourself bitter. Can't take what you dish? Typical.

Mr.Cleric is fraudulent. He should be in jail

shaybebaby:
Can't bring yourself to say it eh? Lol

Say what?!

Meeting without purpose. Just wasting the Country's limited resources.

shaybebaby:
Come on! Answer the question and stop trying to wriggle out of it.

If the owner is the party that benefits from gains or incurs losses on revaluation , then who is the owner, the bank or borrower?

"Ownership" is a facade created by the lender to make you believe same. If you owned it, you won't ever be able to lose it to foreclosure. You keep calling it an INVESTMENT. So people don't sometimes lose on investments bah? Dey play.

SIRTee15:
U are the very foolish one. Default or foreclosure, U get what U put in the house and the equity.
The person renting gets nothing.
Who's worse off. Mr penny wise pounds foolish.

The wealth of white Americans today is deeply rooted in the generational property investment.
Indians and Pakistani in UK understand the game and are buying properties like mad here.
Yet some foolish ones are saying blacks should continue to rent.
Are U not tired of being slaves to other races. What exactly is wrong with the black man...they can't think beyond their today.

You are the mad one here. Since you chose to start with the insults. Infact you reason with your butthole. "The wealth of the white Americans" You are daft Like there ain't POOR white Americans. A mortgage is not ALWAYS an INVESTMENT. It can be a BURDEN& LIABILITY too. Get that into you shallow r brain through your butthole .

shaybebaby:
It depends, does it confer the risks and responsibilities on the holder? If yes, you own it.

If no, you don't.

In the case of a mortgage, who bears the risk of properties devaluing and incurs the loss? The bank or the customer?

The answer should tell you who the owner is.

So now the borrower can make a profit via equity but doesn't sustain a loss if the value of the property depreciates? Hmph! Nuff said.

SadiqBabaSani:
Even a pig farms looks better

Sanwoolu will not show us this. Working Governor my foot.

shaybebaby:
Mr man , you do. A mortgage is a secured loan. Secured against a house you OWN. You cannot secure a loan against something you do NOT OWN.

As with all loans, in the case of default, the lender has a right to recover their funds using the security provided. In this case your house.
But...they cannot recover in excess of the outstanding balance of the loan..they get their money back..if anything is left over, you get the rest.

Same as equity investors in a business. They are the last to get paid in the event of a company going into administration. Other creditors will paid first from the business, and equity holders ( owners) are the last to be paid...if there is anything left.

If banks don't own the businesses that borrow from them, then they don't own the houses that are mortgaged either.

You don't REALLY own a home when that home is your collateral. There are downsides to Mortgages too. Stop sugar coating it. If your property declines in value you CAN lose equity. If you buy a car on higher purchase, do you own the car?

SIRTee15:
Buying a house is an investment in itself abroad. The equity is yours and not the bank.
If U don't buy a house the alternative is to rent and be paying for someone's mortgage.
So tell me which is more foolish? If U lose your job, will U continue to rent for free?

DEFAULT and FORECLOSURE. Can you guys just let these two words ring in your brains for a minute? There are down sides to Mortgages too. Stop sounding silly.

Solofresh2:
Na money you like oga

Gbam! Period.

cococandy:
That’s great. That’s awesome. You do not have to pay off a mortgage. Contrary to what you think, it’s not a prison sentence. You can transfer ownership as soon as it’s not convenient for you anymore and walk away with your gains. That’s perfectly acceptable. People do it deliberately all the time and it’s a means of creating wealth. There’s no award to be given for holding onto a mortgage when it’s not serving you anymore.




If it’s not their house I wonder how they can have the authority to sell it whenever they want to.
If it’s not their house, why do they get to keep the profit from the sales?

You just want to argue and dig your feet in for semantics.
Since you’re against home ownership unless they are multi millionaires, why didn’t you answer my question about who’s better off losing their job. The renter or the owner?

I mean you’re the one who brought up the topic of how losing their job can make them lose the mortgage as if they don’t have better options than renters.

Just admit you came here to do that useless thing y’all like to do which is to find a way to mock or minimize anything you read online by trying to prove to know more.

DEFAULT and FORECLOSURE. Let those two words ring in your head, okay? Mr Lecturer.

cococandy:
Okay Mr wise man. Just one scenario for you and I’ll judge if you have the capacity to continue or not.

Two people.

One owns a house. Has been paying for the past 6 years. Has equity on it to the tune of $50-60k (conservatively speaking. Because it’s usually more than that).

The other is a renter. Has been paying rent for the same amount of time as the owner. Has no stakes in the house.

Which one of them is in better position to lose their job? Mr renter who has nothing to fall back on and will most likely be evicted for inability to pay or Mr owner who can decide to get rid of the mortgage, cash out his equity and maybe even downside to a smaller apartment with left over money in his bank account?

"Decide to get rid of his Mortgage and cash out his equity" meaning he ended up NOT paying up his Mortgage.

So now you are back to where we started from which is what I have been harping on. You DO NOT OWN a house until it is FULLY paid for. Full stop

cococandy:
You don’t buy house you can’t afford.

The money tenants

Indeed. People like to brag and there will be a select number who will certainly buy houses they might not be able to afford on the long run. Like people don't lose Mortgages due to falling short in payment. Abeg. Mr. Teacher no teach me nonsense.

cococandy:
In America you don’t even have to pay it off to rent it out. Take it from someone who has rental properties. The tenants pay me and I pay the bank and pocket the difference.

People will pay more for rent because they can’t afford the initial down payment to own yet but you that’s owning will end up paying less and charging them more for the rent. It’s most definitely cheaper in the long run to be an owner versus a renter

I don’t know why anyone who really knows what they are talking about will want to discourage someone from buying a house because of mortgage. Unless they are enemies of progress. If they really know what’s up and they are still saying that, I’ll just take it that they don’t want anyone but themselves to succeed.

An older lady in my life just got rid of one of her properties that she got years and years ago when they first came here and the equity on it was more than enough for a sprawling magnificent compound with multiple properties in their hometown in Nigeria.

Imagine if she had decided to rent for all those years because Mr Digmygold thinks she needs to wait until she has millions of dollars in her account first. She would have been paying rent and trying to save on the side for her project. When she could just pay it into a house she owns and the money is still hers whenever she’s ready to let the house go. Something a renter can’t do.

People really just be saying anything on this forum

And what are you going to do if your tenants don't pay you rent piling up excuses? Are you not going to fall short in payment? It's gonna be your loss not theirs. There's no hard and fast rule to your "they pay me rent and I use that to offset my Mortgage" . Some tenants will screw up your plans. So please have small sense. Status quo isn't always maintained when 3rd parties are involved. Several "Debtor Tenants" abound and you can't do jack about that.

cococandy:
So if someone doesn’t have multi million dollars in their account, they can’t buy a house?
Do you even think at all?Here I was even thinking I was having a conversation with a sensible person.

STFU. Try get Multi Million Naira first nah. Who dash you Multi Million Dollar. On top Cab wey you dey drive or care work.wey your wife dey do? Just be realistic. Stop fooling yourself. Nigerians are no longer that naive. Mortgage Advicer isonu.

Run along on your 25-30 year jail term and stop your yen,yen,yen bragging. Okay?!

chyzoo4u:
I'll honour you with another reply irrespective of the insults. Do you think you only make money only by working for people or government? Have you ever thought I might have business or an innovation that will make me lots of money?

"Wisdom is the principle thing; therefore, get wisdom and in all thy getting, get understanding."
_ Proverbs 4:7

Why are you taking paracetamol for another man's headache? Na you take up Mortgage come jump on Nairaland to fool innocent Nigerians? Wait until your wife starts making babies and having morning sickness making her unable to hustle or assist you first.

Na Mortgage o, not outright ownership. So don't let you gragra get into your head. You go sweat tire for 25years.

cococandy:
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

Go and sit down. If you aren't a Multi-millionaire buying a house abroad just makes you miserable and you know this.

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!

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.

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.

EmptyGarden:
You know see Fish N3500 total for the list? Cook your own make you put one full cow.

3,500 Snail is on the list. Check.