Okay so to be clear here the morbid meaning people are taking from this isn't what was intended A mortgage being a "dead pledge" is supposed to be a good thing -- it's *better* to have a dead pledge than a living pledge, it means you're the real owner of the landhttps://twitter.com/MerriamWebster/status/1380942587134156804 …
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Whereas rent-to-own is pretty often, you know, a scam As are other "living" debts like carrying a credit card balance
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This is the big difference between a home mortgage and a car loan, the latter is a "living pledge" You do not own the title to a car when you finance it, you haven't actually finished buying the car, you WILL buy the car AFTER you make your last payment
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As opposed to a mortgage where you HAVE BOUGHT a house, the title to the house is yours, and now you owe the bank money Legally, it is a very different situation and this difference can have serious consequences
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(By this ancient definition, a lot of "mortgages" on homes blur the line between a dead and living pledge, like the fad for a while to offer ARMs with an introductory teaser rate and then continually refi You know, the thing that collapsed the whole US economy)
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