Quote:
Originally Posted by blankall
valuations of cash assets change day to day too...what's your point.
I have a mortgage where the value of the house exceeds the amount I owe to the bank. I don't consider that a debt. In fact, if I wanted, I could further leverage the equity I own in the house. It's more like I own part of the house than I am in debt. Without the mortgage, I would own none of the house.
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Wtf? If I have $25K in cash in my savings account I don't have to check each day to make sure it didn't go down in value.
Answer this question please. In your mortgage contract, what happens when you miss a payment? If the answer is, you would default on the loan, you have debt.