Quote:
Originally Posted by seattleflamer
Mortgage is by definition a liability and therefore a debt. In my view, it is a question whether you have an asset on the other side of the ledger to balance or exceed that liability to define it as either "good" or "bad" debt.
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If you are considering mortgage a debt, because by definition it is, then you must consider that you own the entirety of the house. By definition the house is in your name and you own it in it's entirety.
So either way you look at it, as long as you are not underwater you have more assets than debts. The house and mortgage as a whole is a net positive asset.