Re: Chinese Execute 2 Girls For Stealing Fish From Pond. Picture.
uh-uh...our housing market has resulted in a situation where people can save for retirement (and pay for rent to a person who can claim the interest on THAT house as a tax deduction)..a guy that I work with rents to 10 families.
Now we have these adds targetting my parents. "Are you asset rich, and Cash Poor..ring 1900ripyouoff".
So once you have paid over market prices for houses (speculators who get a tax deduction form their "losses" will pay over market rates), and then have to pay interest, you retire poor.
NOW, you can get a loan against those assets, which pays you a lump sum, or a monthly payment.
It accrues interest, increasing the amount owed.
BUT CAN NEVER EXCEED THE AS SOLD VALUE OF YOUR "PROPERTY".
great...get poor paying (interest on) over the real worth of a property, while those renting to others get a tax break on it. Retire, and sell the whole lot back to the bank, at your cost.
Liberate \'em all
and let God sort \'em out.