You never really own property. You rent it from the finance company and the county/state. When you have paid for it twice over or more in principal and interest, your rent (property tax) to the county/state is still due every year and they can take it from you if you don't pay up.
You never really own property.
You rent it from the finance company and the county/state.
When you have paid for it twice over or more in principal and interest, your rent (property tax)
to the county/state is still due every year and they can take it from you if you don't pay up.
If you live in a state without personal property tax, that is about as close as you can come to truly owning real property. In the communist state of Washington where I live, people with guns will come and take your property if you don't pay the tax.
If you live in a state without personal property tax, that is about as close as you can come to truly owning real property. In the communist state of Washington where I live, people with guns will come and take your property if you don't pay the tax.
They also raise the demanded sum every year based on arbitrary numbers. After a some decades your tax payments can become higher than than the original value of the house.
They also raise the demanded sum every year based on arbitrary numbers. After a some decades your tax payments can become higher than than the original value of the house.
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