"Homeowners " dont really own Part 2. When you fall short on mortgage and property taxes what happens to the home you "own"?

If you dont pay your rent, you get kicked the curb. Your credit score plummets and you find it near to impossible to rent again without a high cost.

When you purchase a home, the money you pay monthly turns to equity.
Meaning you get it back.
I haven't rented since 1983.

that sorta depends; it sounds like you're arguing against owning a home - and for some people that's the right path. but if you've had a mortgage on a property for more than say 10 years or so and made regular payments, kept up with taxes and all and then lose your income and have an eviction/foreclosure when (possibly if) the property is sold if it's sold for more than was owed (and if that difference is greater than penalty/late fees/et al) it ends up going back to the owner. and while taxes will and usually do increase over time it's almost never at the same rate that rentals increase from one year to the next.

when you're ready to leave/stop owning a property/divest yourself/move, the property is something that (almost always - there are some circumstances where the rule breaks) increased in value - a rental is something you will never get any return from. unless you're the owner of the rental. and then you get back to the problems of ownership that include lending, taxes, et al.

taxes will always be there on property but that applies to all property - land, homes, vehicles, there's not really a path around that. at least not one that's advertised and legal.

My house is a saleable asset. I pay council tax which pays for local services, but I also pay car tax so there's no real difference there. If I default on debts then any of my possessions could be taken away, not just my house. If the ability to have something taken from you is a measure of whether or not you own it then really you own nothing but your body.

I could sell my house and have the full value of it in cash. You have no assets for your rent.

Or they sell their home and get equity back. Just depends on the market and how much they put into it

Were in 2024. If people didn't know that about mortgages and then i wanna get off this fucking planet
If you default on payment they can take your house away cause you dont own it
And you also pay interest too. So theres another disadvantage

Lost my house after 22 years. Only owed 12k.

If you have a mortgage you don’t own it the bank does.

The same as any contact you default on

Well you have to pay for it yes. I said that on your last post.

With allodial title,no worries.