A house with a mortgage does accumulate wealth for the owner.
When a home is sold the bank recoups their mortgage and the rest belongs to the owner.
I used my mortgage as an example of how debt can accumulate wealth since you are too ignorant to understand how the president uses it.
Where is my tutorial fee, cono?
A house with a mortgage does accumulate wealth for the owner.
Look at all the trumpsexuals here who are suddenly certified public accountants. lmaoooooo!!!
Do you idiots know that write-offs provide clues as to assets owned? Do you know that loan-interest payments are tax-deductible, and that 15 years of carry-over losses (combined with a measley $400M income earned entirely from NBC over the course of severals years, the network who sued him) means he has no fucking liquidity.Even Trump himself told those interested in getting him to run when they approached him in 2014 and 15 that he was "cash poor" and cannot fund his own campaign. Since then, his licensing and branding money has depleted, and that's why he's over-leveraged with foreign loans who gouge with high rates, and are about to call in the $430M in debt he owes.
If all of that is true, he has no net assets.
Your “sense” doesn’t cut it here, cono.You paid 80% of the house's value when you took out the mortgage?
What is the house worth, $750?
And it took you decades to pay off that remaining 20%?
Something is fishy here. Why do I get the sense you're not being honest or truthful?
Were you left the house in an inheritance? That is what it sounds like.
When a home is sold the bank recoups their mortgage and the rest belongs to the owner.
I used my mortgage as an example of how debt can accumulate wealth since you are too ignorant to understand how the president uses it.
I owe 200K on one worth $650,000 and one free and clear at $1,100,000 according to zillo.
Hey, that makes me richer than Trump!
Better to inherit than not inherit, though. 20% down is what you need to avoid PMI. maybe Earl had it backwards? Who puts 80 down, just buy outright.
Do you have any idea the massive digger you take on our home when the bank sells it in foreclosure? They get 50% of value, typically, and then nail you with 10% closing fees.
You're left with your dick in your hand, just like dipshit donnie. (a dick, by the way, he can only get a woman to touch if he pays $130k).
Why is paying income tax seen as good ?
Wealthy people are wealthy because they use other means to make money.
Remember Buffett told you this.
What does Pedo Joe spend on his new hair ?
My cat has more liquidity than Trump does.
A house with a mortgage does accumulate wealth for the owner.
When a home is sold the bank recoups their mortgage and the rest belongs to the owner.
I used my mortgage as an example of how debt can accumulate wealth since you are too ignorant to understand how the president uses it.
Where is my tutorial fee, cono?
Take a hike, cabron.
This all has passed about three (3) miles over your head.
Your “sense” doesn’t cut it here, cono.
You have already proved that you know squat about business, accumulation of wealth, tax returns, and the use of debt to accumulate wealth.
You should be ashamed of your ignorance.
1. WHEN a home is sold, not before.
2. That is contingent on the house actually getting sold.
3. That is also contingent on the house getting sold for more than it was bought...which isn't a guarantee.
4. At no point is the house "yours" until the mortgage is paid off. Until that time, the house still belongs to the bank.
No, what you just described is you leveraging yourself with debt in the hopes that it will pay off, that the housing market remains strong, and that home prices don't decline.
Taking on debt doesn't mean you have wealth...it means there's a chance of wealth down the line, but that's really out of your control.
Earl is making all this up as he goes.
Debt doesn't accumulate wealth, you mouthbreathing troglodyte, assets do. If you accumulate assets, you can accumulate wealth...UNLESS those assets depreciate in value, which is PRECISELY what has happened to trump, and his tax returns prove it. If you use debt to accumulate depreciating assets, you're getting fucked coming and going (which is better than trump does with Melania).
Debt doesn't accumulate wealth, you mouthbreathing troglodyte, assets do. If you accumulate assets, you can accumulate wealth...UNLESS those assets depreciate in value, which is PRECISELY what has happened to trump, and his tax returns prove it. If you use debt to accumulate depreciating assets, you're getting fucked coming and going (which is better than trump does with Melania).
It means you claim to be richer. You saying so doesn't make it so. Do you have any proof of those claims?
I doubt you have the guts to provide it.
Now you've gone from proof to thinking what you believe about write offs is proof of what you claim.
Did I help you with your ignorance of accumulated wealth, taxes,the use of debt to accumulate wealth etc.?