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by kneebonian
1091 days ago
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> See also the UK now allowing for mortgages to be passed on to the children of the home buyer, so that the term length can exceed a human lifetime, so as to not explode the monthly payment. This is horrifying that anyone even considered this. That is 100% a straight up return to serfdom. If things get that bad I suggest we take a page out of the French revolutionaries and the IRA on the proper way to respond. |
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The mortgage can be passed on to children, they aren't being forced on them.
My sister got lucky when my dad died that they let her assume the mortgage they took out together on their house. Not having that option would have been difficult for her, because she really wouldn't qualify for one by herself, and the payments on the home were less than it would be to rent something equivalent.
Actually, why not make this an option: children can assume the mortgages of properties they inherit from their parents? Because it isn't automatic right now, even if they are joint on the mortgage already.