How long will it be until we all pay rent?

Every dollar ever created was loaned into existence, unfortunately the money required to pay the interest was withheld, this means the debt be forever rolled forward.

Bank of America to offer rentals as foreclosure alternative

NEW YORK — Bank of America says it has begun a pilot program offering some of its mortgage customers who are facing foreclosure a chance to stay in their homes by becoming renters instead of owners.

The “Mortgage to Lease” program, which was launched this week, will be available to fewer than 1,000 BofA customers selected by the bank in test markets in Arizona, Nevada and New York.

Participants will transfer their home’s title to the bank, which will then forgive the outstanding mortgage debt. In exchange, they will be able to lease their home for up to three years at or below the rental market rate. The rent will be less than the participants’ current mortgage payments and customers will not have to pay property taxes or homeowners insurance, the bank said.


I’ll never pay rent again.

I’ll never pay repairs, maintenance, mortgage payments, interest, insurance, transfer taxes, real estate commissions to buy, real estate commissions to sell, title insurance, closing costs to buy, closing costs to sell, or property taxes again. Home ownership is not for me. All my worldly possessions fit on my twin bed and I love finding and moving to a new, spectacular place every two years. So much fun.

I read about this previously

If the bank is acting as landlord who is now responsible to repairs to the property? The tennant / former owner, or the bank.

Could this be a possible avenue for us to gain inspections. Some form of routine bank inspection on these rental properties?

I hire an InterNACHI member to inspect when I lease a home, in part, to document the condition.

When the Obama hyperinflation begins, you’ll be able to pay off your mortgage with your next inspection fee.

I offer that service on both sides.
Documentation for the owner or ther renter.

I too have done this and it is good protection for when a person moves out of a rental unit…It realy saved one client big time moving out from a house and a horse stable … Roy

All my worldly possessions fit on my twin bed

Nick, I’ve heard of:

All my stuff fits in my van
Everything I need is in that truck
“Don’t own anything you’re not willing to part with in five minutes”

I think, you just claimed the crown!

Yep. Having nothing and being old is awesome. It forces your enemies to sleep with one eye open.

You have to work on yourself for years though, in order to get yourself to a point where you really don’t want anything. That’s the hard part.

Actually thats the easy part once you wrap your mind around the fact that you don’t need any material possessions but thats not the way we are taught.

Anyone who buys a property by borrowing from the bank is in a “rent to own” situation. You don’t own the home until it’s paid for and even then the government can steal it from you. It tool me 12 years of rent to own until I owned my home.

From what you have told me, your gun collection will not fit on any bed!

LOL. The registered ones will. LOL