Mortgages and Drugs, the Side Effects

Mortgages and drugs – so much alike

Mortgages and drugs are so common in our culture today.

They can be good – or bad.

It all depends on how they are used.

Think about drugs.

Drugs can be used for a good purpose, or a bad purpose.

Drugs have a great purpose when dispensed by a physician for a diagnosed medical condition. But even prescription drugs in these situations can have side effects.

For example, you don’t have to watch much cable television to see prescription drug commercials. While much of each commercial extols the virtues of the wonderful, improved lifestyle you can have, there is more they must say. As these images of the new awesome lifestyle you can have continue to play on the screen, the announcer lists all the possibly negative side effects that you could experience from the drug. Try a quick online search to see for yourself.

Why?

The benefits can be real – and the side effects can be real.

Just like mortgage loans.

A worthwhile purpose

As I mentioned, drugs can be used for a very worthwhile purpose to improve a patient’s medical condition. Yet the side effects can be very real, so the drugs must be used sparingly and in the right way.

Mortgage loans have a very worthwhile purpose.

You can buy your home many years sooner than would otherwise be possible if you had to save all the money first. And most people would never be able to save that much money. So they could never buy their own house and they would be enslaved to rent payments forever – building wealth for a landlord instead of themselves.

However, the mortgage loan can have the same side effect. Even though you now own the house, when you make the payments over thirty years, you make the lender rich. The lender WINS, you lose.

Keep reading to see why.

Dangerous

Too much of any drug, whether prescription drugs or illegal drugs, is dangerous. The negative side effects are magnified when you increase the quantity.

A mortgage loan can encourage you to buy a house that is too expensive. Lenders and typical run-of-the-mill loan officers make the monthly payments look so easy, and so affordable.

But monthly payments can be so tempting to entice people into a loan that is not really affordable for them.

To buy too much house, and then have trouble making the payments later.

And once the commitment is made, it’s too late.

Either make the payments, or default on the mortgage.

Default and go through foreclosure.

Default and lose the house.

Default and ruin your credit for years to come.

That’s the danger – and it’s real. I’ve seen the aftereffects when it has happened to people after they worked with a typical run-of-the-mill loan officer who pushed them into a loan they really couldn’t afford.

Then I tried to do whatever I could to clean up the mess. If possible. And by that time, it’s not always possible. Then people have no choice but to suffer through the consequences.

It’s no good. Just because people were not warned and protected against the side effects.

Expensive

Drugs are expensive, whether they are the prescription kind, or the illegal kind.

Much of the expense of a prescription drugs is masked by our medical insurance system which hides the real cost.

Mortgage loans are expensive. When you make the regular payments over thirty years, you pay back double (or more) what you borrowed. Even though you thought you had a low interest rate, the interest you pay over thirty years is really like 100% – that’s expensive! See more here.

Much of the expense of a mortgage loan is masked by our culture of debt, and the advertising that focuses only on interest rate and fees and does not reveal the total cost over years – nor does this advertising say who gets rich from your work and your mortgage payments.

Addictive

Drugs can be addictive, especially illegal drugs. Even prescription drugs. Addictive to the point that you need more and more to get the same effect.

When used under the proper care of a physician, the addictive nature of prescription drugs can be managed.

Borrowing money for a house can be addictive as well.

You can be addicted to the idea of having a bigger, nicer house than you can really afford.

You can be addicted to the idea that the only way to have a nice house in today’s culture is to make payments for the rest of your life.

You can be addicted to the idea that you have to keep up with other people, and the only way to make it affordable in the short term is with loan payments – even though it is distinctly unaffordable and expensive in the long term.

The addictions with a mortgage loan are less obvious than with drugs, but they are just as real.

Others become rich.

Pharmaceutical companies become wealthy selling prescription drugs. All the television advertising should be evidence of that. They wouldn’t advertise like that if it didn’t benefit them.

Illegal drug pushers become wealthy selling their drugs. If they didn’t, why would they risk all the dangers of smuggling drugs into this country illegally, selling them on the street, committing all the crimes that go with it, with the risk of a lifetime of imprisonment if they are caught? The money would have to be worth it to risk all of that.

As I mentioned above, lenders, banks and mortgage companies become wealthy from your loan payments.

Unlike illegal drug pushers, they are not doing anything illegal. It’s all perfectly legal.

But why do people let them do it? Why do people continue to make thirty years of loan payments, paying back double or more what they borrowed, making the lender rich instead of themselves, doing the work like a slave for the rest of their lives?

Why? Because most people don’t know any better – and they don’t know how to change it. Probably because they worked with a typical run-of-the-mill mortgage loan officer who didn’t know any better either. Who only talked about interest rate and fees. Who also had no clue or interest in how their customer could pay off the mortgage and all their other loans quickly.

Your solution to the drug problem

It goes right back to your most important choice – who will you work with?

A typical run-of-the-mill mortgage loan officer who will only talk about interest rate and fees – and has no clue about any of this?

Or a Real Mortgage Consultant who understands this and will help you use the mortgage loan like a physician will help you with a necessary prescription drug?

The choice is obvious.

The Real Mortgage Consultant uses the mortgage loan as a tool to help you – just as a physician uses the prescription drug to help you.

The Real Mortgage Consultant helps you manage the negative side effects of a mortgage loan – just as a physician manages the negative side effects of a prescription drug.

The Real Mortgage Consultant is your clear choice.

You can WIN with a Real Mortgage Consultant. You will lose with a typical run-of-the-mill loan officer.