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SurvivalGround >> Hperinflation vs you mortgage

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3/27/09 1:27 PM
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kanotoa
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I read up on the subject and I am not sure how hyperinflation would affect me. I have a fixed rate mortgage. Fortunately I have a FIXED rate and I could see my mortgage payment being less than rent in the future, actually I pay less than I would to rent a place like mine.

Basically what I read was that with inflation I'll be doing better because when everyone is using more and more dollars people with fixed rate morgages will be paying the same. I'm sure land tax and insurance will be expensive however. If we switched to the Amero I might be screwed.

Any thoughts?
3/27/09 4:11 PM
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jaywill
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Im pretty happy with my variable mortgage, Interest is 2 % . I am worried about when the market jumps but I have been told by my broker I can lock in any time so as soon as recovery comes , locking in.
3/28/09 12:10 AM
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rolijuju
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How would a currency change affect debts? I think when Obama is done spending we will need a new currency. I have 3 mortgages to my name and wonder what will happen to them.
3/28/09 12:39 PM
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kanotoa
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Seems like banks here hve more money lent out in the form of mortgages than money they borrowed. I guess my mortgage would be converted to Ameros and I have a feeling I'd get raped in the process. Hopefully PMs rise in the process and I can preserve some of my wealth.
3/28/09 2:39 PM
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rolijuju
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scary shit and there is no way to insulate yourself. Money comes and goes but knowledge is forever.
3/28/09 7:40 PM
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The Double Deuce
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I think your best bet is buying your property outright asap and stock up all necessities that you will need for the next 5 years. That is your only shield to whatever happens. Nobody knows how the banks/feds will rape the people. All we do know is that it will happen.
3/28/09 10:41 PM
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Todd22
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what would happen if the world did instate some global currency? Is that when SHTF?

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