A few years ago, a businessman asked me a simple question:
“Is there a place where the bank can’t foreclose on me and the taxman can’t take my house away for non-payment?”
My answer: Buy an island and declare it a nation (that is, if you can get away with that from the country that owns the island).
Or you can buy a boat or ship and stay offshore in international waters indefinitely (next to impossible as you have to land sometime and the banker and the taxman may get you then).
Most people don’t realize that the word “mortgage” in Latin means “measure of death.” You don’t pay and you “die” from foreclosure. And, if you don’t pay your property tax on the same mortgaged house, you die then, too! Oh, I forgot to mention the income tax guys who will take away your assets irregardless of the other two liens.
Home “ownership” is an illusion. You are just a “glorified tenant for the bank and the taxman. Even if you pay the bank off, there’s still the local, state and federal revenue officers to face each year.
Rest in peace each night…if you can!
