Quote:
Originally Posted by AVGWarhawk
In all reality the bank owns the house until you pay the entire loan. The agreement is you pay a certain amount each month for 15 or 30 years and the bank will let you live in their house until the loan comes to term. You may normally pay more per month without penalty of paying the loan off early. So, thank you Mr. Bank for letting me live in your house until paid at which point I call it MY house. 
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The alternative is the king. One man who demands tribute for his generosity. And that generosity is only for those who can repay the favor.