Dollar Devaluation Coming Soon

2 posts / 0 new
Last post
AngryCitizen
AngryCitizen's picture
Offline
Joined: 06/15/2011
Hat Tips: 404
Posts: 74
Dollar Devaluation Coming Soon

Hi Smart People,

I know you are here, and so I ask: What happens to my mortgage, (7 yrs old, fixed rate, 5%) when the $ is devalued?

Do I gain on this deal? If not, how can my contract, which is legally binding under the Constitution, be amended without my consent?

I only promised to pay back $, not gold, oil, or whatever.

Thanks for your smart answer!

Angry

Edited by admin on 11/08/2014 - 06:03

__________________

Frodo: "I wish it need not have happened in my time," Gandalf: "So do I. And so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given to us." J.R.R. Tolkien (1892 - 1973) The Fellowship Of The Ring

Citizen621
Citizen621's picture
Offline
Joined: 06/15/2011
Hat Tips: 241
Posts: 18
re:Dollar Devaluation Coming Soon

Angry,

That depends on your income.  Back in the inflation of the late 70's, I got double digit percentage cost of living wage increases a couple of times.  As long as you stayed employed, the mortgage got cheaper & cheaper.

I don't see that happening this time.  Wages are flatlining while prices rise.  In other words, there is a good chance you ain't near as angry as you're gonna be!

Sorry for the unhappy view - but always remember, people who try to predict the future are always surprised by what actually happens!

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Topic locked
Syndicate contentComments for "Dollar Devaluation Coming Soon"