Dollar Devaluation Coming Soon

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#1 Mon, Oct 10, 2011 - 11:41pm
AngryCitizen
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Phoenix, AZ
Joined: Jun 15, 2011
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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: AngryCitizen on Nov 8, 2014 - 5:03am
Tue, Oct 11, 2011 - 8:17am
Citizen621
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St. Charles, MO
Joined: Jun 15, 2011
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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!

randomness