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As a bona-fide child of the turbulent '60's I get protest. And I'm perplexed at those who can't quite define the Occupy Movement. Anyone in this State that's had a mortgage, or has tried to GET a mortgage, in the last few years should clearly feel the shared interest in the cause.
Seriously, (and certainly not trying to be flip here) I’ve been thinking about how one could make a statement that’s effective and get’s felt by the institutions (AKA: The Man) that we want to wake up. I’ve got one subtle idea. It’s really good…
If you can: buy a house with a conforming mortgage. Then make all your payments. Add a few bucks to the payment and pay it off early.
The Man will hate this. The Man does not like you to have 4% interest for thirty years. The Man wants you to rent. The Man wants you beholden’ to a variable loan rate, a Landlord, a lease term, ever increasing rents, debt, sameness, conformity and beige.
The Man wants you to get a low appraisal, gig you for points, wants your lock to expire, wants you to WAIT to buy a house. Why? Because interest rates will go up. The Man wants you to wait so that home prices will rise, which means higher fees. The Man’s exposure to risk will also lessen, and the return will be oh so much better for The Man.
It’s sort of a quiet protest. In a way, it’s opting out of the system and it’s gaming The Man. So those who can, should. It’s not hard to see the logic in the math. Then you can occupy YOUR street… Just a thought.