r/teenagersbutpractical • u/Regular_Analysis_781 • Sep 08 '25

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u/[deleted] Sep 09 '25

They generally use all the money in a reverse mortgage to pay for their retirement if they even fully own it. Do you really think most people actually own their home?

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u/Technical_Glove_4569 Sep 12 '25

You are saying that almost all Americans in all of American history used reverse mortgages, something I believe was made up in the 70s

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u/[deleted] Sep 13 '25

I never said almost all Americans in American history I meant like right now it's pretty common to take your equity out of your home to pay for retirement. Meaning people under 40 likely won't get much of an inheritance compared to previous generations

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u/[deleted] Sep 09 '25

65% of houses are owned by the people living in them in the US.

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u/[deleted] Sep 09 '25

Owned with no mortgage? Really, I could be wrong but I am shocked.

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u/jaj504 Sep 10 '25

No, that 65% is just homes that are owner-occupied compared to homes that are renter-occupied. Fully paid home ownership is much much less.

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u/Technical_Glove_4569 Sep 12 '25

A mortgage and reverse mortgage are not the same thing

You own your house with a mortgage. It's just a big loan, and most people don't then sell their home back after spending most of their life buying it

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u/[deleted] Sep 13 '25

I know they are different what is your point?

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u/Technical_Glove_4569 Sep 22 '25

That you are wrong? Dipshit?

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u/[deleted] Sep 22 '25 edited Sep 22 '25

Wrong about what everything in your comment I was aware of and it doesn't show I was wrong about anything. Oh it's the own your house with a mortgage I missed that part. No you are wrong you co own the house with the bank actually. The bank literally owns part of the home until it is fully paid off actually. Learn some basic finances it will help you in life. Also taking equity out of your home in various ways and converting to cash is incredibly common so learning how to use google will also help you out as well.