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23/03/23
15:09
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Originally posted by Skol:
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If the bank determines that the borrower's situation is untenable, the bank will call up the mortgage and the homeowner will become homeless. A variable rate mortgage would cost more. Who would want a chunk of gold? It would also depend on which country you lived in, in Zimbabwe's case gold would be a winner, but in a worldwide hyperinflation that see people losing their jobs, houses and savings, who would want gold?
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A variable rate mortgage is worthless, if the principal of one million becomes equivalent to a roll of toilet paper within 12 months as happened in Zimbabwe.