Quote:
Originally posted by Griff
Mortgage? Whats that? 
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A mortgage is an arrangement where you lease property from the government and the bank rather than a landlord. Main disadvantage is it usually requires a substantial down payment. Main advantage is that some of the lease payments are tax deductable and other parts of the lease payments go into something called "equity", which you can borrow from when something goes wrong with the house, or put into the down payment on the next one when you sell the current one.
--MTR, 6 payments into a 20 year...