this post was submitted on 31 Aug 2023
1694 points (97.5% liked)
Unethical Life Pro Tips
4754 readers
1 users here now
An Unethical Life Pro Tip (or ULPT) is a tip that improves your life in a meaningful way, perhaps at the expense of others and/or with questionable legality. Share your best tips you've picked up throughout your life, and learn from others!
ULPT Rules:
- Tips must be unethical, tips that are ethical will be removed.
- Tips must provide some benefit to you.
- Post titles must begin with "ULPT" or "ULPT Request", and should be descriptive. The title should explain the gist of the ULPT without needing a description. Post that are walls of text will be deleted at the mods discretion.
- No tips about rape, murder, suicide, or any tips that violate Geneva Convention laws.
- No tip lists, each individual post should be about a single tip. This includes links to articles that list tips.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Are you not required to have a joint life assurance policy as a condition of a mortgage in the US?
lol no, the bank doesn’t care, they’ll just take your house if you can’t pay
You literally beat me to this reply by like 4 minutes haha. Banks were giving variable mortgages to people who could barely afford current rates, they don't give a shit.
I would never ever take an adjustable rate mortgage. That is just begging to get fucked. Like right now for example. My mortgage is like 4.2% but if it were an adjustable id be at like 6+% and be out of a house.
Or when the housing market is booming, they'll repossess the house and sell it again for even more of a profit.
Probably make as much use of the scam mortgage insurance that they can too. I forget what it's actually called but it's a scam IMO. $100 a month baked into my escrow for insurance to the lender in case I lost the house. To my knowledge it provides me no benefit.
Upside is when I refinanced it was taken off. (Think the whole first time home owner program requires it for the initial loan.)
Not anywhere that I've seen, just home owners insurance and mortgage insurance if you pay less than 20% down.
Nope, at least not for my mortgage. The only thing that was required was a home owners insurance policy.
In the US they want you to default. They can flip the house for more than you owe them.
I bought last year and there was nothing in the process that wanted either of us to have life insurance.
Lmao, what? You really think that?