Every American longs to own their own home. It’s the American dream right? For many years home ownership was a great investment. Owning a home meant you had assets, financial worth, and borrowing power. It was easy to get equity loans for whatever purpose if you needed to do some remodeling or just pay off some debts.  The value of homes steadily continued to rise from year to year until the housing crash October 2008. Now many find their mortgages upside down, their homes are worth less than what they owe. More homeowners are going default in record numbers on their mortgage loans and the government is stepping in to help with new programs to rescue the home owner.

Now considering the economic uncertainty all around us you have to ask yourself is home ownership worth it anymore? A debt contract for 15 to 30 years. By the time the house is paid for you’ve paid the original selling price of the home almost three times over. More and more its seems like a home mortgage is just a trap. In years past the American family was very mobile, selling the home and moving to another city or state for a job transfer but now home sales have slowed and it’s increasingly more difficult to make such a big change. I even profited in selling a house a few years back that had risen in value in just five short years during the boom time and made a $25,000 profit which helped make the move to another state so easy. Now my current home is valued $20,000.00 less than it was valued at just two years ago. If I had to move now I would not likely make any profit at all.

Before this housing crash my thinking was that owning property was better than gold and maybe it is only if you own it outright. We have all watched the home values increase for so long, I fully expected it should continue so when we received a large inheritance we invested $50,000.00 into upgrading and remodeling our home. My thinking was that this was an investment and we will get that back someday. It will pay for itself. Surely my home will rise in value because of the upgrades we did. Only I never expected my husband to lose his job so soon after our money was almost spent. We were on the verge of doing a refinance when the bad news came. We were desperate to lower our monthly mortgage payment. But without a job the chances of refinancing came to an end. We had enough money to carry us for three months without failing to keep up with our debt obligations. It was four months before he found work. The new job was half the pay of the original job so difficult times were to follow. All the work in keeping up with the bills in raising our credit score was to no avail. All it takes is one mistake, one late payment to knock down that score. Negative information stays on your credit report for seven years. So much for progress. We are all reduced to a number on a piece of paper our credit score. Does that really show our real value? Banks won’t talk to you to negotiate if your credit score isn’t high enough. The dilemna cased me to do some deep thinking about the system. How unfair it all seems.  It’s as though it was all designed to keep us eternally in debt, struggling to make ends meet. We were so close to reaching our goal and just like that everything changed.

It did not seem to matter all the months we had paid our bills on time, that we don’t rack up credit debt, that we paid off one mortgage in the past, and paid off old bills, that we live on a cash basis for everything except for autos and a home mortgage. We pay our taxes and we educated our children at home not using tax payer money but funded our homeschooling program ourselves. We were not on any federal program receiving benefits for medical, food, or housing. And we did this for a large family of six children for over 25 years. We were self-sufficient, a burden to nobody. How could we not be seen as responsible trust worthy, non-risky people? My conclusion is the system is corrupt, meant to tie our hands, prevent us from progress, to make us all become dependents on the banking system that is controlled by the U.S. government.

How can one rise and be freed from this corrupt system? The answer, become debt free, going back to the old Biblical principle “Owe no man, anything.” If you have no home mortgage, auto loans, or credit debt you will be debt free, you will have extra money for whatever causes or needs arise. If you owe nothing, it does not matter what your credit score is. Think about it a credit score is for the purpose of borrowing money, accumulating more debt.  “The debtor is a servant to the lender”, another Biblical principle. So if you owe anyone anything, you are merely a slave with a number. Your number is your credit score, your value to the banking institutions. If more people would free themselves from bank debt we could cut out the banking institutions power over us. If you have no need to borrow money, you don’t need to worry about your credit score. If you have no debt you will be living a truly free life.

These reflections sent me on a quest to do that very thing, become debt free. I am building a multifaceted online business. My number one goal is to free myself from the burden of the home mortgage. My plan it to pay off my house in less than seven years. I want no part of the corrupt financial system that ties my hands behind my back. I refuse to surrender my freedom and power to the powers that be. I am worth far more than what my credit score may say.

Live like a winner

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