Quote:
Originally Posted by aerohead
No financing, no full-coverage requirement.
' A lender nor a borrower be.' Jesus of Nazareth
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Is it considered borrowing if one has the cash to cover the loan? When I finance, it's strategic to take advantage of interest rates lower than what I can earn, and to deduct the mortgage finance charges. Call my loan and I'll cover it with cash.
Part of the wisdom of not lending/borrowing is eliminating a big cause of slavery. Modern finance laws no longer include literal slavery, but instead distribute financial risk to many stakeholders. Instead of a 1 to 1 lending relationship, it's 1 to many.
In general I'd agree that borrowing from the future is generally a foolish exercise.