A government that takes on debt in its own currency like the US isn’t going to default except perhaps as a political stunt. The likely outcome is that they let

A government that takes on debt in its own currency like the US isn’t going to default except perhaps as a political stunt. The likely outcome is that they let inflation eat away at the debt until the ratio of debt to GDP is back to a more normal level. This benefits anyone with debt including those with a fixed rate mortgage. Where people could get into trouble is if they take out a variable rate mortgage because rates will probably rise as inflation heats up. The other risk is I f the economy hits a bump and you can’t get or keep a job that pays the mortgage payment. These can be mostly mitigated by not trying to over extend yourself financially.