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I don’t understand how the government gets a property tax: the mortgage interest goes to the bank, not the government. What am I missing?
by dave4420 4y ago
I don’t understand how the government gets a property tax: the mortgage interest goes to the bank, not the government. What am I missing?
- naveen99 4y agoBanks aren’t going to keep 50 year fixed mortgages on their books, unless they are like 8+%. British and European people expect mortgage rates closer to 0-2%. Only government can finance that (with pseudo tax in the form of mortgage interest).
- dave4420 4y agoI don’t believe we have anything like the American Fannie Mae / Freddie Mac in the UK.