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Good point ... paying down my mortgage faster is a fairly poor use of the funds. However, if it can be used for regular payments or prepayments over a period o
by lief79 4y ago
Good point ... paying down my mortgage faster is a fairly poor use of the funds. However, if it can be used for regular payments or prepayments over a period of time, it's not a bad deal.
I'd hope they'd also make exceptions for any loans under the current rate of inflation, but good luck getting that passed. Having to immediately pay off a 0% loan (if anyone still offers those) clearly is far from the optimal use of the money.
- recursivedoubts 4y agoPeople will be incentivized (and possibly required) to pay off high-interest debt first, which is the right thing. Beyond that, a modern debt jubilee isn't about you optimizing your individual financial situation. Rather, it is about: - keeping it as simple and hard to game as possible - reducing total debt in the economy to a sustainable level If you have to pay down or pay off your mortgage, sorry. On the other hand, you would own a house free and clear. So life wouldn't be all bad.
- whateveracct 4y agoI'd imagine using it on your next monthly payment would be allowed. Agreed - not a bad deal.