South Portland Mayor Misha Pride tells seniors to take out a reverse mortgage

[RoshawnMarkwees]

Then they don’t need a reverse mortgage. Just sell their Portland place and move to a red state.

And do to that red state what they’ve done to Austin and NOVA and are doing to Nashville?

 

[marvin martian]

And do to that red state what they’ve done to Austin and NOVA and are doing to Nashville?

Thank you, no. If you're a DemoKKKrat, stay in your blue state! Don't ruin ours!

 

[Lisa558]

And do to that red state what they’ve done to Austin and NOVA and are doing to Nashville?

Point taken. It’s better they stay in their blue state.

 

[Polishprince]

Well crazy raise in value leads to crazy taxes. Y

That really depends on whether the crazy raise in value is localized, or if its generalized over the entire taxing jurisdiction.

If everyone's value is going up more or less equally, a responsible school board would just lower millage rate so they wouldn't collect more in taxes than what they need. OTOH, if property values go down, raising the millage might be needed if the board is faced with the same expenses to fund

 

[evenflow1969]

That really depends on whether the crazy raise in value is localized, or if its generalized over the entire taxing jurisdiction.

If everyone's value is going up more or less equally, a responsible school board would just lower millage rate so they wouldn't collect more in taxes than what they need. OTOH, if property values go down, raising the millage might be needed if the board is faced with the same expenses to fund

Lol, housing across the nation has gone flat insane. Even more laughable show some examples of where any school districts any where have lowered the mills before expiration of current mills. Private equity is buying as fast as they can. They trying to make everyone a renter. They keep chasing me from town to town. For now I stay ahead of them Only a matter of time before I run out of town where the don't have buyers bidding.

 

[Ms. Turquoise]

I’m sure many of these Boomers are Democrats. Now they are learning the painful truth that Democrats take. My advice to them is to take a reverse mortgage, move to a red state and either sell or rent their Portland residence.

Don't you have to LIVE in the house if you have a reverse mortgage on it? In that case you can't rent it out.

 

[Ms. Turquoise]

Message to All: DON'T take out a reverse mortgage, no matter how desparate you are. Those reverse mortgages are nothing but a scam; a way to steal your children's inheritance. They should be ILLEGAL.
If you can't afford your house any longer, sell it and move. Keep the money yourself, don't let the scammers rob you.

P.S. That South Portland mayor should be ashamed of himself.

 

[Rogue AI]

Seniors in South Portland would be better served donating to better politicians that would lower those property taxes. There is a remedy, they have only themselves to blame if they do not use it.

 

[Rawley]

As the gov't become more insolvent, they will look at the wealth of the Baby Boomers as a way out.
I don't see the ruling class letting the Boomers keep their wealth or pass it on to their survivors.

What an asshole.

 

[Foxfyre]

And when they die, corporations/government takes over their property as their children have no inheritance.

It is what socialism is all about.

Not socialism so much as Marxism. The goal of Marx and Engles was to strip property from those who have it and make it all part of the collective to be shared by all. What they never factored into the equation is that when the system gives to those who do not work for it and those who work do so without reward, there is little incentive for either to produce so all become poorer and there is not enough for everybody.

When capitalism is allowed to flourish, when there is need someone will seek to profit from that by filling that need.

 

[LeftofLeft]

Don't you have to LIVE in the house if you have a reverse mortgage on it? In that case you can't rent it out.

I don’t know…. Never been a fan of reverse mortgages.