Topic: War and property mortgage you still need to pay If war destroy your Property - page 3. (Read 503 times)

im currently reading into the blackrock/JP morgan deal being done to INVEST in reconstructing ukraine.. seems its the americans wanting a land grab, not the russians

I also make my own choices, and although I don't completely devote all my assets to bitcoin (crypto), I understand some of the potential and problems it can solve. It can be seen that the current context is very different, controls on the economic system by the government can force an investment to death, or manipulation of opinion distorts the truth. Even with the issue of bitcoin, there are still powerful people who want to inhibit its development, but we are the people who understand the freedom and equality that bitcoin brings. I'm not sure if I'm making a mistake or not, but in the past, I really misunderstood some countries about their toughness on a global scale, only when I encountered and experienced it firsthand. Experiencing those things, I can see the fake faces of those who hold power for profit (or rather, hatred).

That's exactly why I invest into bitcoin, it's always going to be the best one and I do not think that people could ever realize how big and great it could be, and should be realizing that they are not going to end up with a greater result at all. I get that it may not be all that simple to see, but we need to realize that life is not all that simple.

We should be considering the situation a little different in the end, and we need to realize bitcoin is above all other assets that you can invest, because it gives you a freedom to be off the grid and not ruined by governments. Anything else could be ruined by nations and governments, whereas bitcoin can't be and won't be because it's decentralized and can't be changed all that much. We need to make sure that we know the power of it, and invest long term because of that, I do, I think I am making a great decision by putting all my investment into bitcoin and could consider it doing a lot better.

War is bad, and if the economy is bad, it can contribute to the price decline of Bitcoin and some other cryptocurrency that you might have your money on. For those who like to invest in altcoins, if such a project fails during war, that means your asset is gone. Also, what if, in the process of running because of the turmoil caused by the war, you could not reach the location where you kept your wallet private key? Then it can be said that war has destroyed your asset because you will never gain access to your wallet unless you have your private keys. War can destroy many things. coincidental, it could be your private key or hard-ware wallet that gets diatroyed.

This is why diversification is the key on your investments and properties. I personally wouldn't invest on properties that are located near conflicted territories because the value of the properties will obviously depreciate, plus there is a huge possibility that the property will be destroyed or damaged when conflict arises. Better invest on properties that are far from these hotspots, and don't build something on it, just buy it as a parcel of land and wait for its value to appreciate.

Indeed, the legislative framework says that: responsibility for real estate under a mortgage agreement remains with the owner of the property. Including in the case of destruction of housing during hostilities, which on the one hand is force majeure, but does not relieve the borrower of financial responsibility. Yes, in this situation the creditor (during martial law) does not have the right to charge penalties and fines. At least this is how it works in my country, which was subjected to a wild terrorist attack from Russia, as a result of which hundreds of thousands of apartments and houses of Ukrainian residents were destroyed.
But ! We have 2 options to solve the problem:
1. Real estate insurance, which allows you to receive compensation in case of destruction of housing
2. Ukraine has launched a state compensation program for destroyed and damaged housing, which will be a good help for people who have lost their property as a victim of Russian terrorism.

UPD. There is one more subtle nuance - if the real estate was seized by the occupiers, and a “transaction” was made to sell the real estate within the framework of the legislation of the country of the terrorist (Russia), then this transaction, after the liberation of the occupied territories, will be canceled, without any compensation to the “buyers-occupiers” ". This applies to the territory of temporarily occupied Crimea, and the territory of sewers such as the LPR/DPR. Those. people will take possession of the real estate that belonged to them before the occupation

I don't know where you live, but in most normal countries properties under mortgage are insured against such risks.
I don't know about any banks, that will give mortgage loan to anyone, when the house/apartment doesn't have insurance.
The property insurance must include risks like floods, earthquakes, fire, etc. I don't know about the insurance companies including wars in the insurance policy, but there must be such coverage for sure.
I'm no expert in laws, but i think that a war can be considered a "force majeure" event, which can be used to break contracts, including mortgage loans.

Fortunately, today we have many ways to protect our assets, and bitcoin is an option that I always believe is great. I have had some experiences and been in contact with a number of people in places where there had previously been complicated conflicts (in Vietnam), a former soldier once shared with me that at a time when the conflict just ended and when the US withdrew its troops from Vietnam, there was a lot of chaos about the asset transfer process. He shared with me that at that time their people were very poor, only a few were able to accumulate wealth but could not carry it with them because of the chaos at that time, and the way they protected it was to bury it all. All that wealth goes into the ground, and it will come back for it when things settle down again.

Returning to the story of the conflicts going on now, because we may live in a more stable place, we cannot understand the feelings of the people there, but I know that keeping our lives alive can be difficult. Obtaining support for food, fuel, medical equipment, etc. is always a top priority. Assets such as money, houses, gold, cars,... are almost worthless because they cannot solve the problem they are facing.

  I think that if it is mortgaged to the government and you have to pay it no matter what happens to your land or property, if there is a war and it affects your property, causing it to be damaged, you have no choice but to pay it anyway.

  Or, depending on what was written in the terms of the agreement at the time you mortgaged it, Maybe if your property is insured, you can recover the cost of the damage caused by the war to your property from your pledge if it is included in your terms of agreement. But usually, it is not covered by insurance, especially if it is damaged in war.

But there are other things like this situation you may see anyway here's the link below
https://ti-ukraine.org/en/news/money-or-housing-certificate-compensation-for-property-destroyed-by-war/

Getting a mortgage in a country that is more likely to get into conflicts means interest rates are high as the bank or whoever is financing has to take the risk involved and depending on what terms and conditions one signs up for, I want to believe that these loans can follow you if system doesn't break.

But should the war tear through peoples livelihoods... I think these might be written off as bad debts unless they can find the people they gave the money... otherwise high rates should compensate for the uncertainties that are to come.

Forgot about insurance, but it means the lender pays high premiums for them to claim on such, but what's the possibility  that they would not pay for damage caused by war like they don't for the so called "act of God "

Maybe this is quite good advice for some people who live in countries experiencing conflict because currently cryptocurrency is considered a fairly safe currency and can avoid the threat of war and is also known to have quite high potential. So this is considered an effective and solution to securing your assets.

However, not for me, because I live in a country that is quite safe and not currently experiencing conflict, so it would not be wise if I had to invest all my wealth in crypto or other similar currencies. Because I still have the opportunity and opportunity to build and develop a more profitable business. So for now I only set aside part of my money to be able to invest in crypto, while for the other part I choose to invest in other fields or create personal economic independence by building a new business.

Once again, what you said is a pretty good solution, but due to different conditions, this cannot be accepted and implemented by everyone.

You are comparing two opposite things. Crypto is something you own but the mortgage or generally debt is something you owe.

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Not really though, in most of cases the asset is under mortgage and will be insured by the lender so they can claim for the loss if needed and it really depends on what you are agreed when signing the contract. In some parts of the world, natural calamities/war or anything that destroyed the property that is still under mortgage has to be paid by the borrower no matter what.

I think for now I don't need to bother doing that and sell all the assets and property that I own and put them into stablecoins or BTC, I think that this is something that is too excessive. However, currently several countries, especially Europe and the Middle East, are experiencing quite tense conflicts that pose extraordinary threats to the world of trade and the economy.

However, you need to know that I live in Southeast Asia, which is considered to be the safest region from war conflict, so the economic and trade conditions are different from countries currently experiencing conflict. and even the prices of assets and property where I live almost every year experience price increases, especially immovable assets, such as houses and land

Mortgage is for people has a functioning government and job to pay back. In my country, we don't leave in houses in that system, rather we live in a conducive house you can pay rent for and the price depends on the development of the area. Reason why we don't do mortgage here is because the interest rate and inflation will kill you while you are still alive paying for the house you plan to pay on installment for the rest of your life when the minimum wage is very little to survive. I believe this applies to some other countries as well.

Real estate is not a small business to even begin with, but you are right about buying crypto instead of Real estate. However, it also depends on where you live, there are places that since there developing stage have not for once experience war or conflicts and are doing well today in that real estate you are running from but I agreed that it's not a wise decision to that in war zones.

In addition, I hope you also know that cryptocurrency is also a risky investment, you have to be vigilant of the type of coin you buy, when to buy and where to keep them. More precisely, buy bitcoin because all other coins depends on its growth and it is circulated by institutional investors that want to see it grow in value because they also hold bitcoin.

Yes ,Bitcoin is safe than investing in property.No one can destroy your Bitcoin and no one can conquer it because  tenant can capture the property .Also in War,if property is damaged all loses are of you,Bank doesn't matter if war destroys you house ,they will be at your door.So invest in Bitcoin and invest for a couple of years and after some years you will be lucky person who will get a lot of money without effort .You will be richest person in your area and no one can damage your assets because no one knows what is value of your assets. Bitcoin has a power to make Rich person because it's value jump in nk dollars and no one can imagine it's jump
and there are thousands of millionaire who became millionaires by one and only Bitcoin.

War doesn't happen on your property, it's one of those non-negotiable shit that you still can't do something about. What you have to look forward to is reparations. Some countries who lose the war, like what happened to Japan and Germany in the 2nd World War, were forced to pay for reparations to countries that they invaded. Doesn't matter if they're fucked economically themselves, they have to do that as a symbol that they yield and as a little "sorry g" letter to the ones they committed atrocities against.

And it's not like you can't just choose to not build a house even if it's within war-stricken areas. It's like telling someone that's starving to not eat just yet cause there are people who are hungry outside and they might take away their food.

Correct, the priority should always be to keep your life, your health and for the same to be true for your family members, and while I can understand the argument of not keeping ownership of a property in a war zone as indiscriminate attacks can happen at any time, leaving should be the priority, especially before the conflict starts as this is the easiest time in which this can be done, as once the war has started there is no way to leave without risking your life as well.

This is the more reason that we need to take some insurance policy to guide ourselves and properties against eventualities. It is not out of possiblity that things that can destroy whatever physical property we have can occur and we are left at the mercy of ourselves. But with the insurance policy covering houses and auto insurance, such car will not go unredeemable for the owner. I under people run away from premium because of how much involved but it is rewarding when you have such an accident.

disaster is why mortgage companies DEMAND the mortgage payer also pays for insurance..
and that insurance policy HAS TO cover the risks of the area. which means premiums can increase
even if the physical property is just a hole in the dirt. the mortgage company still gets value back. .. but yea the person is homeless

what happens though. even if a home is not bombed
each year when the insurance premiums renew. the premiums increase when the risk increases. to a point its better that the resident sells up or just default and relocate

and thats what most do. many people are ECONOMICALLY displaced. even in war. even if your suburb has never been hit by a bomb but is within a "risk zone" of a war torn area. just the economic strain of trying to fund the cost of a house makes people give up living in that area.

many people would stay at their home and just outlive the war, but its the cost of living that makes them get displaced
many people do everything possible to try to stay in their home. paying the high premiums, hoping the war will be over before the next premium increase of their insurance. hoping the war would end and the premiums drop back down to affordability.

We do know that there's no way that we cant really be able to tell if war would happen or not into the place on which we do have a property mortgage but its impossible that you cant really be able to assess out
before you would really be making out some decision on buying some property because if you do see that the said property is really that located on a place on which war possible then for sure you would really be passing out.
For those whose places then for sure those owners would really be having insurances on which we do know that it could really be having that application when it comes to insurances on which it is really that a normal
approach as an owner yet we cant really just that be so dumb on not to assure or get insurance since you do know about the possible situations on which it is really just that right on getting one.

You would really be having that peace of mind if you do get insurance but of course and as far as i know that insurances on properties are really that expensive
but if you do see that it is really that able to potentially protect your investment then its really that worth.