War and property mortgage you still need to pay If war destroy your Property - page 4.

Twentyonepaylots

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Quote from: bittraffic on October 29, 2023, 12:28:27 PM

Are you already expecting the war with Russia or Israel to bomb your house?

This isn't the case, the OP didn't stated this on his post, he's probably curious on what will happen to property owners, house owners on conflicted areas.

Quote from: bittraffic on October 29, 2023, 12:28:27 PM

I was planning this myself to only hold crypto and just live in a van until everything settled. But this will be possible if I have no family of your own.

For me, living in a van is a dream, coz I only think of the bright side of it like getting to places with your van but after thinking some possibilities of problems along the way, I stopped thinking about it ha!

Quote from: bittraffic on October 29, 2023, 12:28:27 PM

But why give the property to the bank? You can always just make them repossess your property or continue to pay them until it becomes ruins when bombed especially if you live in the conflict region.

Because banks doesn't care if the property is near or within the high conflicted areas, they will sell it even the lowest possible profit or just make even for that property. I'm not sure if property owners have any rights to ask for bank's compensation or provide any insurance for the property. I guess that's the best option they could give when selling it in the first place.

ajiz138

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What if someone is in a friendly country, of course any property would be worth more than the bitcoins and stabelcoins you mentioned, are you referring to the conflict between Israel and Gaza or Ukraine and Russia?

I wouldn't put it all in bitcoin, of course property is very important for ourselves as a place to live it is a matter of friendliness in a country then it will be fine no need to think about war being a mortgage because of the banks.
I am in a country where there is no conflict whatsoever, so it is not worrying, even if storing assets in bitcoin is indeed important but at least diversifying is much better.

bittraffic

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Are you already expecting the war with Russia or Israel to bomb your house?
I was planning this myself to only hold crypto and just live in a van until everything settled. But this will be possible if I have no family of your own.

But why give the property to the bank? You can always just make them repossess your property or continue to pay them until it becomes ruins when bombed especially if you live in the conflict region.

macson

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Quote from: Fullbear2222 on October 29, 2023, 09:21:06 AM

There is no rule that war Will make free of mortgage payments.
Now it's better to own only cryptocurrency becouse crypto is untouchble by war and you can take it with you If you move in world.
Now it's not good own nothing i sell everything now and put in stablecoins and btc.
Now it's better to give your Property back to bank instead of owning i have mortgage i told my bank take it i Dont need i'll just rent apartment and hold most of my wealth in crypto.
Imagine war will destroy your Property and you still have mortgage better IS to give mortgage property to bank let them have it.

Nobody dont protect your wealth If not protect yourself safety first.

what you say here is correct, if a major war happens then there is nothing we can do, all property will definitely be destroyed, especially if you live in a country where there is war, it is very dangerous, including the property you own will be in danger. but property is still important, if you don't have a house then how will your family rest, i still recommend that you have a definite residence even though it requires you to pay the mortgage but you also have to have other investments in bitcoin, currently bitcoin is one of the assets hedge investment, don't miss investing in bitcoin.

Gozie51

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Quote from: Fullbear2222 on October 29, 2023, 09:21:06 AM

Imagine war will destroy your Property and you still have mortgage better IS to give mortgage property to bank let them have it.

Anyway, you just trying to mention the advantage of cryptocurrency over landed properties and yes in some aspect it has advantage but likewise property also has it own advantage.

Like you have mentioned in war season that houses get destroyed, no doubt you are right but have you also thought of insurance?. It is important when you build your house whether through mortgage, you need to insure it with a reputable international insurance company or a local insurance company that is affiliated internationally so that even when the insurance company in the war zone is destroyed, you can lay your claims to the international affliate insurance company.

Cryptocurrency no doubt has this advantage of not being destroyed but you can also redeem your house after the war if you have indemnified it, where you are safe and can produce proof through your insurance documents (if it is not burnt Grin

)

kryptqnick

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I do agree that cryptos are safer in times of war than real estate, for obvious reasons. However, a war might be accompanied by blackouts, a food crisis, and a lack of trust into digital forms of money, in which case a person may find it hard to access the funds in Bitcoin sometimes, and that can be a problem. It still doesn't make real estate better, but it's something to keep in mind. As for mortgage in an event of destruction, I got interested in my country's case (Ukraine), and apparently, you still need to pay mortgage, but you can then apply to get a compensation from the state for the ruined property.

so98nn

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I think if someone is near conflict zone then banks not be offering that good deal for the peeps in the region because they know the risks already. Perhaps peeps should have raw houses made out of woods and puffs, and not the fixed one with high risers. That can help them during the act of war to the fullest. Even if they get hit they will only lose raw house that they can rebuild quickly and have proper settlements. I know this is not the solution but what we can do if humans are always fighting each other even after they saw billions died in the world wars. At least we can see new ways of living and acclimating to the surroundings through economic point of view.

Yes, Bitcoin can be life saver to these peeps but there is a catch. Where they would spend it? Overseas? To whom? What they will get in return if they are situated in restricted zones. Even a bird cant fly during war.

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If you live in a high conflict area where you fear that your property may be destroyed at anytime, then you have a lot more problems to deal with than.whether or not to put your property in Bitcoin or not.

Your first priority should be safety and security.

_act_

legendary

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It is good to diversify, you can not invest all on bitcoin and some other cryptocurrencies. If you are in a country that has no war, or if war begin, that if war will not likely be in the place that you are located, there is nothing not good about it if you buy or invest in real estate there. Your advice is good, but there are many successful people that have physical properties. As for myself, I will diversify.

Fullbear2222

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Quote from: Jawhead999 on October 29, 2023, 09:34:16 AM

It depends on where you live.

If you live in or near of a conflict country, you shouldn't own a property because the risk of losing it is high. Since the risk of owning property is high in a conflict country, but the interesting fact is the property price in Palestine [1] and Israel [2] are high, how it's possible?

They might able to protect their wealth through Bitcoin, but you're forget if them aka civilians can't leave the country and they need to join the war.

[1] https://www.numbeo.com/property-investment/country_result.jsp?country=Palestine
[2] https://www.numbeo.com/property-investment/country_result.jsp?country=Israel

Because Banks price in real easte by mortgage prices its like futures market not spot market.
Well all middle East are on danger to own Property Even in the south side of europe the war is still ukraine and middle east war could expand Even more all the way to Europe even the civil unrests in large population locations of middle east people.
Things are not peaceful anymore and it seems like there will be no stop anytime soon.
Imagine Even If you own Property in sweden some areas there is crimes so bad that bomb houses and burn.
Off course we don't see all this on media the news don't show us everything what's going on.

My cousin have hotel with bank loan mortgage in egypt so i call Him to give away and stay safe otherwise he will lose just the Property and still own Even more to bank.

And there is no insurance that will insure against war

Jawhead999

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It depends on where you live.

If you live in or near of a conflict country, you shouldn't own a property because the risk of losing it is high. Since the risk of owning property is high in a conflict country, but the interesting fact is the property price in Palestine [1] and Israel [2] are high, how it's possible?

They might able to protect their wealth through Bitcoin, but you're forget if them aka civilians can't leave the country and they need to join the war.

[1] https://www.numbeo.com/property-investment/country_result.jsp?country=Palestine
[2] https://www.numbeo.com/property-investment/country_result.jsp?country=Israel

Fullbear2222

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There is no rule that war Will make free of mortgage payments.
Now it's better to own only cryptocurrency becouse crypto is untouchble by war and you can take it with you If you move in world.
Now it's not good own nothing i sell everything now and put in stablecoins and btc.
Now it's better to give your Property back to bank instead of owning i have mortgage i told my bank take it i Dont need i'll just rent apartment and hold most of my wealth in crypto.
Imagine war will destroy your Property and you still have mortgage better IS to give mortgage property to bank let them have it.

Nobody dont protect your wealth If not protect yourself safety first.

Topic: War and property mortgage you still need to pay If war destroy your Property - page 4. (Read 583 times)