Quote:
Originally Posted by Baronvonellis
Hey I'm not saying do it to punish people. Just why couldn't the bank raise the mortgage if they wanted to make more money? They technically own your property till you pay it off, so your really just renting from the bank.
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Why can't the bank raise the loan? BECAUSE IT IS A CONTRACT. Your agreeing to borrow a specific amount of money over X amount of time, paying back both P&I.