The bank doesn’t own your home if it holds a mortgage on it why would the government own your home if it holds the bank?
You are the owner of that home......"
as long as you meet the terms of that mortgage". When anyone purchases a home with a mortgage that the bank holds, even if you hold the deed to the property, the bank has every right to that home if you fail to make mortgage payments. The person that borrows the mortgage loan (i.e. the mortgagor) makes regular payments on the loan to the mortgagee (the lender) and agrees to a lien on the mortgaged property as collateral for the mortgagee. So sure, if that deed helps you sleep at night, then rest easy. But pray to the gods that you don't hit hard times or that a financial collapse (as what we're likely staring into right now) doesn't happen, because if it does, things will get dicey.
So, yes, if your name is on the deed, you technically own the home but with contingencies. Whereas, I like to think that when you own something it's fully yours, no contingencies. You own your underwear, no one can strip you of them if you stop paying off their cost over time. Those shit stains aren't anyone else's problem but yours. The moment you truly "own" a home is when you've either purchased it in full with no contingencies or have paid off the mortgage you hold on the home. Until your house is paid off completely, what you "own" is debt to a bank, debt that keeps you enslaved to their payments. Sure you rest easy at night because there's a piece of paper (deed) that suggests that you own the home, but that paper is only as valuable as your ability to pay back your lender. Reality is, in many ways you own equity in that home and as soon as you stop paying your lender, the home goes into the possession of the bank. House (homes) are the products (medium) banks use to have you buy into their products (loans). And even then in a broader sense you merely are renting the land from Uncle Sam and the moment you stop paying property taxes they can place a lien on the home and auction it off to recoup their money. Not to mention that by way of eminent domain, the government can seize your home at will if it finds it convenient to do so.
So, if all of these regional banks are taken over by the FDIC (i.e. the government) and inflation continues to worsen, unemployment rises and a recession hits, most of the mortgage borrowers will run into hard times and go bad on their mortgage payments which will result in the government owning the collateral (the homes).
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