How To Mortgage Property Monopoly

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So You're Broke in Monopoly? How to Mortgage Like a Mastermind (and Not a Moron)

Ah, Monopoly. The game of buying streets, bankrupting friends, and unleashing passive-aggressive fury like a fire-breathing dragon. But what happens when your fake Monopoly money situation is drier than a week-old bagel? Enter the majestic, misunderstood art of mortgaging.

How To Mortgage Property Monopoly
How To Mortgage Property Monopoly

Don't Panic! You're Not Going to Jail (Yet)

Mortgaging a property isn't a one-way ticket to debtor's prison. It's simply borrowing money from the bank using your property as collateral. Think of it like a fancy pawn shop for houses and hotels, except with slightly less judgment (hopefully).

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Here's the How-To (without the boring Monopoly rulebook jargon):

  1. Sell any buildings on the property back to the bank at half price. We're downsizing, honey!
  2. Turn the Title Deed card face down and collect the mortgage value (printed on the back) from the ever-so-helpful banker (who may or may not be secretly judging your financial decisions).

Voila! You've got some much-needed cash to avoid that pesky rent or buy that essential thimble from your equally broke neighbor.

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But Wait, There's a Catch (of course there is)

Just like that sketchy loan shark down the street (but hopefully less threatening), mortgaging comes with a price:

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  • You can't collect rent on the mortgaged property. So long, sweet passive income!
  • Lifting the mortgage (fancy term for paying it back) requires the mortgage value plus 10% interest. Ouch. That Monopoly money just got a little less Monopoly and a little more "real world."

Mortgage Like a Monopoly Maestro: Pro Tips from a (Slightly) Seasoned Player

  • Mortgage strategically: Don't just hock your Park Place on a whim. Consider mortgaging properties that are less likely to land high rents.
  • Remember, you can still sell mortgaged properties: Just negotiate a price with the buyer, who can then choose to lift the mortgage immediately (paying the bank) or keep it mortgaged (and pay you 10% interest, booyah!).
  • Don't over-mortgage: Remember, the goal is to win, not become the bank's biggest borrower.

The Bottom Line:

Mortgaging can be a powerful tool in your Monopoly arsenal, but use it wisely, young grasshopper. Remember, the key to Monopoly mastery is strategy, cunning, and maybe a little bit of luck (especially when rolling those dice). Now go forth and conquer the board (and maybe avoid landing on Boardwalk)!

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2023-05-20T08:46:13.996+05:30
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Quick References
Title Description
transunion.com https://www.transunion.com
nationalmortgagenews.com https://www.nationalmortgagenews.com
consumerfinance.gov https://www.consumerfinance.gov
occ.gov https://www.occ.gov
freddiemac.com https://www.freddiemac.com

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