Reverse Mortgage Quotes

We're brainwashed with garbage idioms like "Big girls don't cry". Guys who "cry like a girl" are told to "man up". Or "she's crying like a baby", as if only babies cry, which makes no sense to me, given babies have the fewest problems out of all of us. They don't have mortgages or jury duty, and they get the fun end of the whole birthing situation. The mother is the one who is pushing and bleeding and tearing, and the baby basically just gets to jet down a water slide. I think the whole "crying like a baby" idiom should be reversed: what we should say about babies is "Jesus, that baby is crying like a grown-up!

Though Wilder blamed her family’s departure from Kansas on “blasted politicians” ordering white squatters to vacate Osage lands, no such edict was issued over Rutland Township during the Ingallses’ tenure there. Quite the reverse is true: only white intruders in what was known as the Cherokee Strip of Oklahoma were removed to make way for the displaced Osages arriving from Kansas. (Wilder mistakenly believed that her family’s cabin was located forty—rather than the actual fourteen—miles from Independence, an error that placed the fictional Ingalls family in the area affected by the removal order.) Rather, Charles Ingalls’s decision to abandon his claim was almost certainly financial, for Gustaf Gustafson did indeed default on his mortgage. The exception: Unlike their fictional counterparts, the historical Ingalls family’s decision to leave Wisconsin and settle in Kansas was not a straightforward one. Instead it was the eventual result of a series of land transactions that began in the spring of 1868, when Charles Ingalls sold his Wisconsin property to Gustaf Gustafson and shortly thereafter purchased 80 acres in Chariton County, Missouri, sight unseen. No one has been able to pinpoint with any certainty when (or even whether) the Ingalls family actually resided on that land; a scanty paper trail makes it appear that they actually zigzagged from Kansas to Missouri and back again between May of 1868 and February of 1870. What is certain is that by late February of 1870 Charles Ingalls had returned the title to his Chariton County acreage to the Missouri land dealer, and so for simplicity’s sake I have chosen to follow Laura Ingalls Wilder’s lead, contradicting history by streamlining events to more closely mirror the opening chapter of Little House on the Prairie, and setting this novel in 1870, a year in which the Ingalls family’s presence in Kansas is firmly documented.

In a sense, the farmer was the looniest speculator in a nation overrun with them. He was wagering he would master this fathomlessly intricate global game, pay off his many debts, and come out with enough extra to play another round. On top of that, he was betting on the kindness of Mother Nature, always supremely risky. But the farmer had no choice if he hoped to sustain himself and a way of life, the family farm. Instead, he was drawn into a kind of social suicide. The family farm and the whole network of small-town life that it patronized were being washed away into the rivers of capital and credit that flowed toward the railroads, banks, and commodity exchanges, toward the granaries, wholesalers, and numerous other intermediaries that stood between the farmer and the world market. Disappearing into all the reservoirs of capital accumulation, the family farm increasingly remained a privileged way of life only in sentimental memory. Perversely the dynamic Lincoln had described as the pathway out of dependency—spending a few years earning wages, saving up, buying a competency, and finally hiring others—now operated in reverse. Starting out as independent farmers, families then slipped inexorably downward, first mortgaging the homestead, then failing under intense pressure to support that mortgage (they called themselves “mortgage slaves”) and falling into tenancy—or into sharecropping if in the South—and finally ending where Lincoln’s story began, as dispossessed farm and migrant laborers.

Pages 85-87: Lower Burma when first occupied … was a vast deltaic plain of swamp and jungle, with a secure rainfall; when the opening of the canal created a market for rice, this wide expanse of land was rapidly reclaimed by small cultivators … Formerly, the villager in Lower Burma, like peasants in general, cultivated primarily for home consumption, and it has always been the express policy of the Government to encourage peasant proprietorship. Land in the delta was abundant … The opening of the canal provided a certain and profitable market for as much rice as people could grow. … men from Upper Burma crowded down to join in the scramble for land. In two or three years a laborer could save out of his wages enough money to buy cattle and make a start on a modest scale as a landowner. … The land had to be cleared rapidly and hired labor was needed to fell the heavy jungle. In these circumstances newly reclaimed land did not pay the cost of cultivation, and there was a general demand for capital. Burmans, however, lacked the necessary funds, and had no access to capital. They did not know English or English banking methods, and English bankers knew nothing of Burmans or cultivation. … in the ports there were Indian moneylenders of the chettyar caste, amply provided with capital and long accustomed to dealing with European banks in India. About 1880 they began to send out agents into the villages, and supplied the people with all the necessary capital, usually at reasonable rates and, with some qualifications, on sound business principles. … now the chettyars readily supplied the cultivators with all the money that they needed, and with more than all they needed. On business principles the money lender preferred large transactions, and would advance not merely what the cultivator might require but as much as the security would stand. Naturally, the cultivator took all that he could get, and spent the surplus on imported goods. The working of economic forces pressed money on the cultivator; to his own discomfiture, but to the profit of the moneylenders, of European exporters who could ensure supplies by giving out advances, of European importers whose cotton goods and other wares the cultivator could purchase with the surplus of his borrowings, and of the banks which financed the whole economic structure. But at the first reverse, with any failure of the crop, the death of cattle, the illness of the cultivator, or a fall of prices, due either to fluctuations in world prices or to manipulation of the market by the merchants, the cultivator was sold up, and the land passed to the moneylender, who found some other thrifty laborer to take it, leaving part of the purchase price on mortgage, and with two or three years the process was repeated. … As time went on, the purchasers came more and more to be men who looked to making a livelihood from rent, or who wished to make certain of supplies of paddy for their business. … Others also, merchants and shopkeepers, bought land, because they had no other investment for their profits. These trading classes were mainly townsfolk, and for the most part Indians or Chinese. Thus, there was a steady growth of absentee ownership, with the land passing into the hands of foreigners. Usually, however, as soon as one cultivator went bankrupt, his land was taken over by another cultivator, who in turn lost with two or three years his land and cattle and all that he had saved. [By the 1930s] it appeared that practically half the land in Lower Burma was owned by absentees, and in the chief rice-producing districts from two-thirds to nearly three-quarters. … The policy of conserving a peasant proprietary was of no avail against the hard reality of economic forces…

This completed the curious reversal in roles that occurred in the early 1980s, when thrifts became traders and traders thrifts.

Colonial Policy and Practice: A Comparative Study of Burma and Netherlands India by J. S. Furnivall Quoting page 85-87: Lower Burma when first occupied … was a vast deltaic plain of swamp and jungle, with a secure rainfall; when the opening of the canal created a market for rice, this wide expanse of land was rapidly reclaimed by small cultivators … Formerly, the villager in Lower Burma, like peasants in general, cultivated primarily for home consumption, and it has always been the express policy of the Government to encourage peasant proprietorship. Land in the delta was abundant … The opening of the canal provided a certain and profitable market for as much rice as people could grow. … men from Upper Burma crowded down to join in the scramble for land. In two or three years a labourer could save out of his wages enough money to buy cattle and make a start on a modest scale as a landowner. … The land had to be cleared rapidly and hired labour was needed to fell the heavy jungle. In these circumstances newly reclaimed land did not pay the cost of cultivation, and there was a general demand for capital. Burmans, however, lacked the necessary funds, and had no access to capital. They did not know English or English banking methods, and English bankers knew nothing of Burmans or cultivation. … in the ports there were Indian moneylenders of the chettyar caste, amply provided with capital and long accustomed to dealing with European banks in India. About 1880 they began to send out agents into the villages, and supplied the people with all the necessary capital, usually at reasonable rates and, with some qualifications, on sound business principles. … now the chettyars readily supplied the cultivators with all the money that they needed, and with more than all they needed. On business principles the money lender preferred large transactions, and would advance not merely what the cultivator might require but as much as the security would stand. Naturally, the cultivator took all that he could get, and spent the surplus on imported goods. The working of economic forces pressed money on the cultivator; to his own discomfiture, but to the profit of the moneylenders, of European exporters who could ensure supplies by giving out advances, of European importers whose cotton goods and other wares the cultivator could purchase with the surplus of his borrowings, and of the banks which financed the whole economic structure. But at the first reverse, with any failure of the crop, the death of cattle, the illness of the cultivator, or a fall of prices, due either to fluctuations in world prices or to manipulation of the market by the merchants, the cultivator was sold up, and the land passed to the moneylender, who found some other thrifty labourer to take it, leaving part of the purchase price on mortgage, and with two or three years the process was repeated. … As time went on, the purchasers came more and more to be men who looked to making a livelihood from rent, or who wished to make certain of supplies of paddy for their business. … Others also, merchants and shopkeepers, bought land, because they had no other investment for their profits. These trading classes were mainly townsfolk, and for the most part Indians or Chinese. Thus, there was a steady growth of absentee ownership, with the land passing into the hands of foreigners. Usually, however, as soon as one cultivator went bankrupt, his land was taken over by another cultivator, who in turn lost with two or three years his land and cattle and all that he had saved. [By the 1930s] it appeared that practically half the land in Lower Burma was owned by absentees, and in the chief rice-producing districts from two-thirds to nearly three-quarters. … The policy of conserving a peasant proprietary was of no avail against the hard reality of economic forces…

We were just a bunch of scared and overly zealous kids grasping for a future we had all been promised, only to find out when we got there it had been reverse mortgaged so our spawners could go on cruises and never retire, just for fun. We did everything we were told to do. “Go to college so you don’t flip burgers!” our parents would say in liturgical unison. And all the politicians said, “Amen!” with raging boners over the interest we would be paying until the day we died of a preventable ailment. In the beginning, we never even questioned why we disparaged the culinary artists who prepared our meals, nor did we anticipate that we would all soon be fighting on the same battlefield together begging for table scraps. Comrades in arms of a war we didn’t even start. We were casualties of a massive game of Craps our parents were playing with the economy, betting their odds against our planet, our gains, our jobs, our education, our healthcare, our future. We were bitter millennials long before they even told us we had a title.

Good, I’ve got things to do. This is all for the best, you’ll see. The girl is out of the way, the changes Mum made to her will are bound to be reversed. You’ll be able to pay your mortgage and I’ll be able to keep the gallery. Everyone’s a winner!” Jude says. “How can you talk like this?” “I open my mouth and the words come out.” “For god’s sake.

At Glory’s house, she went inside to check on the progress of the painter. That was the division of labor: Ginger oversaw and Mimi paid. The kitchen, walls a clean creamy white, smelled of paint, but the painter was gone. No more work would be done in Glory’s house today. She caught herself. This was not Glory’s house anymore. That head-banging discovery came the day after Glory’s move into the Meadows, when Ginger, attending to the mountain of her mother’s past-due bills, came upon a statement for a reverse mortgage that neither sister knew anything about. She’d immediately called Mimi and shared the news that without consulting them, Glory had taken out a reverse mortgage, ten years ago, with the lump-sum option.