Mortgage

When money isn’t real: the $10,000 experiment | Adam Carroll | TEDxLondonBusinessSchool | Jabar Post Indonesia

When money isn’t real: the $10,000 experiment | Adam Carroll | TEDxLondonBusinessSchool | Jabar Post Indonesia/a> – This time JabarPost.Net will discuss about Mortgage.

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When money isn’t real: the $10,000 experiment | Adam Carroll | TEDxLondonBusinessSchool | Jabar Post Indonesia

A mortgage loan or, simply, mortgage (/ˈmɔːrɡɪdʒ/) is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged. The loan is “secured” on the borrower’s property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property (“foreclosure” or “repossession”) to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning “death pledge” and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.[1] A mortgage can also be described as “a borrower giving consideration in the form of a collateral for a benefit (loan)”.

Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property (for example, their own business premises, residential property let to tenants, or an investment portfolio). The lender will typically be a financial institution, such as a bank, credit union or building society, depending on the country concerned, and the loan arrangements can be made either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably. The lender’s rights over the secured property take priority over the borrower’s other creditors, which means that if the borrower becomes bankrupt or insolvent, the other creditors will only be repaid the debts owed to them from a sale of the secured property if the mortgage lender is repaid in full first.

In many jurisdictions, it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to enable them to purchase property outright. In countries where the demand for home ownership is highest, strong domestic markets for mortgages have developed. Mortgages can either be funded through the banking sector (that is, through short-term deposits) or through the capital markets through a process called “securitization”, which converts pools of mortgages into fungible bonds that can be sold to investors in small denominations.



Adam Carroll talks about his $10,000 Monopoly game with his kids and how to teach finance management in a cashless society.

Adam Carroll is quickly being recognized as one of the top transformational trainers in the country. Having presented at over 500 colleges and Universities nationwide, hundreds of leadership symposiums, and countless local and regional organizations, Adam Carroll’s message of Building A Bigger Life, Not a Bigger Lifestyle has been heard by over 200,000+ people.
In early 2014, Adam successfully crowd-funded a documentary on student loan debt, raising nearly $70,000 in 45 days. The film, Broke Busted & Disgusted is due out in early 2015 and is already garnering critical acclaim. The mission of the film is to start a national debate about changing the way we fund college and not crippling 20 somethings with mountains of debt.
Adam’s core message is we are all after the same thing – to relentlessly pursue our passions, live simply and happily, and make a difference to those around us.

This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at http://ted.com/tedx

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44 Comments

  1. I know money isn’t real but once the mind of the masses submits to the government it becomes truth not because it’s right but because it’s a collective will being force upon anyone that thinks or acts different.

  2. I gambled away 600€(from my dads creditcard) in csgo skins when i was 14 I was shocked that i lost money but if i had 600€ in real life and i lost iT i would fribkning kill my self Or someting

  3. Weird…I, as a "kid", always knew that credit cards were extensions of your money. Money that you would eventually HAVE to pay back later or it would dig it's own hole deeper and deeper.

  4. That's cute; he thinks capitalism can reasonably provide for everyone… In reality, if there were no debt, there would be no money in existence, as debt is created foremost. Capitalism is musical chairs, it is inherently immoral and unethical. It simply works to consolidate wealth to the top and eliminate (kill) those who play more generously.

  5. Yeah I get that a lot of kids spend money digitally and don't 'see' it, but this ignores the deeper issue of the fabric of our society tearing apart due to colleges overcharging and a system that promotes 'higher education' even as many of those jobs are disappearing.
    On top of that loans for houses are harder to get, and the market is going higher by the day. Jobs are more scarce in the entry level positions and many are stuck with loans that should never be that high.
    Colleges still get federal funding up to 40% but they pay no taxes on profits, including sports. If anything the blame is on the college for-profit scam, and the kids who took those loans knowing what the costs would be, or their guardians for not seeing those risks. It is partially this, partially that….

  6. I know this game isnt the same as real life, but Fire Emblem Fates: Conquest gave me a taste of how this felt.

    I lost all of my money mindlessly and got stuck in an area I couldnt defeat years ago.

    Some years later, I realized that money in real life is actually limited and one must be careful and calculative on how one spends it. Otherwise theyll end up like i did in the game

  7. Really liked his talk, but by the end he said something like “we’re giving the next generation this global economy” as if “we should educate them to keep it and treasure it” (that’s what I understood at least), I mean honestly, you guys aren’t giving us anything that great. It’s a broken wheel based on irrealistic economic assumptions and is designed to make the rich get richer and the poor stay poor, not to mention the environmental impact it’s almost dependent on. Please let’s not romanticize economy, it overall sucks right now, and no it’s not millennials’ fault (though I know newspapers love that title)

  8. This is why Nixon or I should say our banker government got rid of the gold standard it isn’t just kids it’s everyone of us that are living in debt . money is nothing our labor is the real value and they own it .

  9. Gold and silver etc. is real money and will be again in the future. That’s why central banks and countries are buying more now, so when the dollar, euro, yen etc gets revaluated people with gold win.

  10. Money is an illusion! You just got to find a way to make it grow by itself… just read Robert Kiyosaki's books. He claims that giving money will get you money, but you don't really need money to make money. All you need is information, and the right mindset.

  11. 12:28 Because schools teach about everything but money and finances. As soon as we find the first job and go on our own, we find out that we know complex algebra, a history of roman empire and characters from greek mythology, but we have no clue how to manage our house budget to survive.

  12. Thank you. Once I've got no kids, next month I'll start using this technique on my wife. I made a budget for each cathegory of expense. For example, $X for supermarket, $Y for restaurants, $Z for farmacy, etc. But it seems to be very subjective. Next month, in the beggining of the month I'll withdraw all this money and put it in different envelopes with the different cathegories witten on each envelope. She'll be able to use it as she needs or as she pelases, but when it's over, it's over (unless we have an emergency, of course). She will see the envelopes getting thinner and will be more rational about her spendings. Money will no longer be as subjective as it has been.

  13. BRAVO! There have been many contenders, but I think this is the stupidest TED talk ever released. How someone can run a monopoly game where they change 2 of the variables (the money and the cash reward), then use that as anecdotal evidence to support the conclusion that things such as the rising college debt crisis and the economy falling apart are due to children simply being used to living during a transition a ‘cashless society’ and then make a TED talk about is is beyond me. The premise is broken but still has some charm I guess, charm that is completely squandered when the talker uses it to bludgeon a bizarre and inaccurate view of American Financial literacy. Yes financial well-being and literacy is awful, and yes kids are oblivious, but correlations is not causation and there are far more intelligent ways to discuss our current economy than “GTA money =/= real money haha”. This talk fails in discussing experimental science, conveying any sort of idea or concept, or critiquing our current way of life. Besides being plain annoying, this video actually distracts from the real difficult questions and problems our modern economy poses to our way of life with cutesy idiotic remarks. TED, at its worst, is just another pseudo intellectual trap filled with instead of a real platform.

  14. Completely misses the point, sure some of the debt is because of bad managing of money, but most is that college is extremely expensive or health care. So you have to fix those problems or nothing dramatic will change. You can be a excellent bank manager if you decide to study or get really sick you will get into debt if not default. No teaching can change that!!! (in the US)

  15. i think it should be mentioned that Monopoly was created in the time of the New Deal, and was intended to show kids that capitalism is a net-loss game, in which one person amasses ALL the wealth at the expense of everyone else. It's supposed to be played by the rules, and it's NOT supposed to be fun, it's supposed to be disturbing.
    This guy is using the correct game, but teaching the wrong lesson.

  16. We* don’t have a student loan debt crisis. We have a fiscal responsibility crisis.
    No one would ever suggest that we* the people take on the responsibility of paying back everyone’s home loans that couldn’t afford the payments. So why would anyone ever consider doing this for student loan debt?

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