One player who made proper investments in the days of their football career was the midfielder maestro, Michael Essien. He is never broke. It’s because he doesn’t like public speaking 😙
Let's call a spade a spade. Hit the nail on the head. A mortgage is a loan , a real estate loan. It functions as a financial vehicle to service the cost of a property on a monthly basis based on the amortization schedule. Once you fail to pay your mortgage, you've defaulted on the loan. Period! The financial institution that approved the loan will initiate foreclosure proceedings to take over the property.
Who spends 30 million dollars for a house in Ghana 🤔 whiles the same money can buy you multiple properties in the richest parts of the USA. Essien paa 😢he could’ve quadrupled his money if he invested it in real estate abroad.
You're misinforming the public pls. A mortgage is also another form of a loan just that it's not monetary loan as we all think of when we hear of a loan it's an asset loan so technically it's a loan pls.There are different forms of loans aside monetary loan. We have car loans, house loans which we calk mortgages
Essien, therefore, made a down-payment; which is the percentage of the total cost, and got a loan to buy the house. Essien, therefore, has to pay monthly mortgages. His inability or refusal to pay mortgage leads to what we call FORECLOSURE. If you allow the house to go foreclosure, you loose your deposit. The bank takes the house or property, sell the property to recover its money. There is nothing like Essien getting any balance. The down-payment he made covers the period he 'owned' the house. Essien didnt buy the property with his own money for he won't pay mortgage. He was paying mortgages because the bank gave him a loan to complete purchase the house. He doesn't care because he didn't get the property with his money. He could afford to lose the down-payment thus he appears nonchalant but he has lost some money.
@_EricT stop that, no house in ghana amount to 20 million dollars. You say these things to ignorant people who don't know the value of even 50000 dollars. Do you know what 20 million dollars can do? Since most of us haven't seen those amount before, politicians abd the likes have been deceiving us to undermine this huge money in order to steal and we have accepted it.
Stop reporting lies. He just can’t afford the payment…He defaulted on the loan so the bank/court has proceeded with foreclosure. He will get nothing from the sales.
@@EmmanuelKwasiOmas-bk1jo shut up. I live in America and I eat 3 or 4 times a day. If he wasn’t having money issues, he would have simply sold both houses.
Mortgage is still a form of loan and it’s normal - in de west/America getting a mortgage/loan to buy a house is normal. Ghana people dey like negative news tooo much… The guy get too much money - he doesn’t need the homes in Ghana!
Look if you r a sports man in ur prime there will no need to invest in real estate if it's not going to be used for rental to recoup money to pay the mortgage payments, prudent investment will not make you broke after ur playing days ..let be wise
Saddick , respectfully your explanation is wrong. Mortgage is just like a loan. The bank finances the property and you pay the loan. If you can not afford to pay the Mortgage after a while the bank takes over the property. Most times you lose the property. The bank would not give you any money back. Unless you can sell it, then you pay off the mortgage and keep the profits if there is any.
Don't you people have more important things to discuss than this rubbish? Probably you have not eaten properly today but look at what you are busy discussing
Essin is very ungrateful and very stingy,since you gain you never even visited bro paa nii,he supported you alot now he dead and his wife too is very sick,kaman will strike on you
Some Ghanaians are always skin pain like you. This story doesn't make sense. Always want the downfall of someone. Shame on you. How can a house in Ghana cost $20 million. Do you know houses that come $20 ,million.
