A common misconception is that the word "mortgage" comes from the same Latin word which gave us mortuary, because most borrowers will be dead before their loan is paid off. This is not true.

It comes from the French term "mort gage," or "dead pledge." You have pledged your house as collateral for the loan. When you've paid the loan off, the signed documents are returned to you and the pledge is legally dead.

You may be apt to hear socialistic ramblings about The System run by The Man trying to keep you down, man. I would say, "Nonsense." In these days of low interest rates and 15-year mortgages, it's more than likely that you'll actually own your home one day and be able to trade it in for a better one, if you choose. (They say you should be able to buy your third home with cash.)

Folks who rant about paying interest on mortgages are the same ones who tell you to buy Term Life Insurance rather than some form of Whole Life or Universal Life and invest the difference. The problem with this idea is that 8 out of 10 people with this intention never get around to the second part of the equation. Thus, Social Security for the masses instead of self-reliance, like in the good ol' days.