What Is A Mortgage?
Answer: A mortgage is an agreement to pay back a loan that is secured with a piece of property.
The agreement says that the borrower will pay back the loan over a certain period of time and at a certain rate of interest.
It also says that the bank can take possession of the property and sell it if the borrower does not pay back the loan as agreed.
This is how most people buy a house. Houses cost a lot of money.
Most people do not have enough money to pay for a house all at once, so they borrow the money from a bank.
The agreement between the home buyer and the bank is the mortgage.
Most people repay their home loans by paying a little each month.
Then after fifteen to thirty years, the whole loan is paid back, the mortgage is canceled, and the house is paid for.
Key verse: But the man fell down before the king and begged him, “Oh, sir, be patient with me, and I will pay it all.” (Matthew 18:26)
Related verse: Genesis 47:20
Related question: What if you need to buy a house and you don’t have the money?
Why Are There Bills To Pay?
Answer: A bill is simply a charge for something you bought or used but haven’t paid for yet. Most people get bills for water, electricity, telephone service, gas, magazines, and things like that.
Because your family used gas for the water heater, electricity for the lights, and water to drink, you have to pay for them.
Key verse: Do not cheat or rob anyone. Always pay your hired workers promptly. (Leviticus 19:13)
Related questions: Does God want us to have bills? Why do people pay bills?
Note to parents: This question often arises when bills become the focus of attention, such as when they come in the mail or when a parent blames them for making money tight.
Simply explain what bills are and how the family benefits from the things they buy-the water you drink, the electricity that keeps the refrigerator going and the lights on, the house and furnace that keep you warm, and the book bag you bought last week to carry your books.
In other words, help your children appreciate the value of paying the bills rather than seeing them only as impediments to getting what they want.
What If I Don’t Have Enough Money To Pay My Bills?
Answer: It is very important to pay your bills. Paying what you owe is part of being honest and trustworthy. If for some reason you lose your money or run out of money, you need to work out a plan for paying what you owe.
Your plan should involve getting more money and spending less. You may have to sell some of what you own. You will also need to talk to the people whom you owe and see if they will let you pay little by little.
See if you can work out a way to pay them each a small amount every week or month until the bills are all paid off.
This is not a good situation to be in. If you learn to budget, save, tithe, and spend wisely, you may never have to go through it.
That is why it is important to follow God’s guidelines. God knows how things work best, and his way is always best.
Key verses: When the people of Egypt and Canaan ran out of money, they came to Joseph crying again for food. The next year they came again and said, “Our money is gone, and our livestock are yours. We have nothing left but our bodies and land.
Why should we die before your very eyes? Buy us and our land in exchange for food; we will then become servants to Pharaoh.” (Genesis 47:15, 18-19)
Related verses: Leviticus 19:13; 2 Kings 4:7; Proverbs 14:23; 21:20; 22:3; 24:3; 27:23-24
Related question: Why do you have to pay bills?