Hrrmmmmmm. There’s no need to go through the awful consequences of the collapse of marriage as an institution. We are 3 generations deep into that particular shit show and the consequences are everywhere. And from what I’ve seen…80% or more is shitty women trying to take their former husbands to the cleaners. And the fellas aren’t innocent… they keep falling for the scam as the institution of marriage collapses and prolapses. There doesn’t seem to be any way to reverse it either, that isn’t just empty scolding and moralizing. Or is there? Have you ever heard of “pair mortgage”? I guess it’s a Japanese thing…
- Two Contracts: Each person applies for their own mortgage, creating two separate loan agreements for the same house.
- Joint Ownership: Ownership is registered jointly, often reflecting the ratio of down payment plus loan amounts, such as 60% for a ¥30M loan and 40% for a ¥20M loan, says dovetail.co.jp.
- Guarantor Role: Each borrower acts as a guarantor for the other's loan, ensuring repayment security for the bank.
- Tax Benefits: Both individuals can claim the housing loan tax deduction, maximizing savings.
- Group Life Insurance: Each person typically enrolls in their own group credit life insurance (dan-shin), meaning if one passes, only their loan is cleared, leaving the other's debt intact but covered.
🤨?
So how would that work in the event of divorce? Given that the majority of divorce here in North America is about cash and prizes… wouldn’t this act against that as a damper of some sort? To me it looks like it would almost be some sort of financial pre-nup…? Near as I can tell, close to 50% of American marriages end in divorce. For the Japanese it’s around 30 ~ 35%.
I wonder if something like that would work here…? Can financial pressure prevent stuff like this….?
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