What is the issue with the bank holding the title? Sure, you lose the house if you can't make the payments to the bank, but you also lose the house if you can't make the tax payments to the government. In both situations (with or without a mortgage), you never truly own it.
In general your tax payment is much lower than your house payment, and so if you can pay the house off, you will have or should have no problem paying the taxes. Watch the local politics because everyone saw this does fail but it is pretty rare overall. Meanwhile people do lose their job and the payment portion of the house is a lot of money and so you can lose your job just because bad luck and in turn you lost your house.
Or to put it a different way, if my house was paid for, it would hurt, but I could make all ends meet just working fast food jobs. It wouldn't be an easy life, I'd end up walking a few miles to the nearest fast food place because I couldn't afford a car, but I could at least keep my house.
> knowing that the bank still holds the title to your house.
While the bank holds the title on a financed car, they don't actually hold title on your house. They will have a recorded lien, of course. But you hold the title, which should help you sleep ;p.
That's why a house is foreclosed, and a car is repossessed. Repo is lender calls the tow peeps and they pick up your car; foreclosure requires notice and often court and plenty of bureaucracy.
Neither option is fun, of course.
On topic, I was paying a little extra on my mortgage (mostly as I rate adjusted down, I would tend to keep paying the old payment), but when savings interest is more than mortgage interest, it was just as easy to sleep with a savings balance equal to the mortgage balacne as with no mortgage.
I could see the consumer use case working, but only if the layers upon layers of friction are removed. If I could pay 5 cents to view an article that captured my interest, by tapping a button, Face ID, fingerprint etc, then I might do it. Unclear how to make everything up to that point frictionless. Browsers would probably need to have native integration and hooks for payment and topping up the account.
An integer for the value (scaled by number of decimals) and an integer value for the number of decimals. Different systems may use different values, even for the same currency or asset.
So all the people who write financial software and avoid floats don't know what they're doing? That's would end up being just about everyone. You should teach them, you know so much more than they do.
PG&E is a profitable, publicly traded company... that issues a dividend. They tried to file for bankruptcy after the paradise fire, but they were too big to fail, so they issued new shares with gov protection. CA created a new insurance backstop for them as well. Corporations should not have government assisted (regulated) monopolies with socialized backstops. Yeah, CPUC is supposed to help, but decision makers probably have exposure. It is the same with Sempra and SDG&E and SCE. SMUD seems like a better organization, but what do I know.
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