👉 Okay, settle in, class! Letās tackle this rather⦠prickly piece of late-night, frankly depressing, financial vernacular:Ā
Where Was Mortgage School?
Now, immediately, I want you to recognize the sheer absurdity of that saying. Before I delve into what it actually meansāand trust me, there isn't a school for thisāwe need to acknowledge the gut punch of the whole thing. Itās basically the verbal equivalent of being smacked in the face with a beige prospectus and a depressing amortization schedule. Here's the breakdown: "Where Was Mortgage School?" is essentially a devastatingly funny, and frankly rather insulting, way to describe the stupid amount of paperwork, endless runarounds with underwriters, and overall soul-crushing experience you go through when buying a home in this ridiculous country. 90% of the time it's just⦠stuff. A lot. And nobody told you what the stuff meant until they were already billing you for the privilege of being fleeced with a twenty-something year loan, that is. Letās unpack that. Historically, and I stress this: historically! It started bubbling up in the early 2010's during the peak of the American housing boom, specifically amongst those who were desperately trying to get into the market while being simultaneously throttled by a bureaucratic hydra of acronym after acronym. The joke hinges on that feeling you get when