Quote:
Originally Posted by 2BNTV
I wonder what percentage of the buyers, have a mortgage?
Until the mortgage is fully paid, the bank technically owns the home!
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Nope. Whomever is on the deed owns the home with all rights and privileges a landowner has. He can rent it, borrow off of it, improve it, live in it, realize any appreciation on it, take tax shelter from it and thus profit from it in any way he chooses. He can even defend himself within it with deadly force. The bank can't do any of these things and can't even list it as a real property asset. The bank holds a monetary lien, nothing more.