8537
VIP Member
(1) I didnt' say all of equity, but the owner is entitled to a portion based on the agreement, and rightfullt so.
Why should the lender buy out the equity?
A montage is nothing more then a rent to own agreement. The equity.rent is the gamble that you lost.
(2) a mortgage is absolutely, positively NOT a rent-to-own agreement. It's a third party transaction in an exchange, and the person offering the "rental" in this case loses all rights upon execution of the sale.
You suggest that the lender buy out the equity.... And the owner is "entitled" ... there in lies the problem. They are entitled to pay for their mortgage... and that's it.
The lender buy out a portion of the equity that both sides agree to based on what has been paid. If you don't like that arrangement, take it up with the bank,
And what agreement is that. I have never seen in any mortgage with an agreement stipulating that if you default on your loan, that you get a portion of your money or equitey back
The agreement they reach.
No? ... you dont think its more or less a rent to own a property? Think about. You pay every month for the privileged of living in the house you choose and think you can pay for. If you cant pay for it..... you are evicted.
No, I know it is vastly different from a rent-to-own agreement. It is not "nothing more than a rent to own agreement." It is a wholly different, in-no-way comparable legal agreement relative to a lease. It grants a wholly different set of rights and remedies to both parties (or all three parties in the case of a mortgage.)
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