4 ms·
Tracking equity and liability on this sounds like an absolute nightmare. Once you've added an entity to abstract/simply the equity/liability situation, you end
by subway 10y ago
Tracking equity and liability on this sounds like an absolute nightmare. Once you've added an entity to abstract/simply the equity/liability situation, you end up with something that looks a heckuva lot like a bank and a mortgage on a condo/coop.
- Kinnard 10y agoI'm not sure, I wonder if a company like castle ( http://entercastle.com http://entercastle.com ) could do it programmatically.
- dpark 10y agoIslamic mortgages are exactly this. You have an incorporated entity (shares distributed between yourself and the bank) that owns the house and your "mortgage/rent" buys more equity from the bank. It's still just a mortgage structured to hide what it is. If you set this up with a "landlord" instead of the bank, it's the same thing and the landlord is still going to charge you a premium (aka interest) for assuming this risk, and assess your creditworthiness before entering into this kind of contact with you.