3 ms·
Partially covered mortgage means the bank will eventually foreclose. They take the house and, zero out the equity the owner may have, and take any asset value i
by csmark 9y ago
Partially covered mortgage means the bank will eventually foreclose. They take the house and, zero out the equity the owner may have, and take any asset value increase and pocket it all.
- jclulow 9y agoI meant partially covered by the rent you are able to charge. When I moved away from the house I had bought, I rented it out for a number of years. The rent I was able to charge covered about 90% of the payments, and I put the rest in from my salary. I sold the house a few years later after it had appreciated somewhat, and it was overall a good deal. I could imagine a similar situation with Airbnb instead of traditional lease arrangements, assuming the numbers line up. My point was more that I can't see it working out that way with an asset like a car.