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Well, no, you could take a reverse mortgage. The US does substantially favor “primary residences” vs other forms of capital ownership, basically for the reason
by md_ 5y ago
Well, no, you could take a reverse mortgage.
The US does substantially favor “primary residences” vs other forms of capital ownership, basically for the reasons you give. Renters, typically, receive fewer such protections (but this depends on the state).
- teakettle42 5y ago> Well, no, you could take a reverse mortgage. Borrowing against a potential future gain is not realizing that gain, and such a loan incurs the risk of losing some (or all) of my equity in the home.
- op00to 5y agoI’m sorry. Exactly where do “profits” come from if not your equity?
- teakettle42 5y agoNot sure I follow. My equity is illiquid until I sell the home. I could, in theory, borrow against it, but that carries risk.