4 ms·
Danish loans are a bit special, though, as in most people don't pay them down, but just use them as a way of having a fixed rent. At least that's my experience,
by matsemann 5y ago
Danish loans are a bit special, though, as in most people don't pay them down, but just use them as a way of having a fixed rent. At least that's my experience, all my danish family own their houses, but have almost done no real payments on the loans. Whenever they've paid down a bit, that is just refinanced to a new loan so they get cash, aggressively promoted by the banks. Or the equity is just based on a hope that the loan will stay the same but the value of the property increase. Which it certainly has not.
- maxerickson 5y agoI wonder if the way I use "homeowner" differently than the phrase "own their home" is particular to me. I wouldn't say someone with a mostly unpaid mortgage "owns their home" even though they are a homeowner. It is "their house" and things like that also, but I hesitate to directly say that they own it.
- kube-system 5y agoIn the US, liens are encumbrances to title but aren't transfers of title. It's a legally important distinction because the law often recognizes that even in a foreclosure, equity belongs to the homeowner ...among all of the other rights that come along with property ownership.