No. You don’t pay off a mortgage before the home is built lol. That’s the dumbest thing I’ve ever heard. You have to pay in full to the developer. By taking ou

No. You don’t pay off a mortgage before the home is built lol. That’s the dumbest thing I’ve ever heard. You have to pay in full to the developer. By taking out a loan which consists of a downpayment. The developer now has 100% of the money. And the buyer has nothing but debt. The developers are either never breaking ground or never completing the building. Using the money to buy more land and sell more homes. When they file for bankruptcy. The banks still need the money back from the buyer. Since the buyer has no home because it was never finished they effectively lose their investment and their lives as debt collection takes their cars, live-in home. Etc. Stop spreading misinformation that buyers aren’t suffering. This is people’s lives at stake. Lying to people and pretending like nothing is wrong makes you a terrible human being when people’s lives are at stake.