No one still has a mortgage, but I am renting it so someone else is paying the mortgage π
Discussion
So it has a mortgage if someone else is paying it? And if there is a mortgage its not your house. Its the banks.
Technically yes, but I can sell it at anytime and get my money back.
Oh for sure. I guess Iβm going on about true home ownership. If you donβt hold the deed to the house, it aint yours lol. Even if 99% way to paying off mortgage. Until the lender hands the deed to the borrower, theres no house you own.
I think we need different vocabulary for people with mortgages. People easily say they own a house even if mortgaged. They should be saying βI borrow a house from the bank, Iβll own it in 23 years.