Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?
This is your opportunity to ask questions. No question too simple or too silly.
Culture war topics are accepted, and proposals for a better intro post are appreciated.
Jump in the discussion.
No email address required.
Notes -
I think think this is a case of "knowing somebody": I know people who have had mortgage contracts to non-bank entities. Sometimes it's family with money doing the underwriting (there's an element of trust here not to be entered into lightly), but some older family have told me about buying a house from its existing owners this way to give them a fixed income to downsize. The latter seems less likely to find in this less-personal age.
Part of the problem is that mortgages are finicky contracts: you have to worry about getting paid (employment, cost of living), and the continued valuation of the underlying asset (2008 anyone? Or just vanilla gross property damage even). It's not a business I'd want to be in privately with the general public.
More options
Context Copy link