Banks at least are generally a disinterested landlord. They don't randomly drop by to "see how things are going", and you never hear from them as long as the mortgage payments are current.
And in this one limited circumstance that is better than a landlord who in addition to wanting the rent on time worries about depressed property values and future rental income potential.
The bank wants their mortgage payment on time and in full, and as long as they get it they don't care about anything else.
Usually that’s because they’d make more money from the mortgage payments than from defaulting and taking the house, since there are so many extra costs you need to pay to sell it in the first place.
Yes, to the point that they are disinterested in land ownership.
Banks don't want to rent homes, they want to get rid of them as quickly as they can and get that cold hard cash. They could milk people for rent for their entire lives, but instead, they'd rather just sell the house.
Banks at least are generally a disinterested landlord. They don't randomly drop by to "see how things are going", and you never hear from them as long as the mortgage payments are current.
. A bank only cares about money.
And in this one limited circumstance that is better than a landlord who in addition to wanting the rent on time worries about depressed property values and future rental income potential.
The bank wants their mortgage payment on time and in full, and as long as they get it they don't care about anything else.
Usually that’s because they’d make more money from the mortgage payments than from defaulting and taking the house, since there are so many extra costs you need to pay to sell it in the first place.
Yes, to the point that they are disinterested in land ownership.
Banks don't want to rent homes, they want to get rid of them as quickly as they can and get that cold hard cash. They could milk people for rent for their entire lives, but instead, they'd rather just sell the house.