How many mortgage loans do the banks allow???

[71tr1]

@motivatedceo

Who is the true owner of property…the person who has the name on the deed, or the person who owns the mortgage [who’s name is ALSO on the deed]? It’s the noteholder…the person who holds the mortgage…who in this case is probably either the wholesaler or the bank. Since they are the true owners of the property, they can foreclose on the first late payment [if state law allows such a thing]. Yikes.

To say the noteholder is the true owner of the property is simply a fallacy. Sure the noteholder has a security interest in the property but they do not own the property. The purchaser/homeowner has assumed all of the market risk by buying the house and as such is rewarded with any market appreciation or depreciation. The noteholder is simply a lender with a security interest which might be foreclosed upon should certain covenants be broken.