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Sam · Posted: Mon Jul 05, 2004 5:18 pm Post subject: Lease Hold Mortgage

Lease hold mortgage is a mortgage loan on a home, where the borrower does not actually own the title to the property. The borrower has a recorded long term lease on the property.

Important features:

Indirect Ownership - The property in not owned directly by the borrower.
Time period - It normally ranges up to 99 years, but it can be as long as 999 years for a lease hold commercial property.
Leasing of land - It is a mortgage on a home where the land is leased rather than owned.
Amortization - It carries a precondition to be amortized over a period that is shorter then the land lease.

Guest

Is there a state regulation against consumer Lease Hold Mortgages in Florida

sara · Posted: Wed Aug 27, 2008 3:16 am Post subject: RE:

Hi Katherine,

Welcome to the forums.

The State regulatory body for Florida leasehold mortgages is the Office of Financial Regulation. You can contact them at http://www.flofr.com/Director/ofrcontacts.htm .

Take Care

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