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 Sam
Site Admin
Joined: 21 May 2005
Posts: 281
Location: CALIFORNIA
117.49 Dollars($)
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 Posted: Mon Jul 05, 2004 5:18 pm Post subject: Lease Hold Mortgage |
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Lease hold mortgage is a mortgage loan on a home, where the borrower does not actually own the title to the property. The borrower has a recorded long term lease on the property.
Important features:- Indirect Ownership - The property in not owned directly by the borrower.
- Time period - It normally ranges up to 99 years, but it can be as long as 999 years for a lease hold commercial property.
- Leasing of land - It is a mortgage on a home where the land is leased rather than owned.
- Amortization - It carries a precondition to be amortized over a period that is shorter then the land lease.
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Katherine Hackett
Guest
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| Posted: Tue Aug 26, 2008 1:07 pm Post subject: Lease Hold Mortgage |
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| Is there a state regulation against consumer Lease Hold Mortgages in Florida |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 1679
Location: New Brunswick, New Jersey
315.09 Dollars($)
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| Posted: Wed Aug 27, 2008 3:16 am Post subject: RE: |
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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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