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Company Loan Type APR Est. Pmt.

Lease Hold Mortgage

[b:cc1f4284f3]Lease hold mortgage[/b:cc1f4284f3] 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:[list:cc1f4284f3][*:cc1f4284f3] Indirect Ownership - The property in not owned directly by the borrower.

[*:cc1f4284f3]Time period - It normally ranges up to 99 years, but it can be as long as 999 years for a lease hold commercial property.

[*:cc1f4284f3]Leasing of land - It is a mortgage on a home where the land is leased rather than owned.

[*:cc1f4284f3] Amortization - It carries a precondition to be amortized over a period that is shorter then the land lease.
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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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

Like | Dislike | Share | Posted: Thu, 02/04/2016 - 23:51 | Post subject:

sara's picture
sara | Joined: July 5, 2006 03:16 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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

Like | Dislike | Share | Posted: Thu, 02/04/2016 - 23:51 | Post subject:

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