No, you don't understand who profits, who owns and who gets to hold the risk bag. The distribution is different and thus are failure points and who falls if it fails.
I understand the difference. Are you understanding my point about the practical similarities? If they "own" 97% of a property as first in lien it's essentially the same thing as buying and renting. The mortgage holder can walk away and then it goes to short sale this the risk profile for lenders of bullish
No, you don't understand who profits, who owns and who gets to hold the risk bag. The distribution is different and thus are failure points and who falls if it fails.
I understand the difference. Are you understanding my point about the practical similarities? If they "own" 97% of a property as first in lien it's essentially the same thing as buying and renting. The mortgage holder can walk away and then it goes to short sale this the risk profile for lenders of bullish