If one was to act strictly within the letter of the law….getting a very low down payment loan that has a mortgage payment below comparable rents would make sense. You can write-off the interest payments and if the house doesnt hold it’s value, you can stop paying the mortgage. The only downside is ruining your FICO score for a while, losing your downpayment and having the IRS come after you for the portion of the debt that will be forgiven upon default.Could be an ok deal. Low down payment coupled with non-recourse loans is good upside wieghted risk, IMO. But I wouldnt take it in this market.
Our brilliant govt at work. Incenting, and in a way rewarding, risk.
But it’s still not “owning” the house. Just an investment vehicle that the govt has been nice enough to let the little guy still enjoy. To some extent.
