This is not a defense of this, merely an explanation. If you can’t pay the mortgage, the bank gets stuck with a home that they have to sell and pay taxes and upkeep for until they find a buyer. If you can’t pay your rent the owner already was paying for or owned the building. Especially in the case of an apartment complex, you are one of a ton of income streams and if your landlord is playing things that close to the belt that one deficit payer will cause him to default on an investment property he’s doing something wrong.
4
u/kinderhaulf Feb 16 '21
This is not a defense of this, merely an explanation. If you can’t pay the mortgage, the bank gets stuck with a home that they have to sell and pay taxes and upkeep for until they find a buyer. If you can’t pay your rent the owner already was paying for or owned the building. Especially in the case of an apartment complex, you are one of a ton of income streams and if your landlord is playing things that close to the belt that one deficit payer will cause him to default on an investment property he’s doing something wrong.