Imagine for a minute that Mark Zuckerberg was a lien holder on your house. Under the guise of philanthropy. Oh, wait.... you don't have to imagine because this is real.
This is how this system works as I can figure out. If you are a teacher, Mark Zuckerberg helps you put down 50% of a down payment for a house. You put up the other 50%.
"There are no interest rates or monthly payments for the Landed contribution, just the mortgage. Years later when the buyer refinances to buy out Landed’s stake or when they sell their home, its value is appraised. If it’s gone up, Landed shares in up to 25% of the upside, while if it’s gone down, it shoulders up to 25% of the burden.
Source.
I read this as a forced refi because how would Zuckerberg ever get his money back. And THEN he takes 25% of your equity!
Cool idea huh? And because teachers are so smart they of course will realize how stupid this idea is. Said in the most sarcastic way.
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