I want to buy an owner has a second mortgage?
We rent their own home. We are saving a deposit. We rent to own more than 2 years. Owners use to make all payments of rent of the house. They told us that we owe the loan balance. We found that the owners have recently taken a loan using the house (there is a second mortgage?). They told us that this does not affect what we buy homes (they verbally quoted price). How can they sell a house when they borrow money to buy another house? How to protect themselves without getting kidnapped by? We have never done anything like this before so we are blind to what might happen to us. I have read, if they do not respect the loan, so we can go home, even if we buy from them. We’ve also heard they had problems in tax return for something else.