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Old 03-08-2011, 17:49   #21
gynn
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re: Hyndburn Homes - Who Owns What?

On the question of who owns the ex Council houses, the housing association (Contour) 'owns' the houses in the same way as you or I 'own' our house as long as we repay the mortgage on it. If we don't keep up the payments, it gets repossessed.

The housing association sought funding from private sector institutions when it acquired the houses, and is repaying the 'mortgage' over 30 years.
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