[bombcar]

This is why the "if you have a loan you're just renting from the bank" people aren't right - sure, in a way it's true but there really IS a legal difference, and it DOES come into play when things go south.

[santoshalper]

Yes, of course, there is a huge difference between having a mortgage (you are the owner but the investor has a lien on your property) and renting.

[Enginerrrd]

Yeah and it goes both ways. When someone gets hurt in your front yard or something you're the one that's liable, not the bank.

[39896880]

Unless they are a trespasser. Generally, you owe no duty of care to trespassers other than to avoid intentionally harming them, unless it’s a kid and you have a pool.

Homeowner’s insurance covers it.