they still own the house, yet they pay no property tax.
the subsidy that was in the tax code for the home deduction was a right off that benefited the banks. WITHOUT a mortgage you don't get it (except for the standard deduction).
and back when foreclosures were common, they banksters would get the house back after being paid what was essentially rent.
AND the note for the mortgage is said to be 'monetized' meaning that they get the money for free that is used to pay for the house.
pretty good scam. They get all the subsidies and free money to boot.