You're having a bad day eh. You got spanked for calling BL a pedo, I made you look like a fool, and now you've taken over for me, lol.
Dude, serious advice, turn off the puter, go lay down.
I have no idea myself. I would think not, but how do you get around racial discrimination accusations for not selling to non band members? What if there's a default, can the bank foreclose on the property? I'm watching to see how this goes.
Why would you think there'd be no covenants in place? I'd think that would make the most sense. As far as potential foreclosure, I'd imagine you make the band a party to the mortgage, maybe with requirements to reserve some or all sales proceeds for a predetermined period of time. There's nothing saying the financing has to be from a traditional bank either . There's probably loads of potential for First Nations owned and operated financing endeavours.
I don't know, I think it's obvious that it wouldn't be a traditional property transaction/mortgage. All in all, I think it's a very positive movement in the right direction. Home ownership and the pride inherent in it could have a positive influence on the entire community.