How do asset-backed mortgages (/other lending) work? This seems like it might be a big deal for people who are some flavor of FI, but I don't remember having heard anybody talk about it. Like, I consider myself "BarristaFI," so I'm still making some money, but nobody would approve me for a new car loan from it, never mind a mortgage.
I'd hate to cash my investments out to buy a house in cash, because I wouldn't want that large a percentage of my net worth to be in my primary residence when I don't necessarily know how long I want to live where I am, or whether my family situation might change over the coming years. But my mom's health is getting kind of rocky and the mobile home across the street from hers is for sale and I could easily afford the payments on it (it's less than my current rent). I just don't know what the process looks like to convince a lender of this if it ended up being something I wanted to do (for life reasons much more than for investment reasons).