House Dedication for a Mortgaged House
Question
Should a house dedication be performed on a house with a mortgage, considering that one might say the house belongs to the bank?
Answer
Shalom and blessings,
The house does not belong to the bank; it is merely mortgaged to them as collateral for a loan.
The custom among Sephardim is to perform a house dedication even in a rented home. Therefore, it is clear that a house dedication should be performed even if the house is purchased with a mortgage.
Among Ashkenazim, there is no obligation or specific custom to perform a house dedication, and each person acts according to their own preference. The main purpose of the event according to this custom is to thank Hashem for the purchase of the house, which is certainly applicable even if the house is mortgaged.