But I'm sure there is something in the contract that forbids you from making modifications that would drastically devalue your home. Otherwise they have no collateral for the loan. For example, I believe you can't just take a wrecking ball to your house and turn it into a parking lot.
I think you're right, but cell phones aren't collateral for anything. You can drop your phone into a vat of acid and your carrier won't care except to ask if you'd like to pay them $$$ for a new one.
Cell phone subsidies are not loans and they are not partial transfers of property. I buy a phone outright, and I get a cheap price on it because I simultaneously sign up for a service contract. That service contract doesn't change the fact that I now own my phone outright.
