In my opinion it it could be considered both depending on different scenarios. A liability to the homeowner because you owe debt to a lender. Once mortgage is paid off then it is an asset to the homeowner or if a homeowner decides to use as a rental property/airbnb then it would also be an asset as he or she is is being paid. On the other hand as a lender always an asset to them because they are collecting a debt from the homeowner.
You are welcome, Hillary. Thank you!
Yes, Alexis. Thank you for your comment.