Quote:
Originally Posted by greg80
thanks guys! I find it really strange for realestates to be listed like that, saying how much money the guy owns to the bank. Why does that metter, when the thing is going on an auction anyway.
|
because the bank usually bids that amount right away. So if the house is worth 125k and the loan is 100k the bank bids 100k to start it off and it is even stupider as they do the same thing if the loan is 150k.