Quote:
Originally Posted by rowan
What happens if the bank sells for $20k more than he owes? Does he get paid the difference? To my understanding that's how it works in Australia.
|
this is true but you have to remember if the house is worth much more then is owed the owner would sell it and walk away with something if its close to what he owed he is fucked because of all the late fee's and penalties of missing payments so the bank might get 20k more then was owed before the owner started missing payments but once they tack on some fee's the 20k would be gone.