Quote:
Originally Posted by MrMaxwell
Are you sure? The bank wouldn't loan someone more than a house is worth, you say?
|
actually i didn't say that, i said the bank wouldnt lend you 300k for a 200k house.
Quote:
Originally Posted by MrMaxwell
I've never heard of someone losing a house that sold for more than they owed.
|
happens all the time although isn't something you would hear about because most people who are foreclosed don't follow the price of the house they lost price
Quote:
Originally Posted by MrMaxwell
. but I would assume that if it sells for more than you owe, you would OF COURSE be paid the difference
|
lol keep dreaming
if you pawn a ring for 5k and dont pay and the pawnshop sells your ring for 20k you don't get the profit, works the same way with the bank. Once you default on the loan , you lost the house.