Comment on A conundrum
ExLisper@lemmy.curiana.net 3 weeks agoObviously, defaulting on mortgages is a thing.
In USA. As I explained in Europe it’s not a thing. Own contribution is a thing in USA and Europe. Therefore, banks don’t require own contribution because of defaults. Q.E.D.
null_dot@lemmy.dbzer0.com 3 weeks ago
What do you call it in Europe when someone stops making repayments on a loan ?
Obviously, that’s a thing.
ExLisper@lemmy.curiana.net 3 weeks ago
I meant that intentionally defaulting on a mortgage when the property loses value and not paying the debt is not a thing. That’s what we were talking about.
null_dot@lemmy.dbzer0.com 3 weeks ago
Who is more likely to default, a borrower with $100k equity, or a borrower with negative $100k equity?
ExLisper@lemmy.curiana.net 3 weeks ago
Read my other comments. I answered this already.