 Matt3All noise, no signal.Premium
join:2003-07-20
Jamestown, NC
kudos:12 | In other news ... I think I'm going to go take over the mortgages of a few homes their owners no longer want, perhaps a few car notes as well. Who cares if I have no plan to actually pay for it all, I'm just going to file bankruptcy!
Oh wait, when I file bankruptcy, my assets are sold to pay my debtors so this won't work for me.
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"What is conservatism? Is it not adherence to the old and tried, against the new and untried?" - Abraham Lincoln |
 Z801 point 77Premium
join:2009-08-31
Amerika | People do that all the time now, it's called Loan Modification.
Buy on terms you can't afford, then tell the bank to modify the loan or they take and even bigger hit on the house with foreclosure. |
