ickplant@lemmy.world to Lemmy Shitpost@lemmy.world · 14 days agoA conundrumlemmy.worldimagemessage-square251linkfedilinkarrow-up11arrow-down10
arrow-up11arrow-down1imageA conundrumlemmy.worldickplant@lemmy.world to Lemmy Shitpost@lemmy.world · 14 days agomessage-square251linkfedilink
minus-squarePeriodicallyPedantic@lemmy.calinkfedilinkarrow-up0·13 days agoBut if you don’t pay, they get the house. There is no risk of loss, only risk of not maximizing profit.
minus-squarenull_dot@lemmy.dbzer0.comlinkfedilinkEnglisharrow-up0·13 days agoForeclosing is a very expensive process. If you borrow 100% of the purchase price and the bank has to foreclose they would incur a loss.
But if you don’t pay, they get the house. There is no risk of loss, only risk of not maximizing profit.
Foreclosing is a very expensive process.
If you borrow 100% of the purchase price and the bank has to foreclose they would incur a loss.