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How about default, and then buy back from the bank, maybe at an auction at $300,000...
by naveen99 8y ago
How about default, and then buy back from the bank, maybe at an auction at $300,000...
- scaryspooky 8y agoIf you have the cash to be able to buy the house outright why would you default in the first place? Otherwise, after a default (which likely includes bankruptcy) you will be unable to get credit.
- naveen99 8y agoBecause the house is worth less than the loan... you don’t have to go bankrupt to default on non-recourse home loans as far as I know.