4 ms·

I am also interested in hearing about this. I guess they guaranteed good title, but kept money (earning enough interest?) in case the bank comes knocking?

• iteriteratedone 8y ago
  Hes a rich fuck ... sold it to a relative. California is a shithole
• redleggedfrog 8y ago
  Yes, I just talked to the person who I owned it with, and this is their recollection. We could transfer the title, but we were on the hook for the the mortgage. I'm pretty sure there wasn't a lien on the property. Pretty funny you mentioned the interest. In the 11 years it's been like $50.00, since I keep it in just a regular account (instead of CDs or whatever).
  • MertsA 8y ago
    >I'm pretty sure there wasn't a lien on the property Which country was this in? Banks don't typically hand people hundreds of thousands of dollars without making sure that they'll get their pound of flesh when things go south. Not having any kind of collateral is a pretty big mistake on the bank's side.
  • kevmo 8y ago
    If a bank sues you, they will be making claims for various damages. One of those damages will probably be projected interest they would have made from re-lending the money that wasn't being paid. The debt could also be subject to a state of limitations, and you could potentially be clear. If its been 11 years, I would ask a lawyer about it. You may be able to safely use the money you've left set aside.