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How will the decline in property value affect Joe Schmoe's mortgage payments? I don't understand how this all leads to Mr. Schmoe becoming homeless.
by WalterGR 4y ago
How will the decline in property value affect Joe Schmoe's mortgage payments?
I don't understand how this all leads to Mr. Schmoe becoming homeless.
- polski-g 4y agoDepends if the state is recourse or not. If something like this happened in California it would be catastrophic for banks. For Florida? They can just come after the dead beat mortgage holder