3 ms·
How about if a company is taken over? Should I be “forced” to work for a company I did not decide to work for?
by NeoTar 3y ago
How about if a company is taken over? Should I be “forced” to work for a company I did not decide to work for?
- JohnFen 3y agoYou can quit your job. You can't quit your mortgage.
- hiatus 3y agoWhat would an alternative be in the case of a lender being sold? Force a balloon payment for the balance? It seems a better alternative to be able to transfer the loan like any other asset.
- JohnFen 3y agoWell, that's an entirely different, and special, case that would require different rules, of course. That's not what causes loans to be transferred to others in the vast majority of cases.
- cornel_io 3y agoYou can, though, that's literally what refinancing is.
- JohnFen 3y agoIn many (but not all) cases, that's true enough, yes.
- jodrellblank 3y agoReturn the house keys to the mortgage holder and walk away. (This is about as convenient, pleasant, and useful advice as the "just quit your job" advice).
- gnicholas 3y agoActually it’s much easier than that, though not in the current interest rate environment: you just refinance, and likely save money along the way. Note that your first mortgage in CA is nonrecourse, but a refinanced mortgage is not nonrecourse (meaning the lender can come after you personally if you end up underwater).