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How is it pure loss? They can just sieze the house and sell it off to recover their losses. The owner can go kick rocks.
by xwdv 3y ago
How is it pure loss? They can just sieze the house and sell it off to recover their losses. The owner can go kick rocks.
- gorjusborg 3y agoIf the loan is truly 'under water', it means the house's actual worth on the market is less than the loaned amount. The bank can sieze the property and sell it, but by definition they will lose money.