01-08-2019, 07:25 PM
(01-08-2019, 06:05 PM)Nebuchadnezzar Wrote: I know a family whose house is worth $300k but they owe $500k on it.
How is this allowed to happen?
And no it's not Trumps fault, they have been accumulating this debt for years. Not only taking loan after loan out on their home but also able to buy cars, have them taken from them then buy another.
I don't know their credi card debt but it must be shy high as well.
??? Are you asking a question about how mortgages work? How the value of real estate changes?
Are you saying that this family took out home loans in a greater amount than the value of the house?
Wouldn't that be on the bank?
![[Image: 4CV0TeR.png]](https://i.imgur.com/4CV0TeR.png)
