News for hackers. Stuff that matters.

A comment on Mortgage rates have been rising at a pace not seen in almost 50 years. Parent comment

Re:Mortgage rates have been rising at a pace not seen in alm... by naveen99 on Friday May 25, 2018 @02:16PM (#17156464)
How about default, and then buy back from the bank, maybe at an auction at $300,000...
[ Parent | on HN ]
Re:Mortgage rates have been rising at a pace not seen in alm... by scaryspooky on Friday May 25, 2018 @03:52PM (#17157278)
If you have the cash to be able to buy the house outright why would you default in the first place? Otherwise, after a default (which likely includes bankruptcy) you will be unable to get credit.
[ Parent | on HN ]
Re:Mortgage rates have been rising at a pace not seen in alm... by naveen99 on Friday May 25, 2018 @06:23PM (#17158561)
Because the house is worth less than the loan... you don’t have to go bankrupt to default on non-recourse home loans as far as I know.
[ Parent | on HN ]