In USA. As I explained in Europe it’s not a thing. Own contribution is a thing in USA and Europe. Therefore, banks don’t require own contribution because of defaults. Q.E.D.
I meant that intentionally defaulting on a mortgage when the property loses value and not paying the debt is not a thing. That’s what we were talking about.
In USA. As I explained in Europe it’s not a thing. Own contribution is a thing in USA and Europe. Therefore, banks don’t require own contribution because of defaults. Q.E.D.
What do you call it in Europe when someone stops making repayments on a loan ?
Obviously, that’s a thing.
I meant that intentionally defaulting on a mortgage when the property loses value and not paying the debt is not a thing. That’s what we were talking about.
Who is more likely to default, a borrower with $100k equity, or a borrower with negative $100k equity?
Read my other comments. I answered this already.
Read my other comments, explaining why people with negative equity often default on their mortgage.
Not in Europe.
(this is fun. let’s keep doing this forever!)