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How could this happen? (media.piefed.world)
submitted 6 days ago by The_Picard_Maneuver@piefed.world to c/whitepeopletwitter@sh.itjust.works
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[-] PriorityMotif@lemmy.world 8 points 6 days ago

They only get to force the sale of the house to recoup their loan, you get to keep the extra from the sale. House sells for $300k, you owed $250k you walk away with $50k and the bank gets their money back.

[-] Tar_alcaran@sh.itjust.works 11 points 6 days ago

But on auction, the bid is usually FAR below the normal asking price.

this post was submitted on 18 Aug 2025
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