[OT] Personal Finances: Was The perfect MP3 player
gshipley at gmail.com
Mon Sep 19 12:12:07 MDT 2005
On 9/19/05, Shane Hathaway <shane at hathawaymix.org> wrote:
> More likely, bankrupt home owner A (who owes $100k) could sell the home
> for $250k to a third party, paying off the loan and still having $150k
> to move into a smaller home with zero debt. Bankrupt home owner B would
> have no way to buy a new house.
Assuming someone is willing to buy the house. If we were in a
depression, moving a 250k is not going to be easy. The bank can hold
it until better times arrive and then sell.
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