You have just justified them getting screwed, invoked a class they can afford it, then added on.
A 500k house in riverside is not a mansion. It's not even in a good neighborhood.
If it's their dream home, that's all they had.
Guess what, I you have a 500k house and only owe 20k on it, I guarantee someone will try and get the title. You either own it outright, or you carry a huge ltv mortgage. Never owe just a little, you are stupid if you do.
Never owe just a little, you are stupid if you do.
How exactly do you figure being close to paying off your mortgage is stupid???
If you owe $1 on a piece of property you can have it repossessed.
If you own a bank that buys mortgages, you buy the ones with a very low loan to value ratio.
Now you start "losing" the payments, file for liens and start repossession proceedings.
6 -12 months later, multiple legal maneuvering and jurisdictions, you have ram rodded your way into legal ownership.
Pretty sure you helped my point. 500 grand for a shitty home in a shitty neighborhood? Time to find another place to live.
500k dream home says not a lot of money... so tell me again how they have plenty of money so it doesn't matter (which was your point).
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