Quote:
Originally Posted by m21sniper
Nothing like losing a house that was already paid for. It is amazing how stupid people are.
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True, but it depends on how much the house was worth. It sounds like it may have only been worth around $450,000. If that is the case, then they didn't really "lose" the house. They lived in it for free for over three years, and essentially sold it (to the bank) for $450,000.
The article says the family used the loan to try to start a construction business that failed. I guess there are worse things the money could have been spent on.