Quote:
Originally Posted by Rick Lee
Really? So even though the bank loaned $300k on a property that was worth $360k at the time, they should have to accept less repayment for it if the value decreases? Wow. I wonder if they can demand higher payments when the value increases too. Shirley, you can't be serious.
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Rick, I didn't say I agreed with it. I just put it out there as a solution. Is it the right one? No. Would I do it? Hell no. But then again, I wouldn't (and didn't) buy a property that was severely over-valued.