>> I would be homeless, and financially destitute. The bank isn't going 
>> to let you stop paying the morgage just because your house burned to 
>> the ground. 
> 
> The bank has no way to force you to pay the mortgage. At least around 
> here. They'll just take whatever's left.

In other words, everything I own that has some kind of liquidity.

Besides, don't they just throw you in jail indefinitely if you have no 
money? These are banks we're talking about here; they *always* get their 
money back.

> But that's what insurance is for.
> 
>> And with no house to sell, it is impossible to buy a replacement. 
> 
> You need a better job.

1. This is not news. ;-)

2. House prices appear to start at around £300,000 or so. The very best, 
most unobtainable jobs pay £30,000/year. That's a pretty friggin huge gap.

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