Invisible wrote:
>>> 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.

No. The house you mortgaged. Read your mortgage. It'll likely tell you wh
at 
you mortgaged.

Loan - the money you borrowed.
Note - the promise to pay it back.
Mortgage - what happens if you don't.

> 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 thei
r 
> money back.

Uh, I'm pretty sure that was gone by the Victorian era.

> 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 h
uge gap.

You need a better job.

-- 
   Darren New, San Diego CA, USA (PST)
   I ordered stamps from Zazzle that read "Place Stamp Here".

Post a reply to this message