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0 pointsjcims6y ago0 comments

Is it housing cost or housing risk? Is one thing to put a million dollars into a home and sell it for $1.4m five years later. It’s another thing to owe s million on a place that’s now worth $400k.

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phonebanshee6y ago

That's not a thing in California. Loans on residential property are non-recourse, so if you owe more than it's worth you just stop paying.

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0 pointsjcims6y ago0 comments

Is it housing cost or housing risk? Is one thing to put a million dollars into a home and sell it for $1.4m five years later. It’s another thing to owe s million on a place that’s now worth $400k.

0 comments

phonebanshee6y ago

That's not a thing in California. Loans on residential property are non-recourse, so if you owe more than it's worth you just stop paying.

j / k navigate · click thread line to collapse