A rather extraordinary ruling:
More weirdly, they can have the equity too.
I guess companies are going to have their lawyers find more and more of this as the crisis intensifies.
FoFP
A rather extraordinary ruling:
More weirdly, they can have the equity too.
I guess companies are going to have their lawyers find more and more of this as the crisis intensifies.
FoFP
They don't "have" the equity. They can recover what they are owed. "As the crisis intensifies" (as you put) the equity will increasingly fall short of the liability.
The banks sit on their hands for 20 years until the defaultee has built up some equity in another property and take that off him as well :)
Where there's any equity to take.
At today's auction, the places were going for approx 2001-2002 values.
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