this post was submitted on 18 Aug 2025
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How could this happen? (media.piefed.world)
submitted 11 months ago by The_Picard_Maneuver@piefed.world to c/whitepeopletwitter@sh.itjust.works
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[–] tburkhol@lemmy.world 27 points 11 months ago (1 children)

If something were to happen, and you couldn't make rent, you might get evicted, which would be inconvenient.

If something were to happen, and you couldn't make the mortgage, the bank might lose money, which is unconscionable.

[–] DeathByBigSad@sh.itjust.works 3 points 11 months ago (1 children)

But the bank can take the house as collateral, what are they even losing?

[–] scytale@piefed.zip 7 points 11 months ago* (last edited 11 months ago)

Probably much easier to have someone reliably pay than to have to go through all the processes of defaulting, repossessing, renovating/repairing, and reselling.