this post was submitted on 18 Aug 2025
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How could this happen? (media.piefed.world)
submitted 4 days ago by The_Picard_Maneuver@piefed.world to c/whitepeopletwitter@sh.itjust.works
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[–] But_my_mom_says_im_cool@lemmy.world 161 points 4 days ago (31 children)

I can walk into a bank today with a mortgage cheaper than rent, and I’ll be denied cause I don’t make enough money, explain that logic to me.

[–] tburkhol@lemmy.world 26 points 4 days 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 4 days ago (1 children)

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

[–] scytale@piefed.zip 7 points 4 days ago* (last edited 4 days 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.

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