Quote:
Originally Posted by dissentowner
It makes perfect sense. If they foreclose on his house they can sell it for much more then the $160k, then they pocket the profits. If they let him sell it for just what he owes then they lose the extra money. This about corporate greed and he shoved it up their arse. I think it's great he took a stand and damn the repercussions, not too many people have a set of balls that big.
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Except if the bank forecloses and sells the house for more then you owe they pay you the difference if you don't owe anything else to the bank.
The concern for the bank is that this guy sells the house, pockets the money and declares bankruptsy. Or sells the house to a friend for a doller.
I wonder if he had more outstanding debt with this bank then he's letting on.