Quote:
Originally Posted by mykalberta
His argument the bank wouldnt accept the 160K is complete BS. There is more to this story.
Banks dont just say umm you owe me $160K but I think I can get more. How does that make sense to anyone.
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He obviously owed the bank a lot more than $160,000.
Maybe he owed $160,000 on the house but I would bet my life that he has other outstanding debts with the bank and the house was the collateral against said debts.
What he wanted to do was pay off the $160,000 he owed on the house, keep the house free and clear, and let the bank whistle for the balance that he owed them.
The bank, of course, wouldn't accept that stupid deal.