DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - US Middleclass on $11 per hour-on the edge of poverty

**HassFks** · 09-24-2010, 02:52 PM

They will not lose it all. They may lose their big house and have to downgrade to a smaller one. If no one is buying, it is in the family's best interests to negotiate with the bank on a stay of the interest, or partial payment until they regain their footing, or until such time the house can be sold at a profit. Banks too are business people and own the houses you live in, until such time you fully paid. So it is in their best interests to sell the house to cover themselves too.

09-24-2010, 02:52 PM	#4
HassFks Join Date Oct 2005 Posts 320 Senior Member	They will not lose it all. They may lose their big house and have to downgrade to a smaller one. If no one is buying, it is in the family's best interests to negotiate with the bank on a stay of the interest, or partial payment until they regain their footing, or until such time the house can be sold at a profit. Banks too are business people and own the houses you live in, until such time you fully paid. So it is in their best interests to sell the house to cover themselves too.
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