[lbo-talk] Another ignorant question on my part

[andie nachgeborenen]

They're out of luck, assuming that you are otherwise
broke, which is why you defaulted. I mean, they could
sue you, unless you declared bankruptcy, but like my
contracts prof used to say, the first rule of
litigation is to Sue Solvent Defendants. jks

--- Jordan Hayes <jmhayes at j-o-r-d-a-n.com> wrote:


> > Let's say I default on a mortgage and the bank
> takes the
> > property, and after they sell the property, they
> only get
> > half of what I owe them. What happens to the other
> half of
> > the debt?
> 
> They write it off, probably.  $0.50 is better than
> nothing.
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