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/biz/ - Business & Finance

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56123116 No.56123116 [Reply] [Original]

>take out $500,000 in loans
>buy a house with said cash
>don't answer the door for 4 years until the statue of limitations for being sued over debt expire
why wouldn't this work?

>> No.56123127

>>56123116
>pay someone $5,000 to sit in front of your house for a month
>you have to choose, get served or starve to death

>> No.56123143

>>56123127
>use doordash
>leave big tip in exchange for them tossing the food over the fence into the backyard

>> No.56123144

>>56123116
Pay $1 a month and pursue a payment plan. You will get a continual clock reset for foreclosure

>> No.56123259

bump

>> No.56123455

>>56123116
> Sheriff bursts through your door and forcefully removes you
> some criminal rapes you in jail
> you never get a job or loan again

sounds like a good idea anon!

>> No.56123557

>>56123455
they can't do that without a warrant or eviction

>> No.56123736

they dispossess you of the property regardless, learn about home equity theft

>> No.56124519

>>56123144
Does this actually work? Can they force you to agree to a payment plan?

>> No.56124567

>>56123116
In the case of a typical home mortgage, obviously you would be evicted once the foreclosure sale happens. But as for unsecured personal loans? Couldn't you just file for bankruptcy? This behavior is probably why it's so hard to get large personal loans without holding the title to your property hostage

>> No.56124716

>>56123557
And how long do you realistically think this will take? Do you think you are the first genius to just "stop paying" your mortgage? How many fucking lawyers do you think the bank has? How many fucking warrants do you think the judge signs every single day? Complete and utter delusion.

>> No.56124723

>>56124567
the most the average american is getting an unscured personal loan for is about $20k. and that would be with a pretty outstanding credit score.

>> No.56124759

>>56124723
this is technically true but in fact any average faggot can get upwards of $100k in consumer credit lines. you can liquidate these credit lines by running payments through your own merchant account, which is as simple as getting a square reader/ account.