How would you answer this question?
that never happens. it's impossible. the gov will fix it
Oh boy oh boy oh boy
NO REFUNDS
No. You just got fucked goy.
you can reasses the value of your house and have the equity as a loss on your taxes.
None of that happens. You took out a loan to buy something expensive, and now it isn't worth as much as you paid, yet you still have to pay back that loan.
How is someone this stupid?
lololol someone’s nervous.
Banks don’t release the the foreclosed properties on the market to keep housing prices inflated
Reddit is now Yahoo Answers circa 2009 tier lel
Thread, seethe and dilate
You "lose money" in the sense you're now overpaying but you still have a house.
This may be the most brain-damaged post I have ever seen brought to this board.
Unironically this
Yahoo stopped comments
that person voted for biden
the ghost of kiev will bomb part of your house to compensate for the lost value
wait, actoually i don't think this works. it only works for avoiding the taxes or sum shit.
idk how its done but re-assessment is done when the prices go up so you can claim your house didn't go up in value by saying "see look its the same price" and its how people are able to deduct cost from their sale price and pay no taxes on the capital gain or sum shit.
Kill myself
HOW IS BABBY FORMED
You took out a loan. You must pay back the loan. That's it. Nothing else matters on what you took the loan out for.
>pay denbts
Uh, you cant coaim a loss til you sell. Trying to sell for less than the mortgage is called a short sale
>Say you buy a car at 25k, pay for a few years and then the car is valuated at a lot less.
>Does the money you paid on the load essentially pay off the car faster? Are you owed money?
>Thanks
It's kind of the reason you should purchase home GAP insurance.
I think what you'd have to do is basically sell your house to yourself at the new depreciated price and then you can list the difference between your buy price (or if you had an assessment when it was high that price) and what you sold it to yourself for (or your company or w/e)
then you can write that off as a loss
i think that's how it works i don't own a house i just have autism
20 years from now
>Is the president going to do home loan forgiveness?
These idiots never learn.
Yeah, that's not how it works. You become captive to the property. If you paid 500, and the mortgage balance is now 400, but market price is now 200, then if you sell it you will need to bring 200 to closing just to pay off the mortgage. Some folks just walk away and mail in the keys, jingle mail.
Some how you never read any of my posts
yeye that makes sense, i think the trick is selling the house to a company you own then you can make the claim on your taxes. but there are also taxes invovled with the sale itself so beats me if its worth doing or not.
1. You paid off the home. Good on you, you can keep it but you just wasted money.
2. You have locked in a mortgage. Oops. You can't refinance that debt. Too bad. Have fun trying to pay a debt you won't have money to do so.
Imagine being okay with this and also being okay with billions upon billions being sent to fight a proxy war against putin when those billions could've bailed out literally every homeowner making less than $200,000 per year and on top of that acting butthurt that people being fucked by jew banks have the nerve to ask how money sent to Ukraine is somehow better spent there than wiping out massive debt here in the US. Don't even get me started on sending money to Israel.
Depends. If you are vaccinated then yes, you are owned money by the government. Unvaccinated, I'm sorry you will have to keep paying your mortgage at the price previously agreed on with the bank.