cuzo dammed if they do and if they dont. Say for instance you are paying your loan but neighbour is not, do you let them stay there? If so why continue paying your loan if you wont lose the house? ----------------------------------------
Hi adventra09,
It's a tough call.
I have a cousin in Houston Texas that went through the oil slump decades ago.
Everyone lost their jobs and couldn't pay the banks.
Apparently the banks just froze their repayments, left them in caretaker mode until crises was over.
I have read that in GFC they evicted them,couldn't sell the houses to recover their money. Squatters moved in ripping out copper wiring and anything valuable to sell.
The local councils were then sending banks warnings/ invoices for yard maintenance.
One city maybe alright to leave them in, but the whole country is another thing.
I read where Detroit council where going to bulldozer outer suburbs down rather than supply costly infrastructure where few residents live.
