In the US the lender has no recourse to other assets, so if the house price gets less than the loan they just leave. In doing so they blacken their credit rating, but perhaps the Americans nned to adopt the common world practice of not limiting the liability to the house? That would make them think harder before walking away. Where are they all going to live? Trailer parks? Or are they going to buy foreclosed houses at low prices? Itd make sense.
The smarties in the US are buying second homes at discounts while their FICO (?) scores are still prime and then returning the keys to their old one to the bank. Commonly called "jingle mail".
In the US the lender has no recourse to other assets, so if the...
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Last
$36.23 |
Change
0.200(0.56%) |
Mkt cap ! $112.2B | |||
| Open | High | Low | Value | Volume |
| $36.26 | $36.44 | $36.07 | $152.6M | 4.216M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3369 | $36.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $36.23 | 9815 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| NAB (ASX) Chart |