mc now 380m, page-18

Just thought - if my house is worth $500,000 and my mortgage is $100,000 and I miss three payments of $1,000, would my bank foreclose on me?

I think not, they would extend credit to me to allow the house to be sold within say 3 months, by which time I would get that $500,000.

If the bank tried to foreclose on me I would a) use my credit card or get a loan from somewhere for the $3000 to make the payments, b) sell the house and get the $500,000, c) go to the solicitors and get the bank into court to show why they would force a sale, d) go to the press and expose the bank as a mean little dweeb, e) any number of other possibilities.

As to Centro, I think it is the banks that hare being held by the short and curlies - I will lose $80K - they will lose $15B+