I think the bank will not lelong at loss but to recover the loan amount from previous owner. Your loan will be new chapter.
Question about selling property at loss?
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 Mar 13 2023, 08:28 AM
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Mar 13 2023, 12:01 PM
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QUOTE(munak991 @ Mar 13 2023, 08:40 AM) Thanks for quick answer. What I meant to say was say that a person buy a 500k house. Paid for 100k already but then cannot continue. Bank will lelong min at 400k just to get back the amount (or maybe less a bit). New buyer purchase with new loan. Ban still make profit regardless because you are now paying 400k + interest. Bank always make make So meaning if property sell at loss. They will find ways to take back the loss but not offer another loan?   |
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