I saw a self-description of a person who defaulted on his mortgage: He bought a house for 1.5 million yuan, but after two years of paying the loan, the bank took it back because he defaulted on the loan. He only got 840,000 yuan at the auction, and he had to continue to pay back the more than 600,000 yuan he lost [sweat]... In other words, he spent more than 600,000 yuan on the new house he lived in for two years.

I sent this news to my best friend who works in real estate, and she said that this situation was good. The house was sold for more than 800,000 yuan, which was better than those who bought unfinished buildings... Ah? People who buy unfinished buildings have to pay off the loan for life?

I asked if there is no personal bankruptcy law? She said she had never heard of it.

I know that the United States has Chapter 7 of the Personal Asset Bankruptcy Law. During the 2008 subprime mortgage crisis, many people applied for it. They couldn't pay their mortgages, and the bank took back the house, which was considered a settlement. I have several friends whose families couldn't pay their mortgages after buying houses, so they could only apply for bankruptcy, but their credit losses were severe and it would take 7 years to recover.

Brothers, hold on, the bull market will eventually come #币安合约锦标赛 #MegadropLista #币安上线ZK #币安HODLer空投 #CryptoTradingGuide $BTC $ETH $BNB