It’s really easy to get a mortgage for 20% of a property and assign it to a corp... | Hacker News

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		_3u10 on Nov 22, 2022 \| parent \| context \| favorite \| on: Why Twitter didn’t go down: From a real Twitter SR... It’s really easy to get a mortgage for 20% of a property and assign it to a corporation. In fact most banks will go as high as 80%, especially if the house can rent for the mortgage payment. And they will definitely do that deal if you’re willing to pay 10% interest.

guiriduro on Nov 22, 2022 [–]

True, but the difference is all about what happens when you can't pay the 10% interest or get into significant negative equity. If you can just walk away, then you have "rich person accounting."

lmm on Nov 22, 2022 | [–]

Mortgage loans are non-recourse in several states. A lot of people can and should just walk away from their mortgage.

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