Nuther Brainstorm

[Vodin]

OK the SHTF starts.

If you only got your house 1/2 way payed off.... what happens? What is the financial result? If you cant pay mortgage on time? Or you 'made' the proper payments but the bank is closed...mailman wouldnt pick em up... internet was to laggy...

Seriously any ideas?

[The Stig]

Depends on what type of SHTF event we're talking about.

Hurricane or other natural disaster? You aren't getting out of your mortgage.

Financial disaster ala the Great Depression where order is maintained and life just generally sucks ass? You aren't getting out of your mortgage.

Slow unfolding event that takes years to fully develop into societal breakdown? You aren't getting out of your mortgage.

Unless it's a sudden, complete and total catastrophic meltdown of society that engulfs the entire country you are pretty much stuck paying your mortgage.

Just my $.02

[bacpacker]

My thoughts on this fall very closely with Stig. My feeling is pretty much anything short of WWIII, EMP, or total collapse of the world as we know it and you will be stuck with the mortgage. It would take something that will wipe records away completely to end it.

[Echo2]

Right now....a banker friend of mine said they wont even begin foreclosure proceedings until month 17 delinquent on payments....they can only hold so much real estate....and it's not selling in my AO.....even at auction.

If all else fails.....when they want to foreclose....tell them to "produce the note"....by law they have to produce every physical document.

Or if you just want to mess with your banker.....make your next payment in person....and ask to view it before you make the payment.....warning....they may pee a little....:)

[Vodin]

Thank you for the response.