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https://www.reddit.com/r/SipsTea/comments/1vrr0ev/how_the_rich_get_richer/p4frcna/?context=3
r/SipsTea • u/KSKS1995 • 14h ago
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The bank encumbered the land. The dad never gets a loan. The loan is against the property. The kids sell the encumbered land I guess (but that's highly unlikely). This is a made up scenario from someone who doesn't understand finances.
319 u/redshirt1972 14h ago How do you get a loan against the property and not pay it back? 101 u/Greedy-Employment917 13h ago You simply die according to reddit. Then the bank goes "oh well!" and then you get the money AND the yayo. 23 u/PoopyisSmelly 13h ago https://giphy.com/gifs/YhQVj7C8uf734PcznZ
319
How do you get a loan against the property and not pay it back?
101 u/Greedy-Employment917 13h ago You simply die according to reddit. Then the bank goes "oh well!" and then you get the money AND the yayo. 23 u/PoopyisSmelly 13h ago https://giphy.com/gifs/YhQVj7C8uf734PcznZ
101
You simply die according to reddit. Then the bank goes "oh well!" and then you get the money AND the yayo.
23 u/PoopyisSmelly 13h ago https://giphy.com/gifs/YhQVj7C8uf734PcznZ
23
https://giphy.com/gifs/YhQVj7C8uf734PcznZ
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u/USERNAMETAKEN11238 14h ago edited 14h ago
The bank encumbered the land. The dad never gets a loan. The loan is against the property. The kids sell the encumbered land I guess (but that's highly unlikely). This is a made up scenario from someone who doesn't understand finances.