REPORT ABUSIVE REPLY
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Message Subject
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If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
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Poster Handle
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Esoteric Morgan |
Post Content
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I've read through all of these posts, and I'm still confused:
IF the dollar crashes, how does this affect my mortgage note?
I don't see how my debt would simply be wiped out.
Even if my bank fails, won't the debt on my loan be transfered to another entity, who will then contact me for new payment arrangements?
This would mean that my debt is not wiped out, it is still a valid debt in some shape or form, right.
From what I have read in these thread answers, it seems that some of you are saying that the loan would be wiped out. That would mean that I'd then own my home free and clear.
That makes no sense to me, as much as I'd like it to be so.
Any help here, for me to understand how the system actually works?
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