What will happen with our mortgages in case of default

[texdav]

Fixed rate mortgage; it stays the same rate. You win on that one. Its a contract.

[Dressy]

Originally Posted by texdav

Fixed rate mortgage; it stays the same rate. You win on that one. Its a contract.

I understand, I was wondering if hyperinflation can be something like a Force Major to a contract, see?

[chet everett]

Originally Posted by Dressy

I understand, I was wondering if hyperinflation can be something like a Force Major to a contract, see?

Hyper inflation is actually a LIKELY consequence of governmental mis-management. It has happened in lots of countries.

Thus it is PREDICATABLE and would FAIL to be a "force majeure" on that very basis.

If lenders would ask courts to change FIXED RATE mortgages I think that too would lead to PREDICTABLE "insurrection" --

[Dressy]

I am guessing the government will catch up on increaing property taxes. bingo . It was silly of me not to think about that. haha.

[Nor'Eastah]

Originally Posted by chet everett

I think that too would lead to PREDICTABLE "insurrection"

In light of what has been going on around the world already, I agree with you about this, and feel it could be a very scary scenario!

[bradykp]

Originally Posted by chet everett

Enlighten me...

this thread is mind boggling.