The Straight Dope

Go Back   Straight Dope Message Board > Main > General Questions

Reply
 
Thread Tools Display Modes
  #1  
Old 08-27-2010, 02:52 PM
Nobody Nobody is online now
Guest
 
Join Date: Aug 2000
True or false, "Banks can't foreclose on disabled people."

Someone talking to my wife and I said he heard that if you stop making mortgage payments but are disabled then you can't get kicked out of your house.

It sounds like total B.S. to me. What's the straight dope on the matter?

(I don't need an answer fast, I'm just asking out of curiosity )
Reply With Quote
Advertisements  
  #2  
Old 08-27-2010, 02:59 PM
Dinsdale Dinsdale is offline
Guest
 
Join Date: May 2000
False.
Reply With Quote
  #3  
Old 08-27-2010, 03:00 PM
Nobody Nobody is online now
Guest
 
Join Date: Aug 2000
That's what I thought.
Reply With Quote
  #4  
Old 08-27-2010, 03:12 PM
t-bonham@scc.net t-bonham@scc.net is offline
Guest
 
Join Date: Mar 2003
The only grain of truth in it is that a bank may (may!) be hesitant to foreclose on a disabled person, because of fear of bad publicity. Also, there may be government programs that could help the disabled person, which would give the bank more incentive to try to negotiate rather than foreclose.

But these are all choices made at the bank's option -- certainly nothing required.
Reply With Quote
  #5  
Old 08-28-2010, 03:09 AM
Jeff Lichtman Jeff Lichtman is offline
Head Cheese
Charter Member
 
Join Date: Feb 2000
Location: El Cerrito, CA
Posts: 2,666
If it were true banks would be extremely reluctant to give mortgages to disabled people. Why give a loan to someone who has a legal exemption from paying it back? This would be very bad for the disabled, and I would think that disabled advocacy groups would oppose it.
__________________
'Tis a pity that I have no gravy to put upon Uncle Hymie.
Reply With Quote
Reply



Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 09:27 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.

Send questions for Cecil Adams to: cecil@chicagoreader.com

Send comments about this website to: webmaster@straightdope.com

Terms of Use / Privacy Policy

Advertise on the Straight Dope!
(Your direct line to thousands of the smartest, hippest people on the planet, plus a few total dipsticks.)

Publishers - interested in subscribing to the Straight Dope?
Write to: sdsubscriptions@chicagoreader.com.

Copyright 2013 Sun-Times Media, LLC.