>It's like taking out a mortgage on a house, but letting the house owe the debt.
replyIsn't that a non-recourse loan, which in some states is the default for the initial loan to acquire the housel
When you put it like that, you make it sound reasonable! The house being collateral for the debt seems in a blurry way to be "the house owes the debt".
replyThat's pretty blurry, though. Blurry enough that we don't distinguish between the collateral and the borrower.
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