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    mortgages what hap;pens when someone goes to prison

    +2  Views: 421 Answers: 4 Posted: 13 years ago
    Tags: mortgages

    4 Answers

    Unless the person has a way of maintaining it, the bank will simply foreclose on the mortgage. It's just that plain and simple. There's no get out of jail free cards when it comes to financial debts in those instances.

    He gets punished badly or killed

    This all depends say if there is afamily in the house and the person who normally pays for the morgage goes to jail the us tax payers will pay for it as the the family will go on to a benefit skeame and the morgage people will say pay only the interest which by then its the tax payers will be paying for it as this works out alot cheaper than finding accomadation but when that peson comes out of jail it will normally go back to how it was then if they dont pay the morgage then they have devaulted this is was happens in the UK dont know what what happens in the rest of the world!

    If anybody cares ,which i doubt, they will help rent out and take care of it for that person.



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