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Cobra Forums
2020+ Shelby GT500 Mustang
20k Over MSRP!
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<blockquote data-quote="GT Premi" data-source="post: 16246216" data-attributes="member: 121775"><p>The TR6060 could <em>easily</em> live with that engine.</p><p></p><p></p><p></p><p>You DO own it. Otherwise, you'd just be paying rent and it would be MUCH easier for the bank to evict you. Once you sign the deed, the house is yours. That's why homes are included in people's net worth. The bank just has a lien against the property. It has ZERO control over or responsibility of what you do with it. That's one of the major ways a home mortgage differs from a car loan. With a car loan, the vehicle secures the loan. If you default on a car loan, the bank can send the repo man out to confiscate the car. Foreclosing on a home is the last thing a bank wants to do. They lose thousands upon thousands of dollars on even an average priced property in foreclosure proceedings. Trust me, they WANT you to stay in the house and on the hook for the mortgage. There's much less financial risk in repossessing a car.</p></blockquote><p></p>
[QUOTE="GT Premi, post: 16246216, member: 121775"] The TR6060 could [i]easily[/i] live with that engine. You DO own it. Otherwise, you'd just be paying rent and it would be MUCH easier for the bank to evict you. Once you sign the deed, the house is yours. That's why homes are included in people's net worth. The bank just has a lien against the property. It has ZERO control over or responsibility of what you do with it. That's one of the major ways a home mortgage differs from a car loan. With a car loan, the vehicle secures the loan. If you default on a car loan, the bank can send the repo man out to confiscate the car. Foreclosing on a home is the last thing a bank wants to do. They lose thousands upon thousands of dollars on even an average priced property in foreclosure proceedings. Trust me, they WANT you to stay in the house and on the hook for the mortgage. There's much less financial risk in repossessing a car. [/QUOTE]
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2020+ Shelby GT500 Mustang
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