Comment on [deleted]
foggy@lemmy.world 2 weeks ago
Value of assets > value of loan
Hes cash poor but has collateral.
And likely has a history of repaying the loans he has. The bank is more than happy to lend money to someone with more assets than they are borrowing especially if they have a history of on time payment.
RowRowRowYourBot@sh.itjust.works 2 weeks ago
And likely has a history of repaying the loans he has. The bank is more than happy to lend money to someone with more assets than they are borrowing especially if they have a history of on time payment.