
Americans Are Dying with an Average of $62K of Debt - einars
http://finance.yahoo.com/news/americans-dying-average-62k-debt-110000416.html
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georgeecollins
This is a very deceptive headline. The most common kind of debt is mortgage
debt, which is by definition secured. At any moment I have lots of bills I am
supposed to pay and lots of assets or incomes to pay them with. Debts I owe
that are secured or I have resources to cover are not a problem for anyone.

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k__
And with secured you mean, they gonna take away your home if you can't pay?

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John23832
Considering the fact that you have died, that's a nonissue.

If you want to leave something for your offspring, make it a priority to pay
your house off first.

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joezydeco
Your offspring still would get any equity left after paying the remainder of
the note.

It's not like they confiscate the whole house because you still owe $100,000
on a $250,000 home. But the survivors _do_ have to keep the home out of
foreclosure (as in, keeping the payments current)

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toomuchtodo
I specifically invest in homes that have been foreclosed on when someone has
passed away, because I can't stomach the thought of purchasing someone's home
that they were evicted from because they couldn't afford it (ie vultures on
the court house steps).

I can't tell you how often someone's heirs either didn't know or didn't care
enough to take care of what was required to keep the mortgage in good standing
to sell the property and get the equity out.

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drewrv
Do you think maybe grieving families have different priorities than selling
off assets right away? Or maybe they're trying to sort out among themselves
who is in charge of making payments? Or maybe they can't afford payments
because the breadwinner passed away?

I'm not trying to judge what you do or what situations you're a part of, but
it doesn't sound much different than the "vultures on the court house steps"
to me.

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toomuchtodo
Foreclosure takes 1+ year in my state. I consider myself an acquirer of
abandoned property at that point, and again, I don't pursue acquiring the
property if there is a family attempting to live there (as you say, after he
breadwinner has passed).

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drewrv
Makes sense.

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k__
Sounds good to me.

Better than dying with 60k in an account that you could have spent on having a
better life.

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DannyB2
If I have a happy fulfilled life and die with unspent money left to others I
care about, that sounds great to me.

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vfulco
Exactly how the finance overlords want it. The last piece of the puzzle is
when they complete the obligation by attaching recourse to future generations
so there will be no escape. Indentured servitude in the new age.

