Nothing to do about insurance. Just an example

来源: laoshi48104 于 2015-05-30 18:23:36 [] [旧帖] [给我悄悄话] 阅读数 : (670 bytes)
本帖于 2015-05-31 04:40:00 时间, 由普通用户 laoshi48104 编辑
回答: Not understand 教训 3. No house insurance? 由 crz1 于 2015-05-30 18:16:08

If someone lawsuits you, they win. Your mortgage lien is the first lien to satisfy before other liens. So, all you lose is the difference of your mortgage amount and you can recover most of your money back.  Most people will drop the case if they find that they can not get the amount of money they want,  and they will negotiagte with you for settlement. 

If predators see that they can not make too much from lawsuit, they drop.  Less trouble for you.  This is one of the Asset Protection strategies. 

In today's world, lawyers 能把黑的说成白的。 Asset Protection is very important. 

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• Thanks a lot! You open my mind. I cash bought the house, probabl -crz1- ♂ 给 crz1 发送悄悄话 (0 bytes) () 05/30/2015 postreply 19:09:17

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