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ThrustVectoring comments on US default as a risk to mitigate - Less Wrong Discussion

2 Post author: bokov 15 October 2013 04:41PM

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Comment author: ThrustVectoring 16 October 2013 07:47:31PM 1 point [-]

If a cheap meal costs $100 instead of $5, then your $100k mortgage is backing a $2mil house, and you can borrow against your instant equity (even with no income or job).

The interest rates may suck on borrowing against your home equity, but it's better than losing your house.