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by xormapmap 957 days ago
> It’s not uncommon for borrowers to extend their loans until their deaths

How is this possible? I can't imagine any bank giving me a loan knowing there's a good chance I won't be alive to pay it back.

2 comments

The heirs will inherit the loan. If they refuse it,the house would be sold and the profit will be used to repay the loan
Property doesn't stop existing when the owner dies. When the owner dies, the property is probably sold soon after, then loan is paid.