Friend is moving to New Zealand soon with his family - its a minimum 3 years contract and will probably be extended, he also has relatives living there.
In reality, I can't see him moving back as his lives for rugby & golf and loves NZ.
Over here he has house in a rural village with circa 300k mortgage and considering its really nowhere near any major population centre, 10 miles from main road and not even in an area that would get a single tourist.
In today's market, the house on a good day would probably get 130k - 150k (about 2000sq ft 1 acre).
If he cuts and runs - is there anything in reality the bank can do?
In reality, I can't see him moving back as his lives for rugby & golf and loves NZ.
Over here he has house in a rural village with circa 300k mortgage and considering its really nowhere near any major population centre, 10 miles from main road and not even in an area that would get a single tourist.
In today's market, the house on a good day would probably get 130k - 150k (about 2000sq ft 1 acre).
If he cuts and runs - is there anything in reality the bank can do?