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Mortgages were defaulted on across the nation.
Most could easily repay the loan and almost none were defaulted on.
Similar(55)
"They were defaulting on their social contract," said Dr. Robert Walker, the associate dean of the Marshall University School of Medicine who maintains a country practice and includes program students on his rounds.
Six years ago it was broke, people were defaulting on their loans and unemployment was rampant," says Renato Grandmont, Latin America strategist for Deutsche Bank.
"We had people who were defaulting on their mortgages, but kept paying on their time-share" because "they could still look forward to a vacation".
"Extinction debts in the Brazilian Amazon are one debt that should be defaulted on," he writes.
Or it can be defaulted on.
To date, only 10 loans have been defaulted on.
Two separate Irish governments deemed it worth allowing a small portion of the liabilities to be defaulted on.
The debt was defaulted on in the 1991 collapse of the Soviet Union and again in the August 1998 financial crisis when the ruble's value plunged.
Apparently, pension funds follow that same rule of the universe: Though they may be defaulted on, the enormous sums don't simply disappear.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com