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I see. So basically borrow to the max from the bank, stash the proceeds, and when the market turns against you deliberately default, making sure you don't have any other assets for the banks to seize. And I thought I had no morals. Alex

Do the words 'full recourse' mean anything to you, Analyst? You're seriously suggesting borrowing on a high valuation and then deliberately defaulting? Given that the bank will tack on all the fees in a foreclosure, probably sell the place at a crap price, and THEN go after the borrower for...