Can't Someone take a loan for say $100,000 towards a house.
Pocket the money and file bankruptcy?

Tell me how this cannot work.

this cannot work because it wont work nuff said

That $100,000 goes towards purchasing the house. The bank owns the deeds to the house. As long as the loan is less than the value of the house and the house doesn't fall in value the bank doesn't lose money with your foreclosure.

How do you plan on pocketing the money? I would have thought since the start of the crisis predatory lenders would not be lending more than 100% the value of the house. All the money goes towards the house which the bank owns.

That said in the USA what you suggest may be possible because:
1. Some lenders lend more than 100% of the value of the house. You can pocket the difference. Although I think that may have stopped.
2. The lender cannot chase after the borrower for debt! If that $100,000 house falls in value and the lender cannot reclaim the $100,000 - the lender loses money. They cannot take you to court to recover your other possessions. This only applies in the USA. If you tried it in Australia (and nearly every other country for that matter) the lender can take you to court.

I seriously wouldn't try it. Mainly because it probably won't work since lenders aren't lending more than 100% the value of the house. Also when you do fuck up your credit rating will be screwed for ever. You will be renting for the rest of your life.

what about an unsecured personal loan of 50k, theres venders who offer 30k cards that you see on tv, hardly worth filing bankruptcy for but if your old it could be a good idea

bankruptcy wont work, fleeing your life as u know it will. fake your death somehow

Good idea.
Would my credit be clean after seven years of filing bankruptcy?
I just want to make sure.

no! No!

No fucking way.

When you fake your death how will you make off with the money? The creditors will try to get the money from your estate.

One way is to sell everything you own and buy gold. Hide the gold then fake your death.

I'm not going to fake my death.
When did I say this?lol
I'm going to speak to a lender next week.
I'n the meantime i'll be doing research on the subject.
I'll post what I learn after I talk to the guy.
Thanks for posting.

bankruptcy costs about 100,000 to begin with - and it will put you out of action for longer than the time it would take to earn 100 grand on an average wage...