- Joined
- Feb 19, 2020
Midfirst has lawyers on salary - legal fees are part of their business model. I do believe they'll squeeze for as much as they think they can get and a lien guarantees they'll eventually get something. A lien imposed by a court will likely also accumulate interest as well meaning the amount owed will grow.Yeah I mean I guess that angle is still live, he gets hit with a lien and he gets really mad about it. The only problem is that he wouldn't really ever bring it up on stream and im not sure dave is smart enough to actually be mad about future problems. It didn't hurt how many jpegs of hulk hogan is wrestling panties he can buy? Then he is A-OK!
My guess is the bank won't even come after him other then making threats and sending letters. Lawyers are expensive and people like DSP are common enough that there exists the term "judgement proof" which means that no matter how good your case is you have zero chance of getting any money from the settlement. The dude defaulted on the loan already and declared bankruptcy. Even if the bank is 100% sure they will get awarded the full settlement it is probably a better use of their time and money to use their lawyers on other cases. A lien only pays out if he sells the place AND if there is any money AFTER the secured debt lenders get paid and id bet if DSP ever walks away from that house its with more debt then equity.
Bottom line is a lien that he can't pay would limit his future options dramatically. He can't just sell and pocket the appreciation in value and now home prices are starting to fall fast.