Hi, I'm kinda in a situation where I might need to work full-time and quit studies to support my parents financially. My parents were let off with a redundancy that has not yet come into their bank account, and the company itself had ceased operations last Friday. My parents think they will get their payments electronically on their bank accounts next week.
Anyway, does the money spent over the past years and property become forfeited to a point that it now belongs to the company along withthe land value?
Added (1). They already paid for the house and land, but interest rates are close to $30.000.
Added (2). It's my parents who told me this, and I know my money.
Read more: What happens to a mortgage that wasn't paid off, but was nearly paid off?
