My ex neighbor (good friend) has no children and is single (said he will not marry), in his 70s. He wants to buy a house, and said what if he buys an expensive one with large mortgage, and enjoy the nice house while he's living, and let the bank collect whatever remains of his mortgage after he dies. He wants to know if the banks would take his age into account when deciding on the mortgage application. I'm not sure. Anyone knows? Basically he meant he will not care about owing money during lifetime…
Read more: Heirless person' loans/mortgages?
