What is the true "kill zone"? Friend bought in at a high point in 2020, a 10 million yuan house, with a 3 million yuan down payment and 7 million yuan debt. By 2026, the house price dropped to 2 million yuan. Logically, if the business lost money, you could settle the debt by handing over the goods to the creditor and be done with it. Abroad, you throw the keys to the bank, file for bankruptcy, and walk away. Although your credit report gets blacklisted, at least you are free. But in China, don't even dream about it. You don't want the house? Fine, the bank takes it and auctions it for 2 milli
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