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delichon • yesterday at 9:09 PM • 1 reply • view on HN

Then the risk, delay, effort, and expense of pursuing a now unsecured debt is transferred from one defector to 150 cooperators. Every month of delay increases the loss.


Replies

lokar • yesterday at 9:15 PM

True. Another middle ground is a mechanics lean. You can't alter the title until you clear it, but they can't foreclose.