I know someone [I will call Jack] who is in deep trouble with his house; at least, it seems so. Firstly, I knew that he was having problems making payments on his $400K home, but I had no idea that he hasn't made a payment in over two years! So it seems there is no hope, but here is the rub. He stopped making payments and soon received the expected warnings wrt non-payment. Then he was informed that the loan had been sold to a bank in China. That was the last he has heard from anyone in almost two years. They haven't received any notices, payment coupons, or phone calls. He doesn't even know where to send a payment if he could afford it. After learning more about the situation, it is obvious that there is no hope. If the bank catches up with him, there is no way he can keep or afford the house. But it is almost starting to seem that the loan was lost. My advice was to keep his mouth shut and hope for the best. Thoughts?