Seattle Bubble Forum Archive

Here is a list of states with non-recourse legislation, making it difficult for lenders to pursue borrowers who default for anything other than the house.



This link actually came from talking about how wealthy home-owners are trying to scam the system and get their mortgage principals reduced.

Wahoo! We made the list.

Be careful, .

People also have to understand that not every home loan would be non-recourse. Generally this would only apply to first mortgages that are purchase loans. So if you've refinanced or if you have a second mortgage, being in a 'non-recourse' state doesn't protect you from a deficiency judgment.