making it easy to walk away: a list of non-recourse states

sniglet

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.

http://www.mortgagereliefformula.com/recourse/

This link actually came from a larger article in the New York times talking about how wealthy home-owners are trying to scam the system and get their mortgage principals reduced.

rose-colored-coolaid

Wahoo! We made the list.

perfectfire

Be careful, that site is pretty sleazy.

laxtosnoco

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.