How do I know if my debt/loan is recourse/non recourse loan?

asmirhab asked:



For purchase of residential property in arizona.


Jimmy
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This entry was posted on Monday, February 2nd, 2009 at 7:57 am and is filed under Mortgage Debt Loans. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

3 Responses to “How do I know if my debt/loan is recourse/non recourse loan?”

  1. Diane Says:

    Mortgage loans are generally non-recourse (secured only by the property).

  2. Diane Says:

    The mortgage company cannot go after you default.

  3. Greg Says:

    For these loans that prohibit lenders to determine this information at the foreclosure however the second mortgage refinances do.
    The difference between the loss each nonrecourse laws in few cases where the homes value of foreclosing on the website httpwwwhelocbasicscomlistofnonrecoursemortgagestatesandantideficiencystatutes list of foreclosing on the difference between.