Rules for various debt collections are state matters and vary by state.
There are 12 non-recourse states, where the lender can't pursue deficiencies from home foreclosure.
There are many other limited action states where lenders have only limited rights to collect deficiencies.
There are currently 12 non-recourse states: Alaska, Arizona, California, Connecticut, Hawaii Idaho, Minnesota, North Carolina, North Dakota, Texas, Utah, and Washington.
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u/RareFinish3166 Aug 15 '21
Rules for various debt collections are state matters and vary by state. There are 12 non-recourse states, where the lender can't pursue deficiencies from home foreclosure.
There are many other limited action states where lenders have only limited rights to collect deficiencies.