Wednesday, December 23, 2009

Which States Make It Easier for Banks to Collect on Mortgages?

Ever wonder about recourse and non-recourse states? Well, neither did I, until I came across this post:

It appears that the following states make it easier for creditors/banks to go after homeowners personally to recover the difference between the amount owed and amount received in a sale:

Michigan, Minnesota, North Carolina, Rhode Island, South Dakota, Utah, and Wyoming.

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