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Non-recourse states cannot pursue you for their financial losses.
Alaska
Arizona
Arkansas
California
Colorado
District of Columbia (Washington DC)
Georgia [THIS IS INCORRECT. GEORGIA IS A RECOURSE STATE]
Hawaii
Idaho
Mississippi
Missouri
Montana (if non-judicial foreclosure is used)
Nevada - (lender can get a deficiency judgment)
New Hampshire
Oregon
Tennessee
Texas (lender can get a deficiency judgment)
Virginia
Washington
West Virginia
The following states allow non-judicial foreclosure:
Georgia [Georgia allows non-judicial foreclosures]
Michigan
Minnesota
Rhode Island
South Dakota
Utah
Wyoming
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∙ 13y ago
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Where is it possible to get a debt consolidation mortgage?
You can get a debt consolidation mortgage from mortgage brokers, commercial mortgage bankers, commercial banks, credit companies, online lenders, savings and loan associations.
What happens to a mortgage after a bankruptcy?
What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.
What does the term bad debt mortgage mean?
The term 'bad debt mortgage' implies that the borrower has applied for a mortgage and been accepted. However, the borrower has then defaulted on his mortgage payments and it is considered that they are unlikely to be able to repay the loan.
What companies offer mortgage loan refinance and debt consolidation services?
Several companies offer mortgage loan refinance and debt consolidation services. These companies include First Mortgage Company , PNC Mortgage, Amerisave, and Evergreen Does Loans.
What is an antonym of mortgage?
There is no antonym of mortgage. The opposite of owning a property that is encumbered by a mortgage is owning a property that is free of any debt.
Are you debt free if you have a mortgage?
No. You are in debt as much as you still owe on the mortgage.
Is a home mortgage debt considered a federal debt?
No. A federal debt is a debt that is owned to the federal government. A home mortgage is a debt that is owed to the lending agency, be it a bank, a mortgage company, etc.
Where is it possible to get a debt consolidation mortgage?
You can get a debt consolidation mortgage from mortgage brokers, commercial mortgage bankers, commercial banks, credit companies, online lenders, savings and loan associations.
Where can I find information on mortgage debt relief?
Mortgage debt relief is an incredibly hot topic the world over. Generally, one should look into a credit repair type company for assistance in any type of debt relief, including a mortgage debt.
Who is responsible for mortgage debt after death?
The mortgage debt is the responsibility of the estate. The mortgage will have to be satisfied before the estate can be closed. Before anything in the estate can be distributed, the debts have to be cleared.
What happens to a mortgage after a bankruptcy?
What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.
Can you still lose your house after Bankrupty was discharge?
Yes, you can lose it if you do not make the payments on it. A bankruptcy discharge does not erase debt. It renders it nonrecourse -- meaning that you cannot be called upon to personally pay the debt. However, it does not affect liens. Therefore, if you don't pay the debt, the lien can be foreclosed.
What does the term bad debt mortgage mean?
The term 'bad debt mortgage' implies that the borrower has applied for a mortgage and been accepted. However, the borrower has then defaulted on his mortgage payments and it is considered that they are unlikely to be able to repay the loan.
How many people are in mortgage debt in the US?
Reliable figures on the total number of people in mortgage debt are unavailable, but there is over $14 billion of mortgage debt outstanding as of 2009 (figures based on Census projection figures from 2009). A very large number of Americans face mortgage debt, but accurate estimates of total numbers are very hard to come by.
Can a family member buy the house that is in a reverse mortgage?
Only if they pay off the outstanding debt owed on the mortgageOnly if they pay off the outstanding debt owed on the mortgageOnly if they pay off the outstanding debt owed on the mortgageOnly if they pay off the outstanding debt owed on the mortgage
What companies offer mortgage loan refinance and debt consolidation services?
Several companies offer mortgage loan refinance and debt consolidation services. These companies include First Mortgage Company , PNC Mortgage, Amerisave, and Evergreen Does Loans.
Is Florida a nonrecourse state on residential property?
No
