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If a mortgage is foreclosed in Florida, the lender may sue for any deficiencies between the amount of the loan still owed by the borrower and proceeds from the sale of the asset. This applies to mortgages, home equity loans, etc.
which is being Forclosed upon in the State of Florida, which I understand to be a Recourse State. Since the loans are Non Recourse so I 'm not protected against them comming after my assests for any deficiency, even though the state of Florida is a Recourse State?
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∙ 13y ago
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Is Florida a non recourse loan state.?
Florida happens to be a recourse state.
Is Massachusetts a non recourse debt state?
Massachusetts is a non recourse debt state. Other non recourse debt states are Kentucky, Louisiana, Maine, Maryland, Michigan, Montana, and Mississippi.
Is NJ a non recourse mortgage state?
no
Is Minnesota a non recourse debt state?
yes
Is North Carolina a non recourse state?
North Carolina is considered as a non-recourse state. People who live here can leave their mortgage without any penalty of putting their other assets at risk.
Is Florida a non recourse loan state.?
Florida happens to be a recourse state.
Is Georgia a non recourse debt state?
Yes, Georgia is a non-recourse debt state. This means that in the case of a foreclosure, the lender cannot pursue the borrower for any deficiency balance remaining after the sale of the property.
Is Alabama a non recourse state?
As of 12/20/2012 Oklahoma is a Recourse State.
Is Kansas a non recourse state?
Is Kansas a nonrecourse state? A non
Is Nevada a non recourse state?
Yes, Utah is a non recourse state. Please view the related link below.
Is South Carolina a non-recourse state?
It appears,from everything I have read, SC is a recourse state.
Is PA a non recourse state?
NO
Is Massachusetts a non recourse debt state?
Massachusetts is a non recourse debt state. Other non recourse debt states are Kentucky, Louisiana, Maine, Maryland, Michigan, Montana, and Mississippi.
Is Kentucky a Recourse or Non-Recourse or One Action state?
Kentucky is a recourse state, allowing the lender to seek judgments and damages from the borrower.
Is Florida a nonrecourse state?
No, Florida is not a non-recourse state. If a mortgage is foreclosed in Florida, the lender may sue for any deficiencies between the amount of the loan still owed by the borrower and proceeds from the sale of the asset. This applies to mortgages, home equity loans, etc.
Is Maine a non recourse state for mortgage default?
Yes, Maine is considered to be a non-recourse state for mortgage default. A non- recourse means that if you default on paying your mortgage, the government can take your home from you.
Is NJ a non recourse mortgage state?
no
