answersLogoWhite

0


Best Answer

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

North Carolina

Rhode Island

South Dakota

Utah

Wyoming

User Avatar

Wiki User

โˆ™ 2011-02-09 21:19:03
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar
Study guides

Mortgages

20 cards

When buying a house can you get a larger house loan so you can pay off some of your credit cards and car

How long do you have to wait in Canada before purchasing a house after bankruptcy

What is a mortgage lien

Is home owners insurance required

โžก๏ธ
See all cards

Personal Finance

23 cards

What is God

What is the reason for putting yourself on a budget

What provides a bank with collateral on a car loan

What is one of the disadvantages of getting a government-sponsored mortgage

โžก๏ธ
See all cards

Mortgages

25 cards

What is principal

What institution insures individual banking accounts

Which of these is the best description of delinquency

What is done with the finance charge assessed by a credit card company

โžก๏ธ
See all cards

Add your answer:

Earn +20 pts
Q: Which states are non-recourse states for mortgage debt?
Write your answer...
Submit
Related questions

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.


Are you debt free if you have a mortgage?

No. You are in debt as much as you still owe on the mortgage.


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


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.


How do you renegotiate your mortgage?

{| |- | If your current mortgage has a high interest rate, you're stuck in an adjustable rate mortgage, or you want cash out or to consolidate your debt, the answer to your mortgage problems is refinancing. Mortgage refinancing allows you to pay off the remainder of your existing loan by taking on a new loan with better terms. You can even opt for Debt reduction programs from Freedom debt relief to get out of debt. |}


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.


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.


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 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.


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.


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.


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.


can i as a senior citizen get a grant to help free me of the debt that i have credit cards and mortgage?

can i as a senior citizen get a grant to help free me of the debt i have including credit cards and mortgage?????????


How would one go about remortgaging their debt?

Remortgaging is taking out a new mortgage to replace an existing mortgage with the potential to consolidate debt and reduce payments. The least expensive way to remortgage ones debt is to negotiate with ones current lender for a new mortgage with a lower interest rate, consolidating ones debt at the same time. By extending the length of the mortgage, the monthly payment may be reduced. The alternative is to seek a new mortgage from a different lender and pay off the existing lender. The goals of debt consolidation and reduced monthly payment remain the same.


If a debt collector puts a lien on your house does that mean your mortgage co forecloses your house?

It does not follow. The lien of the debt collector comes after the mortgage loan. Which means that the debt collector still may not be able to collect any money.


Mortgage lates after filing chapter 7 Can a mortgage company report lates after filing of a chapter 7 and before a discharge?

Yes. That reporting to a credit agency of an item of fact, is not an attempt to collect the debt. Your not expecting you mortgage debt to be discharged are you?


What happens to second mortgage in foreclosure?

After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.


If a motion was not filed in a chapter 7 bankruptcy but the debt was charged off can the judgment be transferred when buying new property?

Bankrutpcy doesn't erase debt. It just renders it nonrecourse as to the debtor. I'm not sure what motion you are referring to, but the judgment should not attach to new property acquired.


Where can a person go to get information on debt loan and mortgage consolidation?

Depending on the nature of the debt/loan or mortgage, first place would be to talk to the creditors themselves. Or speaking to debt consolidation specialists and charities such as StepChange (CCCS) or Citizens Advice.


What is a mortgage-?

A mortgage is a loan to finance the purchase of your home. This is likely the largest debt you'll ever take on.


What happens to the first mortgage if the second mortgage is in foreclosure?

nothing...it remains a lien on the property and a debt which is assumed by the successful bidder at the auction of the 2nd mortgage


Can you refinance your 1st mortgage after discharge?

If your first mortgage has been discharged it cannot be refinanced since there is no longer any debt. You can grant a new mortgage.


Statute of limitations for mortgage debt?

9 years.


Which type of debt is most often secured?

Mortgage