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Yes, Louisiana is a recourse debt state. This means that lenders can pursue borrowers for the full amount of the debt, including any deficiency after a foreclosure or repossession of collateral. In cases where the borrower defaults, the lender has the right to seek repayment from the borrower's other assets beyond just the collateral.
What else can I help you with?
What is the main resource of Louisiana?
Alligators are the main recourse in Louisiana
Is Louisiana a state or city?
Louisiana is a State.
What is Louisiana's state animal?
Louisiana's state animal is the Louisiana black bear.
What state is on the southside of Louisiana?
There is no US State south of Louisiana, Louisiana is on the Gulf of Mexico
What is Louisiana's state flower?
Louisiana's state flower is the magnolia.
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 Georgia a non recourse debt state?
"Is Georgia a non recourse debt state?" Since Florida is not a recourse state, and Florida adopted its laws from Georgia, Georgia must not be a recourse state.
Is Minnesota a non recourse debt state?
yes
Is Georgia a non recourse debt state for foreclosures?
Georgia is a recourse state. See Ga. Code Ann. § 44-14-161.
Is a car loan considered recourse or non-recourse debt?
I think is non recourse debt
Is Louisiana a non-recourse state for mortgage debt?
Louisiana is generally considered a non-recourse state for mortgage debt, meaning that lenders cannot pursue a borrower's other assets beyond the collateral property in the event of foreclosure. However, this applies primarily to certain types of loans, such as residential mortgages. It's important for borrowers to understand that specific loan agreements and circumstances may vary, so consulting a legal expert for tailored advice is advisable.
Is recourse debt subject to discharge in bankruptcy?
Recourse debt can be subject to discharge in bankruptcy, but it depends on the specific circumstances of the bankruptcy case and the type of recourse debt involved.
Is Ohio a non-recourse state for mortgage debt?
no....... the lender can go after you for up till 2 yrs after they sell the property.
Is California a non recourse debt state?
California is a non recourse state for your first mortgage. Be aware any form of second mortgage you will still be liable for.You may also be liable on the first mortgage if you have refinanced your original purchase mortgage.
Is a mortgage a recourse or nonrecourse debt?
A mortgage can be either a recourse or nonrecourse debt, depending on the terms of the loan agreement. In a recourse mortgage, the lender can seek additional assets of the borrower if the property does not cover the full amount owed. In a nonrecourse mortgage, the lender's only recourse is the property itself.
Is Alabama a non recourse state?
As of 12/20/2012 Oklahoma is a Recourse State.
Is Florida a non recourse loan state.?
Florida happens to be a recourse state.
