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Note that Washington state law allows for a choice of remedy - nonjudicial (quick) foreclosure, no deficiency; or judicial (slow) foreclosure, with deficiency available. Rev. Code Wash. 61.12.050 additionally provides "When there is no express agreement in the mortgage nor any separate instrument given for the payment of the sum secured thereby, the remedy of the mortgagee shall be confined to the property mortgaged." So borrower has to have agreed that deficiency is available. Washington law also provides that for loans secured by deeds of trust (rather than by mortgages), which means virtually every residential loan, "Except . . . for deeds of trust securing commercial loans, a deficiency judgment shall not be obtained on the obligations secured by a deed of trust against any borrower, grantor, or guarantor after a trustee's sale under that deed of trust." Non-judicial foreclosure of consumer deeds of trust are far and away the most common in Washington. per Mark
What else can I help you with?
Is Florida a nonrecourse state on residential property?
No
Is Kansas a non recourse state?
Is Kansas a nonrecourse state? A non
Is Massachusetts a nonrecourse state on residential property?
yes
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.
What Washington state is Seattle in?
There is only one Washington state ... and yes, Seattle is in Washington state.
The Evergreen State is the sobriquet of which western US state?
Washington has the nickname "Evergreen State"
Where do you get a Washington state diploma?
Washington State.
What state's flag has a portrait of George Washington?
The State of Washington.
What state is the grand coulee dam in?
Washington state
Is Washington a state or a territories?
Washington state used to be a territory (Washington territory) before it became a state. But then on Nov. 11 1889 Washington became an official state. So now Washington is a state and not a territory.
Why does the Washington state flag have a picture of Washington?
Because they named Washington state after George Washington
Is Washington the 44Th state or the 45Th state?
no, Washington is the 42nd state
