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Tennessee is considered a non-recourse state regarding certain types of loans secured by real estate, meaning that lenders cannot pursue the borrower’s other assets in the event of foreclosure. However, it's important to note that this non-recourse treatment typically applies only to purchase money mortgages and not to refinanced loans or home equity lines of credit. Borrowers should always review their specific loan agreements for details since terms can vary.
What else can I help you with?
Is Florida a non recourse loan state.?
Florida happens to be a recourse state.
Is Nevada a non recourse state?
Yes, Utah is a non recourse state. Please view the related link below.
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 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 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 PA a non recourse state?
NO
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 South Carolina a non-recourse state?
It appears,from everything I have read, SC is a recourse state.
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 NJ a non recourse mortgage state?
no
Is Minnesota a non recourse debt state?
yes
