Recourse or Non-recourse? - Loan Modification Forum

micealc · 09-26-2009, 06:15 PM

How do you figure out if your loan is a recourse or non-recourse loan? I live in Washington, and from what I've read here, it seems to make a difference in whether or not the mortgage company can come after you for more money following or during a foreclosure.

Kimbly · 09-28-2009, 03:46 PM

Hi and Welcome!

Recourse v. Non-Recourse States

Sorry - I'm not savvy enough to make that look all cute, but check out Prof Shays post in the Foreclosure Toolbox titled "Recourse v Non-recourse states" for some guidance.

09-26-2009, 06:15 PM	#1 (permalink)
micealc Junior Member Join Date: Sep 2009 Posts: 4 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Recourse or Non-recourse? How do you figure out if your loan is a recourse or non-recourse loan? I live in Washington, and from what I've read here, it seems to make a difference in whether or not the mortgage company can come after you for more money following or during a foreclosure.

09-28-2009, 03:46 PM	#2 (permalink)
Kimbly Senior Member Join Date: Feb 2008 Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Recourse or Non-recourse? Hi and Welcome! Recourse v. Non-Recourse States Sorry - I'm not savvy enough to make that look all cute, but check out Prof Shays post in the Foreclosure Toolbox titled "Recourse v Non-recourse states" for some guidance. __________________ 1st - CW/BoA: $137k 2nd - HSBC: $75k ($33k purchase money) Current market value based on sales: $69k

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode