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Remember the mortgage is secured on the house, so in a non-recourse state, you can simply hand the house back to the lender and walk-away. This is how commerci
by watmough 16y ago
Remember the mortgage is secured on the house, so in a non-recourse state, you can simply hand the house back to the lender and walk-away.
This is how commercial real estate works. Can't fill the building? Hand it back to the lender.