From what I have heard, non-recourse (in CA) only applies to original purchase loans. Once you refinance, which most people do as rates change, it does not appl

From what I have heard, non-recourse (in CA) only applies to original purchase loans. Once you refinance, which most people do as rates change, it does not apply. Not that this distinction makes much of a difference - most people want to believe their land is still worth millions.