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Wow, how can I walk away from mortgage debt? Did I miss something?

• jxi 8y ago
  You can default on properties.. like Trump did.
• asdfasgasdgasdg 8y ago
  Stop paying your mortgage, and the bank will eventually take your house. But they can't take anything else, no matter how much you owe. In many other countries, this is not the case.
• nikanj 8y ago
  Mortgages are non-recourse in 11 states. The expression "jingle mail" might also be worth googling. In Canada, and the rest of the US, if your mortgage is underwater it's a problem for you. In those 11 states, it's a problem for the bank.
  • remote_phone 8y ago
    During the housing bust, no one was held liable for foreclosures. Their credit rating was busted but that’s it.