Depends on the loan and the state (in the US). In most US states, a mortgage can be either recourse (which is as you described) or non-recourse (lender can only

Depends on the loan and the state (in the US). In most US states, a mortgage can be either recourse (which is as you described) or non-recourse (lender can only cover the debt using the house, not any other assets) - no idea which is more prevalent there. I live in a non-recourse state, which forbids recourse mortgages - https://www.legalmatch.com/law-library/article/what-is-a-recourse-state.html#Which-States-Are-Considered-Non-Recourse-States https://www.legalmatch.com/law-library/article/what-is-a-rec...?