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https://www.forbes.com/advisor/loans/recourse-loans-vs-non-recourse-loans/ https://www.forbes.com/advisor/loans/recourse-loans-vs-non-r... Home mortages are re

https://www.forbes.com/advisor/loans/recourse-loans-vs-non-recourse-loans/ https://www.forbes.com/advisor/loans/recourse-loans-vs-non-r... Home mortages are recourse loans in all but 12 states (Alaska, Arizona, California, Connecticut, Idaho, Minnesota, North Carolina, North Dakota, Oregon, Texas, Utah and Washington).

CogitoCogito 6y ago
Thank you to you and the others responding for the clarification. I guess I just took my California experience and incorrectly assumed it was similar in the rest of the US.
anonAndOn 6y ago
This had a profound effect on house prices in Arizona back in 2009-2010. The Phoenix market, in particular, was flooded with borrowers who walked away when they had negative equity.