> I guess that 100% of home mortgages (in highly developed countries) are recourse by legal requirements. Not necessarily so in the US. In several states (inc

> I guess that 100% of home mortgages (in highly developed countries) are recourse by legal requirements. Not necessarily so in the US. In several states (including the biggest ones like CA and TX), non-recourse mortgages are the default. In other states, sometimes non-recourse mortgages exist too. E.g. right now I'm sitting on a 2.5% fixed 30 year non-recourse mortgage.