2 ms·
> You should be able to hand the keys to a mortgage company and walk away debt free. That's already the case in the US for original mortgages. If you refinance
by thaumasiotes 1y ago
> You should be able to hand the keys to a mortgage company and walk away debt free.
That's already the case in the US for original mortgages. If you refinance your mortgage, you generally lose that benefit.
- thaumasiotes 1y agoFollowup: I'm pretty sure I confused the concept of "recourse" (whether the originator can pursue you for any money they couldn't recover from the collateral) with the concept of a prepayment penalty. As best I can tell, mortgages are non-recourse in some US states, but recourse is available in others.