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> In the US you don't end up with a debt to the bank if the value is less than the loan That's only in certain states. Most states are "recourse states" where
by nknighthb 12y ago
> In the US you don't end up with a debt to the bank if the value is less than the loan
That's only in certain states. Most states are "recourse states" where the bank can sue you for the difference between whatever they sold the property for and the remainder of the loan.