no-recourse loans
No Recourse? A No-Brainer!
18/02/12 16:13 Filed in: Texas constitution section 50 | home equity loans
Since Texas home equity loans are "no-recourse," which means that a lender may not pursue a borrower for any deficiency following a foreclosure sale, why doesn't everyone who worries that defaulting on their home loan could threaten them at some point in the future go out and get a home equity loan? Borrowers acting in good faith would never be on the hook for a deficiency judgment if they default! Read More...
0 Comments