Video: Troubling foreclosure numbers

updated 9/6/2007 8:30:47 PM ET 2007-09-07T00:30:47

Recourse v. Non-Recourse States
Aug 4, 2008 . The following article provides a summary of non-recourse mortgage . I thought Florida was a recourse State......has this list changed since .

Walking away from Florida mortgage doesn't always clear debt ...
Dec 20, 2009 . The Internet sites that suggest you can abandon your mortgage with . Despite bad information to the contrary, Florida is a recourse state.

HelocBasics | List of Non-Recourse Mortgage States and Anti ...
In a non-recourse mortgage state, borrowers are not held personally liable for . Connecticut. Florida. Idaho. Minnesota. North Carolina. North Dakota. Texas .

Florida Recourse or Non-recourse? - Broken Credit Blog
Jul 28, 2008 . Florida Recourse or Non-recourse? Filed under: Florida, . After 1.5 years of carrying mortgages we depleted all our assets and quit paying.

Is Florida a non recourse mortgage state
No, Florida is not a non-recourse state. If a mortgage is foreclosed in Florida, the lender may sue for any deficiencies between the amount of the loan still owed .

Which states are non-recourse states for mortgage debt
Since Florida is not a recourse state, and Florida adopted its laws from Georgia, Georgia must not be a recourse state. Is NJ a non recourse mortgage state? no .

Florida non recourse mortgage
No, Florida is not a non-recourse state. If a mortgage is foreclosed in Florida, the lender may sue for any deficiencies between the amount of the loan still owed .

Florida Foreclosure Laws for Nonrecourse Mortgages |
Other People Are Reading. Definition of a Nonrecourse Mortgage · Is Florida a Non-Recourse Foreclosure State? Print this article .

Foreclosure and Recourse in the State of Florida |
In California, loans are nonrecourse if they were used to purchase the property but recourse if they were acquired through a refinance. In Florida, all mortgages .

The Details Of Florida Foreclosure Law
Florida foreclosure law states that lenders have the right to initiate a judicial foreclosure in the event that a borrower defaults on their mortgage agreement and is .

All Locations - Non Recourse Mortgage - Real Estate Advice - Trulia ...
Find real estate advice about Non Recourse Mortgage on Trulia Voices. . Jose E . Huma…, Real Estate Pro in Miami Lakes, FL · Housing recovery also location, .

Is It OK to Walk Away From Your Mortgage? | Moneyland |
Jun 14, 2011 . If you live in a recourse state, the lender might sue you for the amount of the mortgage that the sale of the property you give back to them .

Recourse and Residential Mortgage Default: Theory and Evidence ...
We analyze the impact of lender recourse on mortgage defaults theoretically and empirically across . For instance, Florida and Texas have nearly unlimited .

Short Sale Deficiencies, Illegal in California. What About Florida ...
Jul 28, 2011 . For a loan to qualify as a purchase money mortgage in California, the loan must . Recourse states like Florida provide no such protections to .

Taking Advantage of Non-Recourse States & Walking Away From A ...
Jul 6, 2011 . Refinancing now is generally a wonderful idea as jumbo loans are back to all time lows. That said, what happens if you are so underwater on .

List of non-recourse mortgage walkaway states
"Because US mortgages are "no recourse" loans (lenders have no recourse to the . Partner and I purchased investment condo in Florida in June 2007.

Non Recourse Loan - Florida Reverse Mortgage Lender
Apr 6, 2008 . Non Recourse means that you or your estate can never lose more than the home. If your home goes into foreclosure on a recourse loan, and .

snowflake5: The problem of the American non-recourse mortgage
Jan 22, 2009 . The problem of the American non-recourse mortgage. In Britain (and most of the world), all mortgages are "recourse mortgages". That is, the .

Mark Sunshine: What to Learn From Florida's Mortgage Meltdown
Jan 10, 2011 . The Florida 50%+ non-payment pool includes all the mortgages that . They argued that the sooner he legally cut off recourse the sooner he .

Non-Recourse Loan :: Stock Loan Lending - Florida Mortgage ...
Non-Recourse Loan Lending available nationwide and internationally.

Short Sale of Strategic Default in FL? - Zillow Real Estate Advice
Jun 30, 2011 . It may very will take over 18 months to get the bank to foreclose in Florida. Forgiven "recourse" mortgage debt after that time may end up being .

Mortgage Workouts & Foreclosure Defense | TTannenbaum Scro ...
Florida mortgages are recourse debts. That means if part of the debt is discharged under certain circumstances, you have to pay ordinary income taxes on that .

hat Canadian Citizens Need to Know Buying a 2nd Home in U.S.
There are other potential benefits of a non-recourse mortgage on a second home in Florida that can best be explained to you by a qualified attorney.

I'm considering a strategic default on my mortgage (home equity ...
Feb 10, 2012 . Actually, Florida is a recourse state. Meaning they can come after you for the balance of the mortgage after they sell the house. Which is the .

Florida is a recourse state | Blog
Florida is a recourse state. If a mortgage is foreclosed in Florida, the lender may sue for any deficiency between the amount of the loan still owed by the borrower .

It's ALL about the income
Apr 11, 2012. markets of states like Arizona, Texas and Florida, where non-recourse mortgage laws mean you can default on your mortgage and the lender .

Walking away from your mortgage has consequences - USATODAY ...
Mar 24, 2010 . Purposely defaulting on a mortgage may be a very rational personal finance decision, but it's . But in some states, such as Florida, they have five years to do so. . Among the non-recourse states are California and Arizona.

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    How Non-Recourse Loan Laws Vary from State to State -
    In the case of a mortgage, the non recourse loan is protected by the home, and in . recourse loan states: Alaska, Arizona, California, Connecticut, Florida, Idaho, .

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