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| Don't Walk Away, Renee | |
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| Tweet Topic Started: Feb 3 2010, 04:47 PM (114 Views) | |
| QuirtEvans | Feb 3 2010, 04:47 PM Post #1 |
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I Owe It All To John D'Oh
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http://money.cnn.com/2010/02/03/real_estate/foreclosure_deficiency_judgement/index.htm |
| It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010. | |
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| brenda | Feb 3 2010, 04:51 PM Post #2 |
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..............
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After reading the threads about strategic defaults, I'm not surprised to see this. Not every state allows it though. |
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“Weeds are flowers, too, once you get to know them.” ~A.A. Milne | |
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| QuirtEvans | Feb 3 2010, 04:57 PM Post #3 |
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I Owe It All To John D'Oh
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Yes, in some states, first mortgages are non-recourse (meaning you can't chase the borrower, only the collateral) by law. I'm not sure that applies to second mortgages, though. |
| It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010. | |
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4:53 PM Jul 10