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Real Estate & Property Law

: The Home Equity Theft Reporter

"No-Deficiency" Laws Give Homeowners "Get Out Of Jail Free" Card When Walking Away From Unaffordable Mortgages

By r morris

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The Associated Press reports: Mortgage law experts say the incentive to walk away from a home loan is highest in states that have anti-deficiency statutes, which prohibit lenders from suing borrowers for additional funds after foreclosure."These anti-deficiency laws make a huge impact on foreclosure rates because they are basically 'get out of jail free' cards," said Todd Zywicki, a law

Full post as published by The Home Equity Theft Reporter on December 19, 2008 (boomark / email).

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