Increasingly aggressive mortgage lenders are seeking to collect deficiencies from former home owners who walked away from their properties or sold them in short sales.
About one-third of U.S. states, including California and Arizona, prohibit collection efforts after foreclosure, but home owners usually waive that protection in a refinance.
Most states allow collection on unpaid home-equity loans.
Source: Bloomberg, Kathleen M. Howley
About one-third of U.S. states, including California and Arizona, prohibit collection efforts after foreclosure, but home owners usually waive that protection in a refinance.
Most states allow collection on unpaid home-equity loans.
Source: Bloomberg, Kathleen M. Howley
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