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  • The Government's Subprime 'Bailout' Plan Will Kill the Housing Market [View article]
    Not all States are "recourse" states for loans or mortgages. In many states, if you go bankrupt whatever you still owe above what money the bank gets on a property sale is just wiped off the books, yours and theirs.

    This is what "non-recourse" means.
    Dec 07 17:42 pm |Rating: 0 0 |Link to Comment
  • The Government's Subprime 'Bailout' Plan Will Kill the Housing Market [View article]
    Not all States are "recourse" states for loans or mortgages. In many states, if you go bankrupt whatever you still owe above what money the bank gets on a property sale is just wiped off the books, yours and theirs.

    This is what "non-recourse" means.
    Dec 07 17:42 pm |Rating: 0 0 |Link to Comment
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