Anti-Deficiency Statutes

In many states, depending on your mortgage situation, if you chose to “walk away” from your mortgage, you can sometimes be on the hook for the balance of the mortgage in relation to what the bank gets in an auction proceeding.

The difference is called the “deficiency.”

(I think I’ve mentioned this in a prior post, but if not, and for new readers, the concept is introduced again.

Looks like someone wanted to know which states offered homeowners protection against deficiency balances…EG “Anti-Deficiency” statutes.

Here is one reader’s answer from Yahoo’s Answers…accurate?

Anti-Deficiency Statutes By State.

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