“What lender would let you walk away!!! They foreclose and then seek the balance from the borrower in a civil suit. Don’t be foolish to think that you can walk away with little or no consequences.”
Not true for primary mortgage loans in most states. They are no recourse (i.e. all a lender can do is foreclose and take the property). Second liens are different, I think. If anybody knows for sure what are the default consequences for HELOCs, piggybacks, and so on, please share the info with us. Thanks.
