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peakoil

Anyone Know The Us Term For Mortgages Where They Can't Come After You For The Difference After Auction?

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Hi all,

In the states the classic "jingle mail" is possible because if you owe $100,000 and the house auctions for the bank at $50k - they can't chase the previous owner for the difference.

In the UK, of course, they can hound you for years, which they do...

There is a name for this, I think it's something like "with prejudice" or "without prejudice" or something.

Does anyone know the correct term for this type of mortgage where the bank can't pursue the owner?

I am trying to find out if that is the case for a portuguese mortgage - I can't find the right term for a google search!

If anyone knows anything they think will help (other than - whatever you do, don't buy a holiday home in Portugal... too late for that) - then I'd love to hear!

;)

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Hi all,

In the states the classic "jingle mail" is possible because if you owe $100,000 and the house auctions for the bank at $50k - they can't chase the previous owner for the difference.

In the UK, of course, they can hound you for years, which they do...

There is a name for this, I think it's something like "with prejudice" or "without prejudice" or something.

Does anyone know the correct term for this type of mortgage where the bank can't pursue the owner?

I am trying to find out if that is the case for a portuguese mortgage - I can't find the right term for a google search!

If anyone knows anything they think will help (other than - whatever you do, don't buy a holiday home in Portugal... too late for that) - then I'd love to hear!

;)

Non recourse (reletive to particular states, California is certainly one of them). Mr mortgage blog may have more.

http://mrmortgage.ml-implode.com

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yes - however i believe non-recourse becomes invalid if a second loan is taken out (MEWing)

You may be correct, but I think the first loan is non recourse, the second loan is NOT, But if you remortgage the whole thing becomes a recourse loan, have I explained that correctly in plain English?

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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