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Business, 01.03.2021 20:30 arielpraczko1

If a borrower lives in a recourse state and defaults on a mortgage note that contains an exculpatory clause and the lender receives less than the amount owed on the mortgage when the property is sold, the lender will… do nothing since the lender is limited to the proceeds from the sale of the property take legal action against the borrower to recover the difference seek the difference from the borrower’s title insurance company file for bankruptcy protection

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If a borrower lives in a recourse state and defaults on a mortgage note that contains an exculpatory...
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