ANSWERS: 2
  • Usually the house is sold for an amount large enough to cover the unpaid balance. If it is not, the person who defaulted on the loan could still be held liable for the difference, and sued to get it.
  • it depends on the state.... in Ca the is a law that prohibits the morgtage co from demanding the remainder. im suprised these experts dont tell you laws vary. you need to go to a local real estate lawyer.

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