non-recourse loan, bank have to be careful when they lend

来源: tank 于 2009-07-22 12:09:02 [] [旧帖] [给我悄悄话] 阅读数 : 0 (235 bytes)
本帖于 2009-07-22 12:53:32 时间, 由普通用户 BayFamily 编辑

you the money. Mortgages in most of the state are non-recourse, that means you can walk away from the house and the only thing bank can do is to foreclose. That is why there is 20% minimum down pay in place to protect bank's interest.

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• 谢谢坦克，你说的很关键 -万枫- ♂ 给 万枫 发送悄悄话 万枫 的博客首页 (0 bytes) () 07/22/2009 postreply 12:29:43

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