Are most loans made these days “non-recourse”?
I guess I assumed almost all of them are.
Never really thought about it.
With a non-recourse loan, if you decide to stop paying your home loan, you can pretty much walk away, your loan is “forgiven”, and you go on with your life.
Otherwise, if you walk away from your loan, the lender can take ownership of the property, sell it for whatever it’s worth, then come after you for the remainder due.